Waterjet Cutting Machine Market Growth & Trends
The global waterjet cutting machine market size is expected to reach USD 1,289.2 million by 2030, expanding at a CAGR of 3.7% from 2023 to 2030, according to a study conducted by Grand View Research, Inc. The demand for cutting components with high accuracy and quality edges is predicted to increase across a variety of application industries, fueling the waterjet cutting machine industry expansion. The development of the market is projected to be fueled by improvements in production techniques and rising consumer demand for cutting-edge technology.
Additionally, the waterjet cutting machine industry is expected to grow due to the increasing demand for proficient waterjet cutting machines that offer higher performance and throughput along with the capacity to cut thicker materials, better part edge quality, and fast cutting speeds. The demand for NC and CNC metal-cutting equipment that offers flexibility is likely to be driven by factors such as a growing skills gap combined due to a shortage of skilled workers. Furthermore, a growing emphasis across industries on automation technology to enhance production performance and efficiencies, driving the growth of the waterjet cutting machine industry.
Many industries have adopted waterjet cutting devices as a result of technological advancement and innovation. 3D robotic and micro, waterjet cutting machines are some of the key advancements that help end users increase their output and deploy precise cutting operations. Manufacturers of these machines are currently on the market and offer robotic automation for waterjet cutting to the automotive, textile, aerospace, and electronics industries to produce weld test samples are further driving the waterjet cutting machine industry growth.
Asia-Pacific is anticipated to account for the largest share of the global waterjet cutting machine industry for waterjet cutting machines during the forecast period. This is due to the increasing investment in the manufacturing industry and the expanding automotive and construction industries. Additionally, Asia Pacific is home to the manufacturing sector, which includes consumer goods, electronics, and machine tools. Additionally, the presence of developing nations like China and India is fostering waterjet cutting machine industry expansion.
Similarly, North America is also experiencing rapid expansion in the waterjet cutting machine industry. Growing investments in the aircraft, automotive, metal cutting, furniture, and glass industries, as well as the presence of key market players in the United States and Canada, are likely to boost market expansion over the forecast period. Furthermore, rising investments in developing advanced waterjet cutting machines, expanding end-use industries, and an increase in the number of construction and infrastructure development projects in North America are expected to drive the growth of the waterjet cutting machines industry during the forecast period.
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Waterjet Cutting Machine Market Report
Waterjet Cutting Machine Market Report Highlights
- During the forecast period, the robotic waterjet cutting machines segment in the product segment is likely to grow at the highest CAGR of 4.6 %. The product’s capacity to precisely and accurately cut a variety of metals, both ferrous and non-ferrous presents a major opportunity for growth
- The aerospace & defense application is expected to register the highest CAGR of 4.3% in 2023–2030. Due to increasing passenger and military spending, which is certain to boost the manufacturing of both commercial and military aircraft
- Throughout the forecast period, the automotive sector is expected to register the second-highest growth rate. Growth in the automotive and manufacturing sectors, a rise in industrial automation, and expanding technical advancements
