Waterjet Cutting Machine Market

Waterjet Cutting Machine Market by Product Type (3D, Micro, and Robotic), Application (Glass/Metal Art, Fiberglass Cutting, Foam Product Cutting), Industry (Automotive, Machine Manufacturing, Medical Devices), and Geography - Global Forecast to 2023

Report Code: SE 6540 Aug, 2018, by marketsandmarkets.com
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[112 Pages Report] The waterjet cutting machine market was valued at USD 861.4 million in 2017 and is expected to reach USD 1,248.0 million by 2023, at a CAGR of 6.25% during the forecast period. The base year considered for the study is 2017, and the forecast period is from 2018 to 2023. The objective of the report is to describe, segment, and forecast the market on the basis of product type, application, industry, and geography. Major factors influencing the growth of this market include promising growth in global steel industry, growing automobile industry, development of the industrial sector in the Middle East and Africa and comprehensive increase in construction activities.

Waterjet Cutting Machine Market

By product type, 3D waterjet cutting machines to hold largest size of waterjet cutting machine market during the forecast period

In 2017, 3D waterjet cutting machines accounted for 55% of the overall market. The market for 3D waterjet cutting machines is estimated at USD 574.1 million by 2023, and it is expected to grow at a CAGR of 3.09% from 2018 to 2023. The growing demand for metals in the fabrication industry is driving the growth of the market. The robotics market for waterjet cutting machine was valued at USD 258.4 million in 2017 and is projected to reach USD 479.2 million by 2023, at a CAGR of 10.61% during the forecast period.

By application, glass/metal art to hold largest size of waterjet cutting machine market during the forecast period

The waterjet cutting machine market was valued at USD 861.4 million in 2017 and is expected to reach USD 1248.0 million by 2023, at a CAGR of 6.25% during the forecast period. Glass/metal art has been the most common application of these machines all over the world, and the market for this application is estimated to be USD 272.51 million by 2018. The growing demand for hurricane glass for car doors and windows in the automotive industry is driving the growth of the market. The market for foam product cutting is projected to grow at the highest CAGR of 8.18% from 2018 to 2023. The rising demand for foam equipment and machine part packaging in the aerospace and automotive industries fuels the growth of the market.

By industry, automotive accounted for largest size of the waterjet cutting machine market during the forecast period

The market for automotive was valued at USD 196.83 million in 2017. The improved flexibility of cutting equipment and ease of automation meet the requirements of the automotive industry, which drives the market. The aerospace industry accounted for the second-largest share of 15.85%, and the market for the same was valued at USD 136.53 million. The high demand for welded metals in the metal fabrication industry is driving the growth of the market.

APAC held largest share of waterjet cutting machine market during the forecast period

APAC accounted for the largest share of ~40% of the global waterjet cutting machine market in 2017. The market in APAC is expected to grow at the highest CAGR of 12.79% during the forecast period. The growth of the market in APAC is driven by the expansion of the metal fabrication and automotive industries, coupled with the growing machine manufacturing industry in India and China, among others. The efforts by the Government of India to strengthen the country’s manufacturing industry through its “Make in India” initiative is likely to propel the demand for waterjet cutting machines in the next few years. This initiative focuses on 25 sectors, which include automobiles, aerospace, and railways and electrical machinery; it aims to facilitate investments, build high-class manufacturing infrastructure, and foster innovation. North America was the second-largest market for waterjet cutting machines in 2017, while the market in Europe was the third-largest in the same year.

Waterjet Cutting Machine Market

Market Dynamics

Driver: Comprehensive increase in construction activities

The growth of the construction industry fosters the growth of the metal industry. The demand for waterjet cutting machines has been increasing with the rising construction and manufacturing industries. The factors that significantly contribute to the growth of the construction industry are as follows:

  • Urbanization
  • Higher standards of sustainable living
  • New technologies driving innovations in the construction industry

Restraint:  High total cost of ownership and requirement of technical know-how

The overall waterjet cutting machine market is growing at a significant pace; however, there some issues restraining the growth of this market. High energy consumption, sensitivity to environmental conditions, probability of improper selection, poor maintenance, high cost of ownership, and difficulties faced during fabrication are some of the major problems faced during the handling of any equipment.

The energy consumed by waterjet cutting machines directly contributes to the operating cost of any company, which makes it a serious issue for the company. Problems related to accuracy, drift, and sensitivity can only be solved with the proper and timely maintenance of these machines; thus, timely maintenance is must for the proper functioning of waterjets. Moreover, regular calibration is necessary for the efficient functioning of these machines; the process of calibration is mostly outsourced by the companies. Majority of the end users install these machines and use them with minimal maintenance to avoid extra cost, which affects their performance in the long term.

The cost of waterjet cutting machines is also high due to the complicated process of manufacturing these machines. These machines may cost 2–4-times more than that of traditional cutting machinery.

Opportunity: Growing demand for waterjet cutting machines in wind energy Industry

The wind energy industry has witnessed rapid growth in the past few years, and this trend is expected to continue in the coming years. This industry involves the use of latest cutting technologies to manufacture wind turbine towers and their substructures to ensure lower costs. Waterjet cutting machine manufacturers primarily target the wind turbine manufacturers to producing customized cutting systems for them. The rising demand for and importance of wind energy is expected to support and fuel the growth of the waterjet cutting machine market.

Challenge: Development of cost-effective technologies

The waterjet cutting technology is an expensive one for the commercial and residential customers; however, they play an important part in these sectors. Sensitivity, selectivity, stability, cost, and portability are the aspects looked for by customers while purchasing these equipment. For instance, cutting machines based on waterjet technology are more expensive than the machines based on traditional cutting technologies; however, these machines are far better in accuracy and reliability than the traditional ones. These devices are designed to meet requirements such as high sensitivity and selectivity but are highly priced. Therefore, it remains a challenge to design a cost-effective technology that is affordable for the consumers from almost all sectors.

Waterjet Cutting Machine Market

Scope of the Report

Report Metric

Details

Market size available for years

2015–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Dollar (USD) and Million (USD)

Segments covered

Product type, Application, Industry, and Region

Geographies covered

North America, Europe, APAC, RoW (South America, Middle East, and Africa)

Companies covered

Colfax Corporation (US), Lincoln Electric Holdings, Inc. (US), Flow International (US), Koike Aronson, Inc. (US), Omax Corporation (US), KMT Waterjet (US), Hornet Cutting System (US), A Innovative International (India), and Semyx (US). 

The report scope covers the market based on the following segments:

Waterjet Cutting Machine Market, by Product Type

  • 3D waterjet cutting machines
  • Micro waterjet cutting machines
  • Robotics waterjet cutting machines

Waterjet Cutting Machine Market, by Application

  • Exotic metal and non-traditional material cutting
  • Ceramic/stone cutting
  • Glass/metal Art
  • Gasket cutting
  • Fiberglass cutting
  • Foam product cutting

Waterjet Cutting Machine Market, by Industry

  • Electronics
  • Metal fabrication
  • Automotive
  • Aerospace
  • Food Processing
  • Textile
  • Machine Manufacturing
  • Medical Device

Waterjet Cutting Machine Market, by Geography

  • North America
  • Europe
  • APAC
  • RoW

Key Market Players

Colfax Corporation (US), Lincoln Electric Holdings, Inc. (US), Flow International (US), Koike Aronson, Inc.  (US), Omax Corporation (US), KMT Waterjet (US), Hornet Cutting System (US), A Innovative International (India), and Semyx (US).

Colfax has built its business through a series of acquisitions as well as organic growth. On similar lines, the company plans to derive a significant portion of its growth by acquiring other businesses and integrating them successfully into its existing operations. The company intends to seek acquisition opportunities both, in terms of expanding new markets and enhancing its position in the existing market. Between 2011 and 2015, Colfax acquired 3 major companies dealing with the welding equipment market—Charter International plc, Soldex SA, and Victor Technologies Holdings, Inc. Each of these acquisitions helped broaden the company’s core competencies, especially in South America. The growth of Colflax is driven by the cutting market; this market is growing at a fast pace, which is expected to be an added advantage to the company. Its focus on pursuing value-creating acquisitions will aid in its growth in the emerging markets. The company acquired Soldex SA for USD 235 million in May 2012; this acquisition helped it strengthen its position in the South American cutting products market. Also, in September 2011, Colfax acquired Charter International plc for USD 2.4 billion. This acquisition helped the company strengthen its footprint in the air and gas handling solutions segment, along with the cutting solutions segment; it provides the cutting solutions through 2 divisions—Howden and ESAB.

Recent Developments

  • In January 2016, ESAB announced Columbus CAD/CAM Nesting Software version 1.3, a powerful CAD/CAM programming and nesting software optimized for plasma, oxy-fuel, laser, and waterjet cutting.
  • In November 2017, Flow International launched Mach 200, an entirely new system designed as a practical and flexible waterjet solution. 
  • In September 2017, OMAX Corporation launched ProtoMAX abrasive waterjet, a compact, self-installed cutting system ideal for prototyping and relatively low volume cutting of almost any material with less than 2” thickness.
  • In September 2016, KMT Waterjet Systems Inc. introduced KMT Streamline PRO-III 90,000 psi series pumps for cutting metals (including aluminum and titanium), steel, stainless steel, rubber, plastic, and glass.
  • In May 2018, Hornet Cutting Systems announced a distribution partnership with Minneapolis Oxygen Company. According to this partnership, Minneapolis Oxygen Company would be benefited from an industry-leading CNC cutting machine line of Hornet, and this would enable Hornet Cutting Systems to improve its presence in the Twin Cities, Northern Minnesota, and Northwest.

Key Questions Answered

  • Where will all these developments take the industry in the long term?
  • What are the upcoming trends for the Waterjet Cutting Machine market?
  • Which segment provides the most opportunity for growth?
  • Who are the leading vendors operating in this market?
  • What are the opportunities for new market entrants?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Study Objectives
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Years Considered
    1.4 Currency Considered
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 16)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 28)
    4.1 Lucrative Opportunities in Waterjet Cutting Machine Market
    4.2 Market, By Application
    4.3 Market in APAC, By Industry, 2017
    4.4 Market, By Industry
    4.5 Market Share of Major Countries and Regions, 2017

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Promising Growth in Global Steel Industry
                    5.2.1.2 Growing Automobile Industry
                    5.2.1.3 Development of Industrial Sector in the Middle East and Africa
                    5.2.1.4 Comprehensive Increase in Construction Activities
           5.2.2 Restraints
                    5.2.2.1 High Total Cost of Ownership and Requirement of Technical Know-How
           5.2.3 Opportunities
                    5.2.3.1 Increasing Demand for Mechanized Cutting in Industrial Sector of Developing Economies
                    5.2.3.2 Growing Demand for Waterjet Cutting Machines in Wind Energy Industry
           5.2.4 Challenges
                    5.2.4.1 Development of Cost-Effective Technologies

6 Waterjet Cutting Machine Market, By Product Type (Page No. - 36)
    6.1 Introduction
    6.2 3D Waterjet Cutting Machines
    6.3 Micro Waterjet Cutting Machines
    6.4 Robotic Waterjet Cutting Machines

7 Waterjet Cutting Machine Market, By Application (Page No. - 58)
    7.1 Introduction
    7.2 Exotic Metal & Non-Traditional Material Cutting
    7.3 Ceramic/Stone Cutting
    7.4 Glass/Metal Art
    7.5 Gasket Cutting
    7.6 Fiberglass Cutting
    7.7 Foam Product Cutting

8 Waterjet Cutting Machine Market, By Industry (Page No. - 61)
    8.1 Introduction
    8.2 Electronics
    8.3 Metal Fabrication
    8.4 Automotive
    8.5 Aerospace
    8.6 Food Processing
    8.7 Textile
    8.8 Machine Manufacturing
    8.9 Medical Device

9 Geographic Analysis (Page No. - 68)
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 UK
           9.3.3 France
           9.3.4 Italy
           9.3.5 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 India
           9.4.4 South Korea
           9.4.5 Rest of APAC
    9.5 Rest of the World
           9.5.1 Middle East
           9.5.2 South America
           9.5.3 Africa

10 Competitive Landscape (Page No. - 85)
     10.1 Overview
     10.2 Ranking Analysis
     10.3 Competitive Situations & Trends
             10.3.1 Product Developments & Launches
             10.3.2 Partnerships/Agreements/Collaborations
             10.3.3 Acquisitions

11 Company Profiles (Page No. - 90)
     11.1 Introduction
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
     11.2 Colfax Corporation
     11.3 Lincoln Electric Company
     11.4 Flow International
     11.5 Omax Corporation
     11.6 KMT Waterjet
     11.7 Hornet Cutting Systems
     11.8 A Innovative International Ltd.
     11.9 Koike Aronson
     11.10 Semyx

*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 106)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (61 Tables)

Table 1 Waterjet Cutting Machine Market, By Product Type, 2015–2023 (USD Million)
Table 2 3D Waterjet Cutting Machines Market, By Application, 2015–2023 (USD Million)
Table 3 3D Waterjet Cutting Machines Market, By Industry, 2015–2023 (USD Million)
Table 4 3D Waterjet Cutting Machines Market for Electronics, By Region, 2015–2023 (USD Million)
Table 5 3D Waterjet Cutting Machines Market for Metal Fabrication, By Region, 2015–2023 (USD Million)
Table 6 3D Waterjet Cutting Machines Market for Automotive, By Region, 2015–2023 (USD Million)
Table 7 3D Waterjet Cutting Machines Market for Aerospace, By Region, 2015–2023 (USD Million)
Table 8 3D Waterjet Cutting Machines Market for Food Processing, By Region, 2015–2023 (USD Million)
Table 9 3D Waterjet Cutting Machines Market for Textile, By Region, 2015–2023 (USD Million)
Table 10 3D Waterjet Cutting Machines Market for Machine Manufacturing, By Region, 2015–2023 (USD Million)
Table 11 3D Waterjet Cutting Machines Market for Medical Device, By Region, 2015–2023 (USD Million)
Table 12 3D Waterjet Cutting Machines Market, By Region, 2015–2023 (USD Million)
Table 13 Micro Waterjet Cutting Machines Market, By Application, 2015–2023 (USD Million)
Table 14 Micro Waterjet Cutting Machines Market, By Industry, 2015–2023 (USD Million)
Table 15 Micro Waterjet Cutting Machines Market for Electronics, By Region, 2015–2023 (USD Million)
Table 16 Micro Waterjet Cutting Machines Market for Metal Fabrication, By Region, 2015–2023 (USD Million)
Table 17 Micro Waterjet Cutting Machines Market for Automotive, By Region, 2015–2023 (USD Million)
Table 18 Micro Waterjet Cutting Machines Market for Aerospace, By Region, 2015–2023 (USD Million)
Table 19 Micro Waterjet Cutting Machines Market for Food Processing, By Region, 2015–2023 (USD Million)
Table 20 Micro Waterjet Cutting Machines Market for Textile, By Region, 2015–2023 (USD Million)
Table 21 Micro Waterjet Cutting Machines Market for Machine Manufacturing, By Region, 2015–2023 (USD Million)
Table 22 Micro Waterjet Cutting Machines Market for Medical Device, By Region, 2015–2023 (USD Million)
Table 23 Micro Waterjet Cutting Machines Market, By Region, 2015–2023 (USD Million)
Table 24 Robotic Waterjet Cutting Machines Market, By Application, 2015–2023 (USD Million)
Table 25 Robotic Waterjet Cutting Machines Market, By Industry 2015–2023 (USD Million)
Table 26 Robotic Waterjet Cutting Machines Market for Electronics, By Region, 2015–2023 (USD Million)
Table 27 Robotic Waterjet Cutting Machines Market for Metal Fabrication, By Region, 2015–2023 (USD Million)
Table 28 Robotic Waterjet Cutting Machines Market for Automotive, By Region, 2015–2023 (USD Million)
Table 29 Robotic Waterjet Cutting Machines Market for Aerospace, By Region, 2015–2023 (USD Million)
Table 30 Robotic Waterjet Cutting Machines Market for Food Processing, By Region, 2015–2023 (USD Million)
Table 31 Robotic Waterjet Cutting Machines Market for Textile, By Region, 2015–2023 (USD Million)
Table 32 Robotic Waterjet Cutting Machines Market for Machine Manufacturing, By Region, 2015–2023 (USD Million)
Table 33 Robotic Waterjet Cutting Machines Market for Medical Device, By Region, 2015–2023 (USD Million)
Table 34 Robotic Waterjet Cutting Machines Market, By Region, 2015–2023 (USD Million)
Table 35 Market, By Application, 2015–2023 (USD Million)
Table 36 Market, By Industry, 2015–2023 (USD Million)
Table 37 Market for Electronics, By Region, 2015–2023 (USD Million)
Table 38 Market for Metal Fabrication, By Region, 2015–2023 (USD Million)
Table 39 Market for Automotive, By Region, 2015–2023 (USD Million)
Table 40 Market for Aerospace, By Region, 2015–2023 (USD Million)
Table 41 Market for Food Processing, By Region, 2015–2023 (USD Million)
Table 42 Market for Textile, By Region, 2015–2023 (USD Million)
Table 43 Market for Machine Manufacturing, By Region, 2015–2023 (USD Million)
Table 44 Market for Medical Devices, By Region, 2015–2023 (USD Million)
Table 45 Market, By Region, 2015–2023 (USD Million)
Table 46 Market in North America, By Industry 2015–2023 (USD Million)
Table 47 Market in North America, By Product Type, 2015–2023 (USD Million)
Table 48 Market in North America, By Country, 2015–2023 (USD Million)
Table 49 Market in Europe, By Industry, 2015–2023 (USD Million)
Table 50 Market in Europe, By Product Type, 2015–2023 (USD Million)
Table 51 Market in Europe, By Country, 2015–2023 (USD Million)
Table 52 Market in APAC, By Industry, 2015–2023 (USD Million)
Table 53 Market in APAC, By Product Type, 2015–2023 (USD Million)
Table 54 Market in APAC, By Country, 2015–2023 (USD Million)
Table 55 Market in RoW, By Industry, 2015–2023 (USD Million)
Table 56 Market in RoW, By Product Type, 2015–2023 (USD Million)
Table 57 Market in RoW, By Region, 2015–2023 (USD Million)
Table 58 Market Ranking: Waterjet Cutting Machine (2017)
Table 59 Product Developments/Launches, 2014–2018
Table 60 Partnership, Agreement, and Collaborations, 2016–2018
Table 61 Acquisitions, 2014


List of Figures (31 Figures)

Figure 1 Waterjet Cutting Machine Market
Figure 2 Process Flow of Market Size Estimation for Waterjet Cutting Machine Market
Figure 3 Research Design: Waterjet Cutting Machine Market
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Market, 2018 vs 2023: Glass/Metal Art to Hold Largest Size By 2023
Figure 8 Automotive Accounted for Largest Size of Market in 2017
Figure 9 3D Waterjet Cutting Machines to Hold Largest Size of Market During 2018–2023
Figure 10 APAC Held Largest Share of Market in 2017
Figure 11 Emerging Economies to Offer Attractive Opportunities for Market Growth From 2018 to 2023
Figure 12 Glass/Metal Art to Hold Largest Market Size During Forecast Period
Figure 13 China Held Largest Share of Market in APAC in 2017
Figure 14 Automotive to Hold Largest Size of Market Between 2018 and 2023
Figure 15 APAC Accounted for Largest Share of Market in 2017
Figure 16 Development of Industrial Sector in Middle East and Africa Drives Growth of Market
Figure 17 Market for Robotic Waterjet Cutting Machines to Grow at Highest CAGR From 2018 to 2023
Figure 18 3D Waterjet Cutting Machines Market for Automotive to Grow at Highest CAGR (2018–2023) From 2018 to 2023
Figure 19 3D Waterjet Cutting Machines Market in APAC to Grow at Highest CAGR (2018–2023) From 2018 to 2023
Figure 20 Micro Waterjet Cutting Machines Market for Foam Product Cutting to Grow at Highest CAGR (2018–2023) From 2018 to 2023
Figure 21 Robotic Waterjet Cutting Machines Market in APAC to Grow at Highest CAGR (2018–2023) From 2018 to 2023
Figure 22 Foam Product Cutting Accounted for Highest CAGR of Market in 2017
Figure 23 Market for Automotive to Grow at Highest CAGR During Forecast Period
Figure 24 North America: Market Snapshot
Figure 25 Europe: Market Snapshot
Figure 26 APAC: Market Snapshot
Figure 27 RoW: Market Snapshot
Figure 28 Companies Adopted Partnerships, Agreements, and Collaborations as Key Growth Strategies During 2014–2018
Figure 29 Agreements, Contracts, Collaborations, and Partnerships as Key Strategies Adopted By Companies During 2014–2018
Figure 30 Colfax Corporation: Company Snapshot
Figure 31 Lincoln Electric Company: Company Snapshot


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