The waterjet cutting machine market was valued at USD 861.4 million in 2017 and is expected to reach USD 1,248.0 million by 2023, at a CAGR of 6.25% during the forecast period. The base year considered for the study is 2017, and the forecast period is from 2018 to 2023.

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

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

Waterjet Cutting Machine Market Dynamics

Driver: Comprehensive increase in construction activities

The growth of the construction industry fosters the growth of the metal industry. The demand for waterjet cutting machines has been increasing with the rising construction and manufacturing industries. The factors that significantly contribute to the growth of the construction industry are as follows:

Urbanization
Higher standards of sustainable living
New technologies driving innovations in the construction industry

Restraint: High total cost of ownership and requirement of technical know-how

The overall waterjet cutting machine market is growing at a significant pace; however, there some issues restraining the growth of this market. 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. Problems related to accuracy, drift, and sensitivity can only be solved with the proper and timely maintenance of these machines; thus, timely maintenance is must for the proper functioning of waterjets. Moreover, regular calibration is necessary for the efficient functioning of these machines; the process of calibration is mostly outsourced by the companies. Majority of the end users install these machines and use them with minimal maintenance to avoid extra cost, which affects their performance in the long term.

The cost of waterjet cutting machines is also high due to the complicated process of manufacturing these machines. These machines may cost 2–4-times more than that of traditional cutting machinery.

Opportunity: Growing demand for waterjet cutting machines in wind energy Industry

The wind energy industry has witnessed rapid growth in the past few years, and this trend is expected to continue in the coming years. This industry involves the use of latest cutting technologies to manufacture wind turbine towers and their substructures to ensure lower costs. Waterjet cutting machine manufacturers primarily target the wind turbine manufacturers to producing customized cutting systems for them. The rising demand for and importance of wind energy is expected to support and fuel the growth of the waterjet cutting machine market.

Request Free Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=183785572

Challenge: Development of cost-effective technologies

The waterjet cutting technology is an expensive one for the commercial and residential customers; however, they play an important part in these sectors. Sensitivity, selectivity, stability, cost, and portability are the aspects looked for by customers while purchasing these equipment. For instance, cutting machines based on waterjet technology are more expensive than the 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 the consumers from almost all sectors.

Key Market Players

Colfax Corporation (US), Lincoln Electric Holdings, Inc. (US), Flow International (US), Koike Aronson, Inc. (US), Omax Corporation (US), KMT Waterjet (US), Hornet Cutting System (US), A Innovative International (India), and Semyx (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]