The global waterjet cutting machine market size is expected to reach USD 1.4 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. Growing advancements and innovations in the waterjet cutting industry has led to the development of robotic waterjet cutters, which has contributed to improving the operational efficiency across various sectors. Moreover, the innovation of pumps from traditional intensifier designs to fast direct drive pumps coupled with the enhanced nozzle designs to provide improved cutting rates can be attributed to the increased demand for waterjet cutting machines.
Furthermore,
the intricate design of aerospace and defense components which require high
precision and accuracy in terms of dimensions can be achieved through the
machines, which has compelled the manufacturers to focus on product
development. For instance, in 2017, OMAX Corporation introduced its latest
generation of MicroMax series, a micro-abrasive waterjet technology which has a
positioning accuracy of fewer than five microns. Additionally, benefits such as
the cold cutting method, no generation of hazardous waste, and a cleaner
finished output has led to the adoption of the machines in various applications
such as the healthcare industry, semiconductor manufacturing industry, packaging
industry, and mining industry.
Increasing
demand to cut, drill, shape materials into precise sizes without producing
wastes has been the key factor compelling the companies to adopt the
technology. The cutting process does not lead to the creation of any hazardous
waste and further facilitates the recycling of scrap materials. Thus, resulting
in environmental benefits and enabling the end-use industries to adopt the
technology. Moreover, with the increasing stringency of environmental standards
and waste production limitations, the waterjet cutting machines market is
anticipated to witness robust growth over the forecast period.
The
machine provides benefits such as cost-effective operations, no metal
distortion, and a cleaner finish as compared to the other cutting techniques
such as plasma, laser, stamping, and electrical discharge machining (EDM). As a
result, the machine can be used for cutting nearly any composite or material,
thereby driving the market over the forecast period.
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Waterjet Cutting
Machines Market Report Highlights
- The global
waterjet cutting machine market was valued at USD 969.2 million in 2019
and is projected to witness a CAGR of 5.1% over the forecast period
- The growth of
the abrasive type segment can be attributed to increasing demand for
manufacturing precise automotive parts, aerospace components, electronic
circuit boards, and cutting of thicker materials
- The Asia
Pacific regional market accounted for the largest revenue share in 2019
and is expected to continue its domination at a CAGR of 6.4% over the
forecast period
- The key
industry participants include Colfax Corporation; Omax Corporation; Flow
International Corporation; Dardi International Corporation; and WARDJet,
Inc. (AXYZ Automation Group).
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Waterjet Cutting
Machines Market Segmentation
Grand View Research has
segmented the global waterjet cutting machine market on the basis of type,
application, and region:
Waterjet Cutting
Machine Type Outlook (Revenue, USD Million, 2016 - 2027)
- Pure
- Abrasive
Waterjet Cutting
Machine Application Outlook (Revenue, USD Million, 2016 - 2027)
- Automotive
- Electronics
- Aerospace & Defense
- Mining
- Metal Fabrication
- Others
Waterjet Cutting
Machine Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of World
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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