Waterjet Cutting Machinery Market: High Demand from Automotive and Fabrication Sector Driving Growth, says TMR
Albany,NY, November 17, 2017 (Newswire.com) - A total share of 34.8% was occupied by Flow International Corporation, Water Jet Sweden AB, DARDI International Corporation, and WARDjet, Inc., in the global waterjet cutting machinery market in 2015, states a new report by Transparency Market Research (TMR). In terms of competitive landscape, the future of the global waterjet cutting machinery is expected to be tough for all market players. This is because of the consolidatory activities undertaken by key players in terms of forward integration and the provision for comprehensive waterjet cutting solutions. The global waterjet cutting machinery market is anticipated to witness extremely low rate of increase in the number of new entrants. This is on account of high cost of installation and maintenance of waterjet cutting machinery. Buyers are also reluctant to switch between players on account of high cost of switching.
According to TMR, the global waterjet cutting machinery market is expected to rise from US$1.66 bn in 2016 reach and US$3.11 bn by the end of 2024. The market is anticipated to expand at an 8.1% CAGR from 2016 to 2024. On the basis of application, the market is estimated to be led by the jobs and machine shops segment. The demand for jobs and machine shops has always been high from the cutting tools and machinery.
Benefits such as Eco-friendly Nature and Cost Effective in Terms of Raw Material to Drive Demand
The global waterjet cutting machinery market is driven by high demand from the automotive and fabrication sector, for these tools. The demand for process automation is increasing across many industries and this is fueling the growth of the global waterjet cutting machinery market. The demand for these tools is high for process automation in the automotive industry on account of the high rate of customization that its products can offer. The demand for waterjet cutters is increasing as they help get a job done in much less time than traditional cutting machinery. These tools are eco-friendly in terms of power consumption and emissions. Waterjet cutting tools do not leave dust, heat, or smoke.
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“As water is the key raw material used for cutting, it makes waterjet cutters very economical in terms of raw material,” states a TMR analyst. This is also beneficial for manufacturing companies. Another reason behind the expected growth of the waterjet cutting machinery market in the years to come is the fact that nations such as China, India, and the U.S. are actively poised to ramp up their industrial processes.
High Cost of Maintenance and Concern Regarding Worker Safety to Pose Challenge for Market
One of the key factors hampering the growth of this market is the high cost of maintenance that waterjet cutters require. Frequent wear and tear of mixing chambers and nozzles on account of high pressure at which waterjet cutters operate will be a big challenge. Mixing chambers are complex parts and the replacement cost of these parts is very high. Another big problem with the waterjet cutting machinery is the need to update safety regulations for those workers who are operating these machines. These machineries are dangerous for the fingers of the workers operating them and there also lies a tremendous scope of high-speed debris flying from the machine which can cause fatal eye injuries to workers. In addition to these issues, the fact that waterjet cutters are extremely loud can cause hearing impairments of workers if no hearing protection is used.
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The information presented in this review is based on a Transparency Market Research report, titled, “Waterjet Cutting Machinery Market (Products - 3D Waterjet Cutting, Micro Waterjet Cutting, and Robotic Waterjet; Machine Sizes - Small Size, Medium Size and Large Size; Applications - Job & Machine Shop, Exotic Metal and Non-traditional Material Cutting, Machine Manufacturing, Ceramic/Stone Cutting, Glass/Metal Artwork, Gasket Cutting, Fiberglass Cutting, Surgical Instrument manufacturing, Foam Product Cutting, Slitting Operations, and Electronics; Pressure Ranges - Up to 4,200 Bar and More than 4,200 Bar; Horsepower - Up to 4,200 Bar and More than 4,200 Bar) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024”
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Source: Transparency Market Research