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According to a recently published Fact.MR report, the global waterjet cutting machines industry will experience a CAGR of nearly 5%, topping US$ 1.5 Bn by the end of the 2021-2031 assessment period. According to the study, sales are widening on the back of increased demand for precision based and environmentally sustainable cutting technologies.
From 2016 to 2020, the waterjet cutting machines market experienced steady growth, clocking a CAGR of 4% to surpass US$ 900 Mn by 2020. Amidst the COVID-19 pandemic, prospects declined considerably, especially in the automotive sector, given the sluggish outlook amidst the imposition of lockdowns, combined with a general slowdown in the global landscape prior to the onset of the pandemic.
Manufacturers are expected to find maximum opportunities in the aerospace and defence sector. Studies advocate that global military expenditure surged by 2.6%, reaching close to US$ 2 trillion in 2020, despite reallocating funds to eradicate the pandemic, according to the Stockholm International Peace Research Institute, adding a total GDP average of 2.4% in 2020.
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Global Waterjet Cutting Machine Market: In-Depth Assessment on Key Segments
The global waterjet cutting machine market is segmented on the basis of type, application and region.
- Aerospace & Defense
- Metal Fabrication
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
- In March 2018, Bystronic, Inc. announced the full acquisition of their strategic partner TTM Laser S.p.A., a successful Italian technology company that specializes in the development of 2D and 3D laser systems for the cutting of tubes and profiles, and for the welding of large-format metal sheets.
- In 2018, Bystronic has significantly expanded its existing portfolio of sheet metal fabricating technologies with new solutions for automation, warehouse integration, and digital networking.
- In November 2020, Colfax Corporation, through its wholly-owned subsidiary DJO, LLC, completed the acquisition of extremity product lines from Stryker Corporation at US$ 15 Mn. The announcement is welcoming Colfax’s entry into the foot and ankle market.
Why is the U.S Fuelling Demand for Waterjet Cutting Machines?
The U.S is estimated to dominate the global waterjet cutting machine landscape, accounting for a revenue share of 36% from 2021 to 2031. Early are leveraging waterjet cutting machines to curtail the energy consumption and maximize precision of corners, bevels, holes, and shapes.
Demand for pure waterjet cutting machines is expected to be dominant across the U.S until 2031. Applications abound across robotics, food & beverage and tobacco packaging, which is anticipated to propel the regional market over the forecast period.
Why are Waterjet Cutting Machine Sales Booming in China?
China is likely to emerge as an opportunistic market. Owing to increasing investment in automotive and manufacturing sectors as well as consistent advent of new technologies, waterjet cutting machine market in China has outpaced other countries.
Mounting industrialization as well as the manufacturing sector will also generate significant growth opportunities in the waterjet cutting machine consumables market. Fact.MR expects the East Asian giant to expand at over 6% CAGR through 2031.
Moreover, the waterjet cutting machine consumables market is backed by growth in construction and metal fabrication industries, thereby the market is likely to gain high traction in the country.
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Key Takeaways from the Market Study:
- Global waterjet cutting machine market anticipated to add 1.6x value by 2031.
- Abrasive waterjet cutting machines to retain market dominance, yielding 85% revenue
- By application, aerospace & defense to surge at nearly 7% CAGR through 2031
- Automotive applications to account for 1/4th of the global market for waterjet cutting machines
- U.S to capture 36% of global revenue for waterjet cutting machines until 2031
- China likely to register a CAGR of 6% from 2021 to 2031
“The advent of latest technologies like multi axis waterjet cutting alongside 3D cutting spur global sales of Waterjet cutting machine. However, exceptional high efficiency adds value to market, thereby boosting the demand for Waterjet cutting machine in forthcoming years.” comments a Fact.MR analyst
Read More Trending Reports of Fact.MR – https://www.einpresswire.com/article/557184794/why-are-stick-built-aluminum-curtain-walls-gaining-traction-post-pandemic-check-latest-report-by-fact-mr
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