According to Zion Market Research, the global waterjet cutting machine market size was almost USD 950 million in 2019 and is set to register a CAGR of approximately 5% during 2020-2027. The market expansion is influenced majorly due to massive trend of using eco-friendly cutting methods in construction, automotive, textile, mining, electronics, and packaging sectors. Moreover, need for precision and accurate cutting of material will further steer the market trends. The major players leveraging the market growth include Omax Corporation, Colfax Corporation, Koike Aronson, Inc., Dandi International Corporation, Flow International Corporation, Hornet Cutting Systems, and WARDJet, Inc.
Pure Waterjet Cutting Machine Market To Witness Remarkable Growth By 2027
The pure waterjet cutting machine sub-segment is anticipated to lead the type segment during the forecast timespan owing to the product being purest kind of waterjet cutting technology. Moreover, the pure waterjet cutting equipment operates by focusing high pressure water stream on soft material & thin material for precision cutting. This beneficial feature is expected to spur the product penetration across various manufacturing sectors over the foreseeable future.
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Automotive Sector To Dominate Application Landscape Over 2020-2027
Huge demand for manufacturing high precision automotive components has translated into large-scale acceptance of waterjet cutting machines in automotive component industry. Apart from this, waterjet cutting machines market share is going to surge in automotive sector due to the ability of the product in enhancing the operational efficiency of automotive processes.
Asia Pacific Market To Acquire Number One Position By 2027
The growth of the regional market over the forecast timespan is due to large-scale urbanization as well as industrialization witnessed in the countries like South Korea, China, and India. Additionally, massive utilization of waterjet cutting machines in material handling, metal & mining, and food & beverage will steer the regional market expansion over the estimated timespan.
This review is based on a report by Zion Market Research, titled "Waterjet Cutting Machine Market Size, Share & Trends Analysis Report - By Type (Pure and Abrasive), By Application (Automotive, Electronics, Aerospace & Defense, Mining, and Metal Fabrication), By Region, And Segment Forecasts, 2020 - 2027"
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