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The waterjet cutting machines market size is forecast to increase by USD 464.6 million at a CAGR of 6.61% between 2023 and 2028. The market's growth is influenced by several factors, including the automotive industry's increasing demand, the need for high precision in cutting exotic materials, and the drive to automate metal-cutting processes. These factors underscore the market's dynamism and the need for advanced cutting solutions to meet evolving industry demands. The automotive sector, in particular, is a significant driver, requiring efficient cutting technologies to meet production demands and quality standards. Additionally, the focus on automation reflects a broader trend toward efficiency and productivity enhancements in manufacturing. These factors collectively highlight the market's trajectory toward innovation and efficiency, shaping its growth and competitive landscape. Our report examines historic data from 2018 - 2022, besides analyzing the current and forecasted market scenario.
Market Forecast 2024-2028
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The market caters to diverse sectors like the electronics sector, textiles sector, mining sector, packaging sector, textile sector, and construction sector. It offers advanced machinery for precise cutting, including 3D waterjet cutting equipment, robotic waterjet cutting equipment, and micro waterjet cutting equipment. These machines enable Customized products for various materials, including curved surfaces. Industries benefit from industry automation, process automation, reducing labor costs and enhancing efficiency. Despite advantages, challenges like High ownership cost, maintenance, and surface abrasiveness exist. However, with advancements in Robotic technologies and software, waterjet cutting machines continue to be a reliable choice for industries requiring accurate and efficient cutting solutions. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Waterjet cutting machines have gained prominence as a preferred method for profiling across various industries due to their capability to cut a diverse range of materials and deliver high cutting quality. Unlike the heat-cutting process, which involves the use of laser and plasma cutting machines for metal parts, waterjet cutting is suitable for a wider array of materials, including those that are reflective, conductive, heat-resistant, or heat-sensitive. This cold-cutting technique employs a mixture of water and abrasive materials to achieve precise cuts without generating heat or creating undesirable effects like burrs or heat-affected zones.
Consequently, the adoption of waterjet cutting machines reduces the need for additional processes like polishing and restoration, thus offering cost savings. These advantageous attributes have significantly propelled their popularity within various end-user industries. The strong influence of these factors is expected to drive market growth during the forecast period.
The rising diversity in material utilization and the expanding presence of small and medium-sized enterprises (SMEs) within the metal fabrication sector have amplified the requirement for smaller waterjet cutting machines. SMEs engage with various materials for their limited-scale manufacturing processes. Consequently, the investment in larger waterjet cutting machinery can lead to substantial costs for SMEs, hindering their adoption of such technology. To address this challenge, manufacturers are concentrating on crafting compact waterjet cutting machines that offer efficiency within constrained spaces and demonstrate competence in cutting exotic and heat-resistant materials. Nonetheless, the emergence of compact waterjet cutting machines has extended capabilities to diverse part types.
Moreover, the upsurge in demand for compact waterjet cutting machines within SMEs is evident due to these advantages. While the availability of compact waterjet cutting machines is currently limited, the mounting recognition and increasing necessity for compact alternatives among SMEs are poised to encourage a surge in manufacturing such machines by numerous companies. This trend is anticipated to significantly propel market growth during the forecast period.
The market is confronted with a significant hindrance arising from the availability of alternative metal cutting machinery equipped with cost-efficient tools specifically tailored for shaping ductile metals like stainless steel, brass, and aluminum. While diverse cutting machines are accessible in the market, specialized cutting equipment finds prominent application in various sectors, including automotive, aerospace and defense, healthcare, plastics, electrical and electronics, textiles, and woodworking. Among these, plasma cutting emerges as a cost-effective method primarily employed in steel cutting, utilizing plasma gas such as nitrogen, argon, hydrogen, or compressed air to generate a plasma arc within the torch. This technique is commonly utilized for aluminum, copper, thick stainless steel, and various steel alloys. In contrast, laser cutting machines, equipped with high power lasers, exhibit remarkable precision and versatility in vaporizing materials spanning from steel to plastics.
However, the prevalence of these alternate metal-cutting approaches has cast a shadow on the demand for waterjet-cutting machines. Technavio anticipates that the influence of this challenge, coupled with the rising inclination towards innovative laser-cutting solutions across diverse industries, will further exacerbate and impede the growth trajectory of the highlighted market segment during the stipulated forecast period.
The market share growth by the metal cutting segment will be significant during the forecast period. Exotic metal contains stainless steel, titanium alloys, nickel and cobalt. Heat-resistant superalloys are a key element in the end-users industry, e.g. automobiles, aeronautics and defence, as well as electric electronics. The cold-cutting process must be used for these heat resistance metals. Consequently, the demand for waterjet machinery in metal-cutting applications is growing steadily.
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The metal cutting segment was the largest segment and was valued at USD 458 million in 2018. Almost all sectors of the end-user industry require metals. The shift toward the use of lightweight metals, including titanium and aluminum, in industries such as aerospace and defense and automotive is the significant factor that increases the use of waterjet cutting machines in metal cutting applications. In addition, the availability of substitutes, such as plasma and laser cutting machines, for cutting thick metal parts is a major challenge hindering the market growth. Nevertheless, there is steady progress in waterjet cutting machines. Also, in terms of handling heat-sensitive metals, the companies of the market are enhancing the performance of the machines. Such factors will fuel the growth of the market during the forecast period.
Based on end-user, the market has been segmented into metal fabrication, automotive, electrical and electronics, aerospace and defense, and others. The metal fabrication segment will account for the largest share of this segment.? It is the method of creating metal structures by cutting, bending, and assembling. A number of value-added processes, such as welding, cutting, forming, and machining, are employed in large fabrication houses within a single facility. The fabricated metal parts are used in small arms, utensils, building products, fasteners, construction products, and heavy equipment. A strong increase has been reported in demand for buildings, vehicles, and heavy machinery since the recession of 2008. As a result, there is an increased demand for fabricated metals. Therefore, the rising demand for fabricated metal products across industries has functioned as a growth catalyst for the market, which in turn is expected to drive the market growth during the forecast period.
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North America is estimated to contribute 36% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. In North America, the largest contribution to the overall revenue of the market comes from the United States. Despite the mature phase of the automotive industry in the US, it continues to be a significant revenue generator for the regional market. The focus on enhancing technical skills within the workforce, driven by manufacturers and local governments, aims to seamlessly integrate automation and robotics.
In North America, the aerospace industry has seen foreign investments due to a skilled workforce and a robust distribution system. Expected growth in the aerospace sector is attributed to increased investments. The US also leads in revenue contribution to the furniture sector in North America, despite fluctuations in wood prices affecting imports. This scenario has prompted investments in local furniture manufacturing units. The furniture market's growth is attributed to rising disposable incomes, a preference for luxury wooden furniture, real estate industry growth, and overall economic stability in the region. Hence, such factors are driving the market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
A Innovative International Ltd. - The company offers CNC waterjet cutting systems such as the Jetcut series, Jetcut Bridge series, and AllL Flying Arm series.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AAG INC., Dardi International Corp., ESAB Corp., Foshan Yongshengda Machinery Co. Ltd., Guangzhou Sino Achieve Mechanical Equipment Co. Ltd., Hornet Cutting Systems, Hypertherm Inc., Jet Edge Inc., Koike Aronson Inc., Leading Edge Cutting Solutions Inc., Metronics Technologies SLU, Optomec Inc., Resato International BV, SCM GROUP Spa, Shape Technologies Group Inc., Shenyang AUTOFU Technology Co. Ltd., STM waterjet GmbH, Sugino Machine Ltd., and Waterjet Corporation s.r.l
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market serves various industries, including automotive, textiles, and food, offering precision cutting for materials like rubber, foam, and composite materials. Robotic waterjets, Pure waterjet cutting machine along with CAD/CAM/Control software, ensure operational excellence and cost-effective cutting solutions. However, challenges like high energy consumption and maintenance issues persist. The market continues to innovate, with advancements in edge quality and cutting technology, catering to emerging markets and automotive manufacturers. With a focus on reliability and affordability, waterjet cutting machines provide efficient cutting for a wide range of materials, making them integral to many industries' manufacturing processes.
Furthermore, the market caters to diverse industries like the Defense industry and energy sectors, offering precise cutting for materials such as gaskets, plastic, and textiles. Challenges like lack of maintenance, Product positioning and incorrect selection persist, impacting hourly operating costs and fabrication difficulties. These machines excel in cutting irregular shapes and bonded laminates, including aluminum composite panels and rubber-lined wear plates. They are crucial for industries requiring precision, like automotive and food, offering a safe and flexible cutting solution. With advancements in control software and Abrasive waterjet cutting machine, the market continues to evolve, meeting the demands of market recovery and increased population with efficient, cost-effective cutting technologies and Industrial automation.
Market Scope |
|
Report Coverage |
Details |
Page number |
175 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.61% |
Market growth 2024-2028 |
USD 464.6 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.09 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A Innovative International Ltd., AAG INC., Dardi International Corp., ESAB Corp., Foshan Yongshengda Machinery Co. Ltd., Guangzhou Sino Achieve Mechanical Equipment Co. Ltd., Hornet Cutting Systems, Hypertherm Inc., Jet Edge Inc., Koike Aronson Inc., Leading Edge Cutting Solutions Inc., Metronics Technologies SLU, Optomec Inc., Resato International BV, SCM GROUP Spa, Shape Technologies Group Inc., Shenyang AUTOFU Technology Co. Ltd., STM waterjet GmbH, Sugino Machine Ltd., and Waterjet Corporation s.r.l. |
Market dynamics |
Parent market analysis, market growth analysis, market research and growth, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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