The waterjet cutting machine market was valued at USD 0.86 Billion in 2017 and is expected to reach USD 1.24 Billion by 2023, at a CAGR of 6.25% during the forecast period.

The objective of the report is to describe, segment, and forecast the market based on product type, application, industry, and geography. Significant factors influencing the growth of this market include promising growth in the global steel industry, growing automobile industry, development of the industrial sector in the Middle East and Africa, and an overall increase in construction activities.

The Waterjet Cutting Machine, or WCM, is an industrial instrument that cuts various materials with a high-pressure water jet stream. Pure water or an abrasive material may be blended in with the jet stream. Metals, glass, stone, foam, and reflective materials can all be cut with waterjet cutting technology without melting, distorting, or twisting their natural structure. Because waterjet cutting machines do not use heat to cut, the material being processed retains its original quality. Waterjet cutting is therefore ideal for cutting materials that are sensitive to high temperatures.

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The market for robotic waterjet cutting machines to grow at the highest CAGR from 2018 to 2023

A robotic waterjet cutting machine consists of an industrial robot and a high–pressure water jet system. The robotic waterjets are used to cut, drill, and clean a variety of materials. These are used to cut automobile internal parts, to cut holes, or trim the edges. Another common application of robot waterjet cutter is to cut helmet or similar 3D products. Depending on the size of parts to be cut, the model of a robot (i.e., the radius of the arm and weight carried by the arm) is selected.

Glass/metal art to hold the largest share of the waterjet cutting market by 2023

Glass/metal art has been the most common application of these machines all over the world. The growing demand for hurricane glass for car doors and windows in the automotive industry is driving the growth of the waterjet cutting machine market. The market for foam product cutting is projected to grow at the highest CAGR from 2018 to 2023. The rising demand for foam equipment and machine part packaging in the aerospace and automotive industries fuels the growth of the waterjet cutting machine market.

Waterjet Cutting Market in APAC to register the highest CAGR during the forecast period

The expansion of the metal fabrication and automotive sectors, as well as the increasing machine manufacturing sector in India and China, are driving market growth in APAC. The Indian government's "Make in India" initiative, which aims to enhance the country's manufacturing economy, is expected to boost demand for waterjet cutting equipment in the coming years. This effort focuses on 25 industries, including automobiles, aeroplanes, railways, and electrical machinery, with the goal of facilitating investments, developing world-class manufacturing infrastructure, and encouraging innovation.