Increasing Demand for Waterjet Cutting Machines in APAC Region

The waterjet cutting machine market is projected to grow from USD 1.1 billion in 2021 to USD 1.5 billion by 2026; it is expected to grow at a CAGR of 6.2% from 2021 to 2026. The key factors fueling the growth of the waterjet cutting machine market include high operational excellence, rise in adoption of waterjet cutting machines across industries, and growth of the automotive industry. Additionally, an increase in demand for waterjet cutting machines from industries in APAC is expected to create an opportunity for the waterjet cutting machine market.

Download Free PDF:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=183785572

Driver: High operational excellence

The waterjet cutting machine has a range of applications across industries. The waterjet cutting machine is flexible i.e. capable of cutting irregular shapes from any material with exceptional precision and edge quality. The waterjet cutting machine mixed with abrasive can cut almost any shape and thickness which includes bonded laminated materials such as aluminum composite panel and rubber-lined wear plates. Additionally, waterjet is a cold cutting process that eliminates problems caused by heat distortion and hardened edge, which offers an advantage for intricate metal fabrication and products which require additional machining after cutting. Furthermore, the waterjet cutting machine offers immediate high cutting quality ensures a precise result, avoiding an additional finishing process. This significantly accelerates the cutting process and saves time, increasing the overall efficiency.

Waterjet cutting machines are capable of cutting materials such as rubber, gaskets, foam, metal, plastics, and composites. However, high energy consumption, sensitivity to environmental conditions, probability of improper selection, poor maintenance, high cost of ownership, and difficulties faced during fabrication are some of the major problems faced during the handling of any equipment. The energy consumed by waterjet cutting machines directly contributes to the operating cost of any company, which makes it a serious issue for the company. Additionally, there are several factors such as water, abrasive, labor, power, parts, and miscellaneous that can affect the hourly running cost of a waterjet cutting machine. Additionally, the advanced control software for waterjet cutting machine adds an extra cost for any company operating a waterjet cutting machine

Opportunity: Increasing demand for waterjet cutting machines from industries in APAC

Industries such as automotive, food, electronics, and aerospace in emerging markets are registering a high growth rate, which is projected to drive the market for waterjet cutting machines. Automation is considered the largest and fastest-growing segment in the cutting industry as it considerably increases productivity and safety and reduces time, which fuels the demand for waterjet cutting machines. Additionally, the increased population in APAC produces an increased demand for effective mobility. Many countries across the APAC region stand out as strong competitors in the automotive sector. Countries such as Japan, China, and South Korea have car manufacturing companies. Waterjet cutting machines are likely to have a huge impact on the automotive, aerospace, and electronics industries, as they can be used to cut any materials used in industries.

Challenge: Development of cost-effective technologies

The waterjet cutting technology can be an expensive one for industries; however, they play an important part in various applications. Sensitivity, selectivity, stability, cost, and portability are the aspects that customers consider while purchasing such equipment. For instance, cutting machines based on waterjet technology are more expensive than machines based on traditional cutting technologies; however, these machines are far better in accuracy and reliability than the traditional ones. These devices are designed to meet requirements such as high sensitivity and selectivity but are highly-priced. Therefore, it remains a challenge to design a cost-effective technology that is affordable for consumers.