New York, US, Nov. 14, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Abrasive Waterjet Cutting Machine Market Research Report: Information by Type, Application, Industry and Region – Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 1,988 Million by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 8.50% during the assessment timeframe.
Abrasive Waterjet Cutting Machine Market Overview
The abrasive waterjet cutting machine market is growing steadily due to Industry 4.0. Besides, the rapidly growing tool manufacturing sectors and heavy industries worldwide drive the market. Growing applications of novel waterjet technology for faster abrasive cutting would support the market growth. The growing use of abrasive waterjet cutting machines for polishing purposes in metal fabrication industries drives the market demand.
Over recent years, waterjet technology has evolved greatly, resolving stream lag and taper in 2D cutting challenges. With significant technological upgrades, the waterjet abrasive cutting machine industry is estimated to witness rapid revenue growth in future years.
Waterjet abrasive machining is an advanced, non-conventional abrasive cutting process wherein water is sprayed at the workpiece to erode oxidized materials to polish and shape metals such as aluminum, steel, granite, and cast irons. The pairing of an abrasive jet machining process with a CNC machine enables hassle-free production of components and reduced operational time & costs, increasing the machining capability of abrasive waterjet systems.
The advantages of abrasive waterjet machines are immense in achieving high-precision machining. Some key benefits include machining without a coolant and manufacturing complex shapes & cuts with excellent surface finish. Other benefits of abrasive waterjet cutting machines are less expensive, environmentally friendly operations without producing harmful by-products.
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Key players involved in the abrasive waterjet cutting machine market are
- Lincoln Electric Company (US)
- Colfax Corporation (US)
- Flow International (US)
- KMT Waterjet (US)
- Omax Corporation (US)
- Hornet Cutting Systems (US)
- Semyx (US)
- Koike Aronson (Japan)
- AUTOPRO-UP Co., Ltd. (South Korea)
- DARDI International Corporation (China)
- Waterjet Sweden AB (Sweden)
Abrasive Waterjet Cutting Machine Market Report Scope:
|Revenue forecast in 2030||USD 1,988 Million|
|Growth Rate||CAGR of 8.50% from 2022 to 2030|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||Increase in demand for steel and other metals in various end-use industries|
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Large manufacturing facilities are increasingly implementing abrasive waterjet cutting machines for metal polishing, cutting, and fabrication needs. Besides, rapid technological advances and emerging needs for smaller factory footprints in confined spaces boost market revenues. Also, the rising pressure among manufacturers to achieve increased production, with reduced time, manual labor, and operational costs, substantiates the market value.
Abrasive waterjet cutting machines are extensively used in the manufacturing of automotive and aerospace components and engine component manufacturing. Increasing applications of water jet machining for machining thick steel sheets or aluminum sheets and drilling & cutting operations boost the market size. Furthermore, the increasing demand for abrasive waterjet cutting machining from industries such as aerospace & automotive and building & construction fosters market growth.
Another key trend bolstering the market value is the emergence of small-format abrasive waterjet cutting machines, offering manufacturers new cutting options. Compact abrasive waterjets are designed with innovative software and hardware components for the full spectrum of industrial applications for precision manufacturing of a multitude of materials.
These smaller-footprint machines allow small factory owners to introduce waterjet technology within a confined place with financial constraints where power and flexibility are required. Over the past couple of years, various heavy industries have realized the benefits of down-sized abrasive waterjet cutting machines in achieving extreme precision, speed, space management, and price, leading to the development of several prototypes.
Despite the promising advantages, abrasive waterjet cutting machines also have some disadvantages, such as their non-workability on very thick materials, which makes the market confront several challenges related to machining strategies. Besides, the high initial investments required to set up and integrate water jet machining impede the market growth. Industry players try to respond to these market needs with their technical expertise and industry experience.
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Abrasive Waterjet Cutting Machine Market Segments
The abrasive waterjet cutting machine market report is segmented into types, applications, industries, and regions. The type segment comprises 3D waterjet cutting machines, micro waterjet cutting machines, and robotic waterjet cutting machines. Of these, the 3D waterjet cutting machines segment accounts for the largest market share.
The application segment comprises exotic metal & non-traditional material cutting, ceramic/stone cutting, glass/metal art, gasket cutting, foam product cutting, fiberglass cutting, and others. Of these, the glass/metal art application segment accounts for the largest market share.
The industry segment comprises metal fabrication, automotive & aerospace, textile, food processing, machine manufacturing, medical device, and others. Of these, the automotive segment accounts for the dominating market share, witnessing increased demand for vehicle gaskets and auto components. The region segment comprises the Americas, Asia-Pacific, MEA, Europe, and rest-of-the-world.
Abrasive Waterjet Cutting Machine Market Regional Analysis
The Asia Pacific region dominates the global abrasive waterjet cutting machine market. The ample availability of raw materials and cost-competitive workforces are key driving forces. Besides, the increasing adoption of these machines, led by the growing automation in manufacturing sectors and rapid industrialization in the region, impacts Abrasive Waterjet Cutting Machine Market shares.
North America is another lucrative market for abrasive waterjet cutting machines globally. Moreover, large technological advances and growing automation in manufacturing sectors boost the region’s market shares. Additionally, the vast product demand from the rapidly growing manufacturing sectors across the region substantiates market revenues. Also, increasing application areas and integration of waterjet cutting machines with abrasive removal features in the manufacturing environment propel regional Abrasive Waterjet Cutting Machine Market growth.
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Abrasive Waterjet Cutting Machine Market Competitive Analysis
The abrasive waterjet cutting machine market witnesses various strategic deals, such as collaborations, expansions, mergers & acquisitions, and advanced technologies integration. Major industry players strategically invest in driving their research and development activities and expansion plans.
Industry players strive to develop new technologies that simplify the design and creation of executable waterjet cutting machines that are intuitively suitable for design origination and modification. The market is expected to witness several product launches.
For instance, recently, on Jun 22, 2022, Ace Machining Ltd., a machining and tooling manufacturer, announced investments in new capabilities and expanded the shop floor to gain a greater edge and customer base from a diverse range of industries. Ace Machining has been looking to expand its shop floor and create a new fabrication division with a new abrasive removal waterjet machine. It’s CMS waterjet has an abrasive removal system, pulling out abrasive materials in no time.
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