Waterjet Machine Market Size, Share, Growth, and Industry Analysis by Type (High pressure, Low pressure), by Application (Automobile, Stone tiles, Job shops, Aerospace and defence, Others), Regional Insights, and Forecast To 2032

Waterjet Machine Market Report Overview

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The global waterjet machine market size was USD 1131.2 million in 2021. As per our research, the market is expected to reach USD 2000.69 million in 2031, exhibiting a CAGR of 5.87% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with waterjet machine market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Waterjet Machine is a tool that can be cut into metal or other materials using high speed and high pressure water jets or a mixture of water and abrasive. This process is basically the same as the water erosion found in nature, but is significantly enhanced and concentrated. Waterjet machines provide an efficient method of producing complicated components of machines with relative comfort and accuracy. It facilitates versatile and effective machining, cutting, and shaping of metals and other materials. A waterjet machine uses a pump to discharge water at an extremely high pressure through a nozzle to cut metals and other materials. These machines generate a minor amount of heat compared to other cutting technologies and can consequently be used even on materials that are extremely sensitive to high temperatures. Waterjet machines also help safeguard minimal wastage of the material being machined.

Waterjet machines are highly adopted in industries such as automotive, aerospace, electronics, textile, construction, and mining. Waterjet can be used with or without a coarse mixture. The abrasive waterjet is typically used for high-strength materials such as titanium, granite, and more. Stone tiles have become a popular choice for interior designing of homes and offices. They help to augment the aesthetic appeal of the area. Furthermore, they are durable and easy to clean. Waterjet cutting machines are used to cut stone tiles into different shapes and sizes. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Waterjet Machine Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into high pressure, low pressure.

High pressure will capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into automobile, stone tiles, job shops, aerospace and defence, others.

Waterjet machine market players cover segment as aerospace and defence will dominate the market share during forecast period.

Driving Factors

"Increase in Demand In Aerospace & Defence Industry To Boost The Market Growth"

Increasing demand in aerospace & defence and automotive industry. The factors that are contributing to upsurge in demand for water jet machines through different industries include its ability of cutting through any type of material, low operating cost, comfort in recycling, non-hazards and environment friendly, increasing usage of water jet cutting machines in automobile industry. These machines are better in precision and dependability than the traditional ones. These devices are designed to meet requirements such as high sensitivity and selectively. The demand is motivated by the growth of these industry which is anticipated to enhance market growth.

"Technological Advancement And Development To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the waterjet machine market growth. Growing investment in research and development activities and growing awareness about benefits of waterjet machine are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices.

Restraining Factor

"High Cost To Hamper The Market Growth"

High cost is hampering development of waterjet machine market. The energy consumed by waterjet machines directly contributes to the operating cost of any company which makes serious issue to any company. Also advanced control software for waterjet machine adds an extra cost for any company operating waterjet machine which is depleting the market growth. Technical difficulties will reduce the industry revenue.

Waterjet Machine Market Regional Insights

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"Asia Pacific to Dominate the Market Due To Improving Economic Condition "

Asia Pacific is further expected to witness growth in the waterjet machine market share. The region is dominating the market due to improving economic condition and rapid industrialization in major economies of the region. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

LIST OF TOP WATERJET MACHINE COMPANIES

• Waterjet Corporation (Italy)
• KMT (India)
• ESAB (U.S.)
• Omax (U.S.)
• Bystronic (Australia)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.