The Waterjet Cutting Machine Market is estimated to be valued at US$ 1.32 Bn in 2024, growing at a CAGR of 6.4% over the forecast period (2024-2031). Waterjet cutting machine is highly preferred for delicate materials due to its ability to cut uneven clearances along the cutting line. This creates a high demand for waterjet cutting machines in sectors such as aerospace, automotive, and electronics domain.
Market Dynamics:
The growth of the waterjet cutting machine market is driven by increasing demand from manufacturing industries and rapid advancement in waterjet cutting technologies. The expansion of manufacturing industry worldwide due to growing industrialization is driving the demand for precise cutting machines. This provides ample growth opportunities for waterjet cutting machine vendors. Furthermore, continuous innovation in waterjet cutting technology such as integration with robotics and automation has improved cutting accuracy and speed. Rising adoption of industrial internet of things by waterjet cutting machine manufacturers to improve operational efficiency and enable predictive maintenance are expected to propel the market growth over the forecast period.
However, high investment and maintenance costs associated with waterjet cutting machines along with availability of substitute technologies may hamper the market growth to some extent over the forecast period.
Market Driver: Increasing Demand for Precision Cutting are Driving the Market Growth
Waterjet cutting provides high precision cutting capabilities which has led to the rising demand from various industries such as automotive, aerospace, electronics, etc. The ability to cut both soft as well as hard materials with intricate details without causing heat distortion has made waterjet an important fabrication tool. With growing complexities in product design and need for intricate cutting, the demand for waterjet cutting machines has witnessed strong growth over the years. The aerospace industry in particular relies heavily on waterjet cutting for processes like adding slots, notches, and other features to airframe components during manufacturing. This precise cutting ability accompanied by negligible heat impact has been one of the major factors propelling the growth of the waterjet cutting machine market.
Market Drivers: Implementation of Automation and Robotics are Pushing Market Expansion
With advancement in robotics and automation technologies, waterjet cutting machine manufacturers are increasingly integrating these capabilities into their equipment. The inclusion of automation facilitates higher productivity and reduced labor costs for end users. It allows performing complex tasks repetitively with high accuracy. Many manufacturers now offer fully automated waterjet cutting systems with integrated loading/unloading robots, centralized part programming controls and other smart solutions. Automated machines are gaining widespread adoption across industries as they minimize human errors and improve overall production efficiency. Growing automation and robotics integration are thus acting as another key driver for the waterjet cutting machine market.
Market Restraints: High Production and Maintenance Costs Hindering Adoption
While waterjet cutting provides unmatched flexibility and precision, it also involves higher costs compared to traditional cutting techniques like plasma, laser, mechanical, etc. The waterjet technique is relatively slower in terms of production rates. It also consumes a large quantity of abrasive material like garnet for cutting which substantially inflates operating expenses. Similarly, regular maintenance and part replacements of crucial machine components like pumps, jets, filters, etc. drive up the total ownership expenses over time. The high capital investments and running costs associated with waterjet cutting hinders its adoption, especially for cost-sensitive, high volume applications. This high cost factor poses a major challenge for the broader growth of the waterjet cutting machine market.
Market Restraints: Lack of Expertise and Skilled Labor are Limiting Market Reach
Proper handling and operation of waterjet cutting equipment demands specialized technical know-how and skills which are currently lacking across many regions and end-use industries. The complex nature of workflow involving multiple process parameters, consumables selection, and extensive programming needs experienced professionals. However, there is a global scarcity of educational institutes and training centers providing expertise in waterjet technology. Moreover, insufficient worker training by machine suppliers further compounds the skills shortage problem. This dearth of knowledgeable technicians and programmers is inhibiting greater uptake of waterjet cutting systems by small businesses and industries from developing markets. Overcoming the skills challenge through focused training initiatives will be crucial to help waterjet technology reach its full potential.
Market Opportunities: Growing Use in Non-traditional Applications is Presenting New Opportunities
While waterjet cutting has found widespread success in conventional fabrication domains, its innovative utilization in non-traditional areas is emerging as a major market opportunity. Some such promising new applications include cutting challenging materials like marble, granite, and engineered stone for architectural purposes, food processing to slice delicate products cleanly without damage, 3D printing support material removal and many more. The diversification to non-manufacturing sectors like construction, ceramics, and food & beverages is opening new revenue streams for waterjet cutting machine providers. Furthermore, customized systems catering to specialized needs of these unique application areas are being introduced to leverage the opportunity. This expansion into non-traditional use cases will be an important growth driver for waterjet cutting technology.
Market Opportunities: Demand from Developing Economies Opening New Avenues
Developing economies across Asia Pacific, Latin America, Africa, and the Middle East regions are experiencing strong industrial growth and witnessing rising investment in manufacturing and infrastructure development. This rapid economic development and growing manufacturing output in emerging markets is stimulating the need for advanced fabrication equipment like waterjet cutting machines. While these regions currently contribute only a small portion to the global waterjet cutting market, their future demands hold immense potential. To tap into this opportunity, suppliers are establishing local manufacturing plants and distribution networks as well as offering customized affordable solutions. They are also conducting extensive training programs to bridge regional skills gaps. If leveraged properly, the developing markets can emerge as a major new revenue source driving future expansion of global waterjet cutting machine industry.
Link - https://www.coherentmarketinsights.com/market-insight/waterjet-cutting-machine-market-3290
Key Developments:
- In January 2021, Belotti Spa is a renowned company that specializes in providing advanced solutions for CNC machining and automation systems. introduced NOVA Nesting Series CNC waterjet cutting technology. This cutting system combines waterjet cutting with multi-axis CNC machining capabilities, offering high performance and precision. The NOVA series is suitable for processing small products with extreme accuracy, meeting stringent quality requirements and tight tolerance specifications.
- In April 2020, Water Jet Sweden is a leading provider of waterjet cutting systems and solutions, based in Sweden. revealed "Alphajet," the latest advancement in taper angle control. This technology is designed to significantly improve cutting precision and enhance cutting capacity.
Key Players:
Omax Corporation, Flow International Corporation, Koike Aronson, Inc., WARDJet, Inc., Jet Edge, Inc., Resato International BV, Water Jet Sweden AB, STM Waterjet, Kimtech, Techni Waterjet, Innovative International Ltd., Swaterjet, A Innovative International Ltd., BFT GmbH, NLB Corporation, TNLB Corporation, and Water Jet Germany Private Ltd.
