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Waterjet cutting machines are a rapidly evolving manufacturing technology highly valued by industries for precision cutting applications. These machines utilize a highly pressurized stream of water, or a mixture of water and abrasive material, to cut through even the hardest of materials. The global Waterjet Cutting Machine Market is estimated to be valued at US$ 1,919.1 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Waterjet cutting machines provide manufacturers an efficient solution for cutting, shaping and sculpting a wide array of materials such as stone, tile, metals, composites, and glass. The technology enables precise cuts without generating excessive heat that can damage the material or surrounding components. Its ability to handle delicate materials and produce intricate 2D and 3D parts have made it popular across industries including automotive, aerospace, electronics and shipbuilding. Waterjet cutting minimizes production waste and cuts material much faster than traditional methods such as sawing or plasma cutting. The global Waterjet Cutting Machine Market growth is driven by increasing industrial productivity demands and the need for advanced cutting solutions.
Market key trends:
The waterjet cutting machine market is witnessing notable technology advancements aimed at enhancing accuracy, cutting quality and productivity. 3D waterjet cutting systems are gaining prominence and enable precise contour cutting on even complex 3D surfaces without sacrificing productivity. There is also increasing adoption of hybrid systems that combine waterjet cutting with other processes like laser cutting to maximize material use while minimizing processing time. Manufacturers are integrating robotics and artificial intelligence capabilities with waterjet machines to automate cutting processes and improve quality control. Such emerging technologies are supporting the waterjet cutting machine industry to meet evolving manufacturing needs across industries.
Porter’s Analysis
Threat of new entrants: The waterjet cutting machine market requires considerable investment in R&D and manufacturing facilities which acts as a barrier for new entrants. Bargaining power of buyers: The presence of many established players offering a variety of waterjet cutting machines increases buyer’s bargaining power. Bargaining power of suppliers: There are many suppliers for raw materials and components used in waterjet cutting machines hence suppliers have low bargaining power. Threat of new substitutes: There exists no close substitute technology for waterjet cutting machines used for precise cutting of various materials. Competitive rivalry: The global waterjet cutting machine market is fragmented with many international and domestic players offering differentiated products.
Key Takeaways
The global waterjet cutting machine market is expected to witness high growth.
Regional analysis: The Asia Pacific region dominates the market and is expected to grow at the fastest rate led by China, India, and other developing countries. This is attributed to rising industrialization and infrastructure development.
Key players operating in the waterjet cutting machine market are WARDJet, STM Stein-Moser GmbH, International Waterjet Machines, Sugino Machine Limited, OMAX Corporation, Jet Edge, Inc., Caretta Technology s.r.l., DARDI International Corporation, TrennTek GmbH, PTV, spol. s.r.o., Semyx, LLC, Foshan Yongshengda Machinery Co., Ltd., Plasma Automation Inc. (VICON), KMT Waterjet, Hypertherm Inc. (Accustream), AKS Cutting Systems, A Innovative International Ltd., Metronics Technologies S.L., Hornet Cutting Systems, Water Jet Sweden, Koike Aronson, Inc., CMS Industries, and TECHNI Waterjet. The key players are focused on new product launches to strengthen their market position. For instance, in 2023, OMAX Corporation launched Intelli-MAX XLZ waterjet cutting system featuring extended length.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
