The Global Market for Waterjet Cutting Machines is Forecast to Reach US$1.15 Billion by 2020
Resurgence in Manufacturing Activity Drives the Global
Waterjet Cutting Machines Market, According to New Report by Global Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Waterjet Cutting Machines. The global
market for Waterjet Cutting Machines
is forecast to reach US$1.15 billion by 2020,
driven by resurgence in manufacturing activity, robust demand from key
end-use industries, and technological advancements.
Waterjet
technology utilizes a thin stream of ultra high-pressure (UHP) water to deliver
precision cutting and specialty cleaning services to various end-use industries
such as aerospace, construction, automotive, marine, and mining. Waterjet
cutting systems continue to be the preferred machine tool for manufacturing
processes due to its superior attributes such as the ability to machine thicker
materials, superior edge finish, tight tolerances, eco-friendly nature and
safety and versatility of the technology. Capability to cut wide range of
material types such as metals, non-metals, stone, plastics, wood, and ceramics
represents the most important attribute of waterjet cutting technology.
Waterjet
cutting machines currently represent one of the fastest growing cutting
machines within the broader machine tools industry. The market continues to be
driven by rapid mushrooming of job shops in developing countries, against a
backdrop of mass exodus of production activity from developed markets to low cost
destinations such as China, India, Taiwan, and Vietnam. Increasing capital investments in the aerospace and
defense sector as well as strong automotive production in developing countries
represent other important growth drivers. Upgrading and modernization of
creaking production infrastructure and aging installed bases in many of the
industrialized nations offers attractive growth opportunities in the coming
years.
Modern waterjet
cutting machines are powered by highly advanced user interface with computer
touch screens that enable workers to efficiently handle multiple cutting tasks.
New processor architectures including 3D design and advanced cooling are
expected to take efficiency and performance of these machines to the next level
thus benefiting market adoption and expansion. Increasing acceptance of 3D
waterjet cutting systems for high precision cutting that requires increased
levels of accuracy is also poised to benefit the market in the near term.
As stated by the new market research report on Waterjet Cutting
Machines, the United States represents the largest market worldwide, followed
by Europe. Asia-Pacific represents the fastest growing market with a CAGR of
11% over the analysis period. Widespread outsourcing and shifting of
manufacturing activities to low cost developing countries; increased
infrastructure development activities in sectors such as manufacturing, power,
shipbuilding and other utilities; and steady economic development in countries
such as China, India, Taiwan, South Korea, Thailand, and Malaysia represent key
growth drivers in the region.
Key players covered in the report include Bystronic Group, Dardi
International Corporation, ESAB Cutting Systems, Flow International
Corporation, Huffman Corporation, Jet Edge Inc., KMT Waterjet Systems Inc.,
Omax Corporation, Nuclear Engineering Services, Resato International BV, Water
Jet Sweden AB, Waterjet Corporation S.r.l, and WARDJet Inc., among others.
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