Waterjet Cutting Machines Market Will Generate All New Growth Opportunities, Projected To Reach USD 2,277.9 Million At a CAGR of 6.2%

Market Overview: The global waterjet cutting machines market was valued at USD 1,245.3 million in 2022 and is projected to experience a revenue compound annual growth rate (CAGR) of 6.2% during the forecast period. The market's growth is primarily driven by increasing government initiatives and funds supporting infrastructure development worldwide, a rising demand for wastewater treatment and disposal in industrial and commercial sectors, and advancements in cutting technologies.

Waterjet cutting machines are extensively used in mining activities, with various government authorities providing funds and investments to support the mining sector. For example, on January 20, 2022, the Federal Government announced support of more than USD 12 million to Australian companies for commercializing innovations and technological developments. Such initiatives are driving the adoption of waterjet cutting machines in various sectors.

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Market Dynamics: Drivers:

  • Government investments in construction and infrastructure projects, along with increased usage in wastewater disposal, are driving the market growth. China's construction industry, for instance, is projected to grow at an annual average of 5% between 2019 and 2023, and the government of Japan is partnering with private companies to introduce modern building technologies.
  • Government regulations on wastewater treatment and disposal are also contributing to market growth. For example, the Clean Water Act in the U.S. regulates pollution discharges into water bodies, and similar initiatives are taken by other countries like China, Spain, and the Netherlands.

Restraints:

  • Waterjet cutting machines tend to have prolonged cutting times, especially for thicker materials, compared to other cutting techniques like laser or plasma cutting.
  • Operating waterjet cutting machines can pose health-related risks, such as hearing damage and potential eye injuries from high-pressure water jet streams.

Key Takeaways:

  • The global waterjet cutting machines market is segmented into abrasive and non-abrasive types. The abrasive segment is expected to dominate the market due to its versatility in cutting applications, lack of harmful waste materials, high accuracy, and ability to be used on various materials.
  • In terms of product types, the robotic segment is projected to hold the largest revenue share. Robotic water jets find applications in multiple industries, including food, textile, automotive, electronics, and aerospace, and offer advantages like water recycling and reduced waste.
  • The construction sector is expected to be a significant end-use segment, driven by rising infrastructure development and government investments. For instance, the Biden-Harris Administration allocated USD 1.2 billion for nine infrastructure projects in the U.S.
  • Geographically, North America held the largest revenue share in the market, owing to rising industrialization, urbanization, and technological advancements. Europe experienced steady revenue growth, driven by the demand for eco-friendly cutting machines and stringent regulations supporting water recycling. The Asia Pacific region is expected to witness the highest revenue CAGR, driven by automation in the industrial sector, increasing industrial wastewater disposal, and infrastructure projects.

Competitive Landscape: The global waterjet cutting machines market is highly competitive, with multiple players operating globally and regionally. Key players are focusing on portfolio expansion, research and development, and strategic alliances to expand their market presence. Smaller businesses are also creating unique products to gain market presence. Some major companies in the market include Koike Aronson, Inc., Flow International, Omax Corporation, Dardi International Corporation, Belotti Spa, WARDJet, Kennametal Inc., Resato International, Hypertherm, Inc., and Techni Waterjet.

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