The waterjet cutting machine 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. Companies operating in the waterjet cutting machine market have adopted various strategies such as product launches and development, and mergers and acquisitions in the last 4 years to grow in the market. Among these strategies, 31% of the developments were agreements, partnerships, and contracts; 54% of the developments were product launches and developments; 8% of the developments were expansions; and 8% of the developments were mergers and acquisitions.
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Browse 61 market data Tables and 31 Figures spread through 112 Pages and in-depth TOC on “Waterjet Cutting Machine Market – Global Forecast to 2023”
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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 companies involved in general metal fabrication, power generation and process industry, structural steel construction, heavy equipment fabrication, shipbuilding, automotive, and offshore oil and gas exploration and extraction provide the major business for the Lincoln Electric. In November 2013, Lincoln Electric Company acquired Robolution GmbH, a leading European company which is a provider of robotic arc cutting systems. Such acquisitions help Lincoln Electric Company expand its geographic reach.
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The leading players in the waterjet cutting machine market are Colfax Corporation (US), Lincoln Electric Holdings, Inc. (US), Flow International (US), Koike Aronson (US), Omax Corporation (US), KMT Waterjet (US), Hornet Cutting System (US), A Innovative International (India), and Semyx (US).
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