According to the new
market research report "Waterjet Cutting Machine Market by Product Type (3D, Micro, and Robotic),
Application (Glass/Metal Art, Fiberglass Cutting, Foam Product Cutting),
Industry (Automotive, Machine Manufacturing, Medical Devices), and Geography -
Global Forecast to 2023",
published by MarketsandMarkets™, the market is expected to reach USD 1,248.0 million by 2023 from USD 921.7 million by 2018, at a CAGR of 6.25% during
the forecast period. Factors such as promising growth in the global steel
industry, growing automobile industry, development of industrial sector in
the Middle East and Africa, and a comprehensive increase in construction
activities drive the growth of this market.
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3D waterjet cutting machines to account for largest size of
market during 2018-2023
The
3D waterjet cutting machines are expected to hold the largest size of the
waterjet cutting machine market by 2023. These cutting machines are suitable
for all manufacturing processes involving 3D cutting and job shops seeking to
expand their capabilities. 3D waterjet cutting systems are widely used in the
aerospace and automotive industries, as well as in the prototype development
applications of various industries.
Glass/metal art to hold largest size of waterjet cutting machine
market during forecast period
The glass/metal art
application is expected to account for the largest share of the waterjet
cutting machine market during the forecast period. Waterjets are the superior
method for cutting hurricane glass as the jets are omnidirectional and can cut
the complex patterns easily. In metal cutting, waterjets are ideally suited for
tough and lucrative applications such as titanium, brass, and tool steel
cutting, and aluminum and steel cutting.
APAC accounted for largest share of waterjet cutting machine
market in 2017
APAC
accounted for the largest share of the waterjet cutting machine market in 2017,
followed by North America and Europe. This market in APAC is also expected to grow
at the highest CAGR during the forecast period. The growth of the market in
APAC is driven by the expansion of the metal fabrication and automotive
industries, coupled with the growing machine manufacturing industry, in India and China,
among others. The efforts by the Government of India to
strengthen the country's manufacturing industry through its "Make in India" initiative is likely to propel the demand
for waterjet cutting machines in the next few years. This initiative focuses on
25 sectors, which include automobiles, aerospace, and railways and electrical
machinery; it aims to facilitate investments, build high-class manufacturing
infrastructure, and foster innovation in the country.
