High productivity as well as accuracy and efficiency in the cutting of expensive/high-cost metals are offered by water jet cutting machine. Since there is no generation of heat or mechanical stress, the process is considered to be highly efficient. Thus, increase in the requirement for strict tolerance machines in precision cutting operations in the automotive industry, as well as other industries, is expected to boost the demand for water jet cutting machines.
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Water jet cutting machines find applications in several industries such as defence, metal cutting, semiconductors, aerospace, disposable products, food, glass, ceramics, paper, etc. A study by PMR on water jet cutting machines concludes that, the water jet cutting machine market is anticipated to reach US$ 2.6 Bn by the end of 2030, expanding at a CAGR of 8 % over the forecast years (2020-2030).
The COVID-19 pandemic has had a substantial impact on industrial tool production across the world. As the virus is rapidly spreading, governments have restricted all non-essential business and manufacturing activity, which will create disruptions in supply chains. Due to the COVID-19 pandemic, there has been a decline in industrial tooling activities for metal and composite materials.
However, with applications in fabricating food processing and automotive manufacturing equipment, the global water jet cutting machine industry is expected to pick up toward the latter part of 2020, according to PMR’s study.
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Key Takeaways of Water jet Cutting Machine Market Study
- An emerging trend in the water jet cutting machine market is the micro water-cutting technology, as this technology allows the cutting of minute parts with high precision and exceptional surface finish
- As a water jet cutting machine is a cold cutting process that does not include slag deformation and waste, which is quite common in plasma and laser cutting processes, this technology is considered to have certain green benefits. With the escalation in demand for sustainable machines, the demand for water jet cutting machines is anticipated to grow on a large scale.
- By end use, the metal fabrication segment is estimated to develop at a relatively high CAGR during the forecast years. Due to high demand for water jet cutting machines in manufacturing and fabrication industries, the segment is estimated to remain a crucial driver for the global water jet cutting machine market.
- Water jet cutting machines with intensifier pumps are anticipated to remain relatively popular due to their benefits over direct pump machines.
- Owing to the ever-growing demand from aerospace and healthcare industries, North America is estimated to hold a large share and remain dominant in the global water jet cutting machine throughout the forecast period.
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