Waterjet Cutting Machine Market revenue to hit USD 71 Billion by 2035, says Research Nester
Leading waterjet cutting machine market players include Kennametal Inc., Flow International Corporation, Ceratizit S.A., Jet Edge, Inc., Kimbald Technology AB, Techni Waterjet, Hypertherm Inc., ALLFI AG, KMT Waterjet, and GMA Garnet Pty. Ltd.
New York, Dec. 04, 2023 (GLOBE NEWSWIRE) — The global waterjet cutting machine market size is slated to expand at ~5% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 71 billion by the end of 2035, up from a revenue of ~USD 41 billion in the year 2022.The growth of the market can be attributed to the growing production of metals. Waterjet is typically used in cutting a wide range of metals and making products out of them, therefore higher production of metals will increase the usage of waterjet. The globe mined around 181 million tons of different metals in 2021, including aluminum, chromium, copper, magnesium, zinc, lead, titanium, nickel, zinc, and others. Waterjet cutting machines are widely used in industries such as aerospace, automotive, manufacturing, and construction due to their precision cutting capabilities and ability to handle a variety of materials.
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Ongoing advancements in waterjet cutting technology, including improvements in pump efficiency, cutting heads, and software, contribute to enhanced precision, speed, and overall performance of these machines. The demand for 5-axis and dynamic waterjet cutting machines has been increasing. These machines offer greater flexibility in cutting complex shapes and bevels, expanding their applications in different industries. Waterjet cutting is often considered an environmentally friendly cutting process compared to traditional methods that may involve heat or chemicals. This factor has contributed to the adoption of waterjet cutting machines in various industries.
Increasing Need to Reduce Food Wastage across the Globe to Boost Market Growth
Globally, around 1.3 billion of food is wasted every year, which accounts for one-third of the total produce. Owing to higher food wastage the need for waterjet cutting becomes important since it allows for precise cuts and portioning thus preventing the wastage of food. In 2021, offshore wind installations reached a new high of 17,398 MW, bringing the total capacity currently operational to 50,623 MW. A waterjet cutting machine is used for the manufacturing of wind turbines, which are made up of carbon fiber tape or fiberglass. The demand for precision cutting has been a significant driver for the growth of the waterjet cutting machine market. Industries such as aerospace, automotive, and manufacturing require high-precision cutting of materials like metals, composites, and ceramics. Waterjet cutting machines excel in delivering intricate and accurate cuts, meeting the stringent requirements of these industries. The increasing adoption of waterjet technology is fueled by the need for precision in creating complex components, reducing material waste, and enhancing overall production efficiency. Continuous technological advancements in waterjet cutting machines, including improvements in pump efficiency, cutting head design, and software integration, play a pivotal role in market growth. These innovations result in enhanced cutting speeds, increased operational efficiency, and the ability to handle a broader range of materials and thicknesses.
Waterjet Cutting Machine Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Expanding Automotive and Aerospace Industries to Drive the Market Growth in North America Region
The waterjet cutting machine market in North America region is estimated to garner the largest revenue by the end of 2035. The automotive and aerospace sectors are key drivers of the market in North America. These industries require precise cutting for materials such as metals and composites to manufacture lightweight components, improve fuel efficiency, and enhance overall performance. Waterjet cutting machines offer the required precision, enabling manufacturers to meet the stringent quality standards of these industries. As the demand for advanced materials and complex components increases in automotive and aerospace applications, the market for waterjet cutting machines is poised for significant growth. The construction and infrastructure sectors play a crucial role in driving the demand for waterjet cutting machines in North America. These machines are essential for cutting a variety of construction materials, including stone, tiles, and metals. Waterjet cutting’s versatility in handling materials of different thicknesses and its ability to produce intricate designs make it an ideal choice for the construction industry. With significant investments in infrastructure projects and the construction of residential and commercial buildings, the waterjet cutting machine market is poised to benefit from the growth in this sector. According to the U.S. Census Bureau, construction spending in the United States is projected to increase, reaching over USD 1.5 trillion by 2023.
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Infrastructure Development and Construction Boom to Propel the Growth in the Asia Pacific Region
The Asia Pacific waterjet cutting machine market is estimated to garner the highest CAGR by the end of 2035. The ongoing infrastructure development and construction boom in Asia Pacific are driving the demand for waterjet cutting machines. These machines are essential for cutting materials such as concrete, stone, and metal in construction projects. As countries in the region invest heavily in infrastructure, including roads, bridges, and commercial buildings, the need for precise cutting solutions is increasing. Waterjet cutting machines, with their ability to handle diverse materials and produce intricate designs, play a crucial role in supporting the construction sector’s requirements. The growth of the market can be attributed majorly to the rising manufacturing industry. Asia Pacific has become the new hub for the manufacturing of products. Countries such as China have achieved a major mark in the manufacturing industry. It is anticipated that ASEAN manufacturing production might increase by USD 400 billion to USD 600 billion per year by 2030, compared to 2020 levels.
Waterjet Cutting Machine, Segmentation by Waterjet
Amongst these segments, the abrasive segment is anticipated to hold the largest share over the forecast period. The demand for precision cutting in manufacturing processes is a primary growth driver for the abrasive waterjet cutting segment. Abrasive waterjet cutting machines are known for their ability to cut a wide range of materials with high precision, making them indispensable in industries such as aerospace, automotive, and metal fabrication. As manufacturers seek advanced cutting solutions to meet stringent quality standards and achieve intricate designs, the abrasive waterjet cutting segment is experiencing substantial growth globally. The ability of abrasive waterjet cutting machines to handle complex geometric shapes is driving their adoption across industries such as architecture, aerospace, and automotive. These machines offer a high level of precision in cutting intricate designs, allowing manufacturers to produce complex components with minimal material waste. As industries demand increasingly sophisticated and customized products, the abrasive waterjet cutting segment is positioned for growth due to its capability to address these complex cutting requirements. A report highlights the growing adoption of abrasive waterjet cutting for applications that involve complex geometric shapes, with the sales expected to reach USD 2.1 billion by 2023.
Waterjet Cutting Machine, Segmentation by End User
- Metal Fabrication
- Food & Beverage
Amongst these segments, the automotive segment in waterjet cutting machine market is anticipated to hold a significant share over the forecast period. Modern automobiles are built using a wide range of advanced materials, such as advanced plastic, metals, glass, and composites. Waterjet cutting machine is highly suitable for the automotive industry as it provides high precision with all these materials. The typical automobile contains 30,000 parts, nearly one-third of which are made of plastic, that includes, handles, dashboards, panels, seating, cable insulation, and others. The automotive segment’s growth is strongly tied to the overall production and sales of vehicles. As the automotive industry expands, the demand for various components and technologies, including those related to waterjet cutting, experiences a corresponding increase. Rising vehicle production rates, driven by factors such as consumer demand, technological advancements, and expanding markets, contribute significantly to the growth of the automotive segment within the market. According to the International Organization of Motor Vehicle Manufacturers OICA, automobile production reached approximately 77 million units in 2020.
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Few of the well-known industry leaders in waterjet cutting machine market that are profiled by Research Nester are Kennametal, Flow International Corporation, Ceratizit S.A., Jet Edge, Inc., Kimbald Technology AB, Techni Waterjet, Hypertherm Inc., KMT Waterjet, GMA Garnet Pty. Ltd, and other key market players.
Recent Development in the Waterjet Cutting Machine Market
- Ceratizit S.A. announced has acquired the rest shares of Ceratizit Log Angeles, also known as Carbide Cutting Tools. This will boost the strategy for producing advanced cutting tools.
- Hypertherm Associates announced the launch of ProNest LT 2023 version 151 nesting software. It is a subscription-based platform for waterjet cutting.
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