Waterjet cutting machine: Key market research findings
- The Americas dominate the market geographically
- Automotive segment accounts for a majority of the market’s revenue
- Key vendors – Bystronic, COLFAX, Huffman, Omax, and KMT Waterjet
Technavio’s market research analysts predict the global waterjet cutting machine market to grow at a CAGR of around 8% between 2016 and 2020. The growth of this market is fueled by the benefits waterjet cutting brings about in the textile industry. Waterjet cutting in the textile industry enables the production of joint-free finished products. Besides, final products cut using waterjet cutting technology does not require any further processing. In 2015, the global waterjet cutting machine market was dominated by the Americas with a market share of around 42%. The growing automobile, aerospace, and metal fabrication industries, will fuel the demand for waterjet cutting machines in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the waterjet cutting machine segments based on the end-user.
“3D waterjet cutting is becoming increasingly popular in markets across the globe. 3D waterjet cutting is made possible by the incorporation of advanced machine control systems and software that enable the job to be completed in a fraction of the time taken before by simply incorporating a CAD file and specifying the cutting path or design within seconds. With the deployment of five-axis abrasive waterjet cutting machines in more fabrication shops, the technology is being applied to handle a variety of materials and not just metals. Industry shop floors are adapting to the new technology as it provides added financial benefits as well as flexible component design capability and versatility,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
During 2015, the global market was dominated by the automotive segment with a market share of more than 28%. The increased adoption of waterjet cutting machines in the automotive sector is attributable to the introduction of stringent norms with regard to the quality and reliability of the final products. These machines are used in cutting, drilling, and surface cleaning of metal sheets that are used in the fabrication of automotive parts. The growth in the automobile sector is expected to drive the market for waterjet cutting machines during the forecast period.
The key vendors in the global waterjet cutting machine market include Bystronic, COLFAX, Huffman, Omax, and KMT Waterjet. Apart from top vendors, several regional and local vendors have started manufacturing customized, energy-efficient equipment that pose as a tough competition for their international counterparts in terms of cost. Though the market seems unsaturated with several new vendors, it is quite difficult for them to compete with international vendors in terms of quality, features, functionalities, and services. The competition is expected to intensify further with the introduction of products with new features and technologies.
A more detailed analysis is available in the Technavio report, Global Waterjet Machine Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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