Waterjet Cutting Machine Market Size – Global Forecast to 2026

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.

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COVID-19 impact on the waterjet cutting machine market

In 2020, COVID-19 had a negative effect on the waterjet cutting machine market, resulting in decreased revenues generated from them. As a result, a drop was witnessed in the growth trend of the market during the first half of 2020. This trend is expected to discontinue in the latter half of the year as the demand is expected to increase due to the growing concern for waterjet cutting machine.

The COVID-19 pandemic has substantially impacted the value chain of the waterjet cutting machine market. The US, China, India, South Korea, and Japan, which have been adversely affected by the pandemic, account for a significant share of the global waterjet cutting machine. Electronics, automotive, aerospace, witnessed a low demand, which is expected to continue for the short term due to the global slowdown and declining purchasing power.

The abrasive segment to hold the largest size of waterjet cutting machine market by 2026

The abrasive waterjet cutting machines use abrasive materials in the high-pressure waterjet to cut the materials. These machines are used for cutting applications such as glass, metal, stone, and tile cutting. They are used in industries such as aerospace & defense, automotive, and metal fabrication.

The automotive to account for the largest size of the waterjet cutting machine market in 2021.

Waterjet cutting machines are used for the interior and exterior cutting of headliners, carpets, liners, dumpers, door and instrument panels, seats, composite parts, and castings of vehicles. The use of waterjet cutting machines improves the flexibility of cutting equipment and enables ease with automation for the automotive industry, which drives the growth of the waterjet cutting machine market for this industry.

North America projected to be the largest market for a waterjet cutting machine from 2021 to 2026

The region has witnessed rapid growth in industries such as automotive, electronics, food, and aerospace. The growth in this market can be attributed to the large industrial base and high production capacity of companies in the country. The US is one of the largest automotive markets in the world and is home to several auto manufacturers, which is driving demand for waterjet cutting machines used for cutting headliners, door panels, carpets, liners, dumpers, composite parts, and castings. Additionally, industries such as aerospace & defense, and food provide good opportunities for waterjet cutting machines as they are used for cutting various materials.

Key Market Players

The waterjet cutting machine players have implemented various types of organic as well as inorganic growth strategies, such as new product launches, and acquisitions to strengthen their offerings in the market. The major players in the waterjet cutting machine market are Omax (US), Flow (US), Koike Aronson (US), Wardjet (US), Dardi (China), Lincoln Electric (US), Techni Waterjet (Australia), KMT (US), Colfax (US), Waterjet Sweden (Sweden), Innovative (India), Hornet Cutting System (US), Jekran (Malta), STM waterjet (Austria), International Waterjet Machines (US), Waterjet Corporation (Italy), Swaterjet (China), Foshan Yongshengda Machinery (China), Resato (Netherlands), Accurl (US), LDSA (France), Kimtech (Sweden), Jet Edge (US), Microstep (Slovakia).