Waterjet Cutting Machine Market by Product Type (3D, Micro, and Robotic), Application (Glass/Metal Art, Fiberglass Cutting, Foam Product Cutting), Industry (Automotive, Machine Manufacturing, Medical Devices), and Geography - Global Forecast to 2023
“Waterjet cutting machine market to grow at CAGR 6.25% during forecast period”
The waterjet cutting machine market is expected to grow from USD 921.7 million by 2018 to USD 1,248.0 million by 2023, at a CAGR of 6.25% during the forecast period. The market is expected to witness significant growth in the future due to its multiple application areas for these machines in the end-user industries such as steel, automobile, construction, manufacturing, and metal. The global waterjet cutting machine market is driven by the growth in demand for steel in various industries, especially in automobile, oil & gas, and energy industries. The market growth is also supported by the high demand from the Asian metal and metal-manufacturing industries. High total cost of ownership and requirement of technical know-how are the factors restraining the growth of this market.
“Waterjet cutting machine market for automotive to grow at high CAGR during forecast period”
In automotive industry, waterjet cutting machines are used for the interior and exterior cutting tasks of headliners, carpets, liners, dumpers, door and instrument panels, seats, composite parts, and castings in the automotive industry, which also contributes to the growth of the waterjet cutting machine market for this industry.
“Foam product cutting to be fastest-growing application in market during forecast period”
The waterjet cutting machine market for foam product cutting is expected to grow at a high rate between 2018 and 2023. Waterjet is used for cutting foams which are used in various applications including aircraft part packaging, military packaging, foam dock protectors, foam protective barriers, foam mattresses, and cushioning foam, which is expected to drive the waterjet cutting machine market.
“Waterjet cutting machine market in APAC to grow at highest CAGR during forecast period”
The market in APAC is expected to grow at the highest CAGR from 2018 to 2023. The growth of the market in APAC is driven by the expansion of the metal fabrication and automotive industries, coupled with the growing machine manufacturing industry, in India and China, among others. In addition to this, the growing population in these countries presents enormous growth opportunities for the construction industry, which is a prominent end user of waterjet cutting machines.
Break-up of the profiles of primary participants for the report is given below.
By Company Type: Tier 1 - 26%, Tier 2 - 32%, and Tier 3 - 42%
By Designation: C-Level Executives - 52%, Directors - 23%, and Managers - 25%
By Region: North America - 44%, Europe - 29%, APAC - 23%, and RoW - 4%
The report also profiles key players in this market, including Colfax Corporation (US), Lincoln Electric Holdings, Inc. (US), Flow International (US), Koike Aronson (US), Omax Corporation (US), KMT Waterjet (US), Hornet Cutting System (US), A Innovative International (India), and Semyx (US).
This research report segments the global waterjet cutting machine market on the basis of product type, application, industry, and geography. It also describes major drivers, restraints, challenges, and opportunities pertaining to the market, and includes the value chain analysis and market ranking analysis.
Reasons to Buy the Report:
The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities pertaining to the market.
Illustrative segmentation, analyses, and forecast have been conducted based on the product type, application, industry, and geography to give an overall analysis of the waterjet cutting machine market.
The detailed competitive landscape includes key players, in-depth analysis, and organic and inorganic strategies adopted by key players.
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