The global waterjet cutting machine market is anticipated to reach USD 1.4 billion by the end 2027, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 5.1% from 2020 to 2027. Rising adoption of WCMs for implementing eco-friendly cutting practices across the globe is anticipated to propel the market growth. Moreover, growing demand for automation and technological advancements to improve the operational efficiency across different sectors such as mining, aerospace and defense, textile, automotive, and electronics is anticipated to further drive the market growth over the forecast period.
Moreover, rising demand for WCMs to develop complex components such as jet engine and turbine is anticipated to drive the growth of WCMs market across the aerospace industry. Moreover, for developing complex for developing complex military and defense products like rotary blades, guided missiles, aircraft fuselages, space vehicles, and thick metal sheets, there has been rapid adoption of waterjet cutting machines which is further projected to propel the segment’s growth.
The segment of pure waterjet cutting machines is expected to attain a CAGR of 5.6% over the forecast period owing to its wide application in industries such as custom packaging, food, tobacco, and beverage to cut soft materials with high efficiency. Moreover, rising demand for cut out parts like wings, gears, brake types, and turbines across industries such as mining, aerospace & defense, food & beverage, textiles, and electronics is anticipated to boost the demand for abrasive waterjet cutting machines over the forecast period. Thus, the segment is projected to attain a significant growth from 2020 to 2027.
Market Share Insights
Leading players operating in this industry are Dardi International Corporation; Colfax Corporation; Omax Corporation; Koike Aronson, Inc.; Flow International Corporation; Hornet Cutting Systems; WARDJet, Inc. (AXYZ Automation Group); and A Innovative International Ltd. These players are continuously engaged in manufacturing, distribution, and designing of waterjet cutting machines.
These players are investing in R&D to develop new products that improve operational efficiency. Moreover, the existence of a large number of local companies in the Asia Pacific is anticipated to be the major threat for global players owing to the price and product quality provided to the consumers.
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Regional Insights
In 2019, Asia Pacific held the largest market share of over 35% across the global market. Economic development and increasing industrialization in countries such as India, South Korea, Japan, and China are the factors projected to propel regional market growth. In addition, the rapid growth of industries such as electronic, food, tobacco, beverage, metal & mining, and material handling across this region is anticipated to further fuel the market growth from 2020 to 2027.
Asia Pacific is projected to attain the fastest growth from 2020 to 2027 owing to the rising adoption and popularity of POS terminals coupled with the rising adoption of online payment applications in emerging countries like Vietnam, India, China, and Indonesia. Moreover, rising demand for compatible and robust POS software across emerging businesses with high growth prospects such as retail, entertainment, e-commerce, and food delivery services is projected to further proliferate the regional market growth from 2020 to 2027.
Europe is projected to grow at the fastest growth rate over the forecast period and the Western European region is considered to be the potential market for waterjet cutting machines. Factors such as advancements in technology and the increasing popularity of technologies that prevent over-consumption of energy are some of the major factors driving the growth of the regional market. In addition, U.S. is anticipated to be the most potential market for WCMs in North America owing to the rapid growth of the automation, electronics, and robotics industry.
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