Waterjet Cutting Machines Market

Market Overview

The global waterjet cutting machines market size was valued at USD 966.7 million in 2022. It is estimated to reach USD 1,340.60 million by 2031, growing at a CAGR of 3.7% during the forecast period (2023–2031). Factors like metal matrix composite cutting and the rising demand from end-use industries affect the market’s expansion.

An industrial tool known as a water jet cutter, or a water jet or water jet, can cut a wide variety of materials using an extremely high-pressure jet of water or a mixture of water and an abrasive substance. Other names for this instrument include a water jet, water jet cutter, water jet, and water jet. Cutting soft materials like dense foams, components for automobile interiors and bodies, rubber, plastics, and cork is a common application for waterjets. Other examples include cutting cork.

Machines that use waterjets can cut every kind of metal, including hardened tool steel, aluminum, titanium, and other exotic metals that are notoriously difficult to cut with other kinds of tools or processes. When using a waterjet for cutting, you will have a clean edge free of any burn scars, cracks, or additional burrs. Cutting materials with a high-pressure water jet is referred to as "jet cutting," it is a procedure that may be used to cut several types of materials. Two distinct varieties of jet cutting are utilized, each determined by the type of material being cut.

Market Dynamics

Global Waterjet Cutting Machines Market Drivers

Metal Matrix Composites Cutting

A metal matrix composite comprises a metal matrix and a reinforcing agent, which may be filaments or particles. The metal's fundamental properties—such as stiffness, temperature resistance, strength, and conductivity—are improved by adding reinforcement. Furthermore, it makes these metals more applicable in various industry sectors. These materials are frequently utilized in brakes, earth-moving equipment, military tanks, armored panels, and other applications. This demonstrates that the metal is extremely inflexible and strong, making cutting such metal metric composites challenging.

While cutting metal matrix composites, other cutting tools, such as CNC shearing machines, quickly lose their sharpness. These rigid metals can be easily and quickly cut with waterjet cutting equipment, much like other materials and metals with lower strengths. The main cause is that the waterjet machines cut the metal matrix, and any leftover reinforcement is rinsed away. Metal matrix composites and other comparable materials are in high demand for waterjet cutting equipment because of this characteristic.

Rising Demand from End-Use Industries

The global population is rapidly increasing and driving the demand for various products. The electronics sector has experienced significant growth over the last two decades due to the introduction of newer products such as smartphones, tablets, flat TVs, smart stereo systems, and smart digital watches. The automotive sector has been in the transitional phase due to the growing environmental concerns due to vehicular emissions.

The aerospace industry advancements, including technologically advanced designed aircraft and lightweight materials, have proved to be a driving factor for the waterjet cutting machines market. The overall defense spending of countries has increased with the formation of a multipolar world and emerging superpowers such as China and India. This has increased Défense equipment manufacturing, driving the waterjet cutting machines market.

Global Waterjet Cutting Machines Market Restraint

Cost of Complimentary Components and Materials

Waterjet cutting machines cut material on the table with a pressurized water stream through a nozzle. The machine mixes garnets in pressurized water to erode metal and other difficult materials. Thus, the machine requires water and abrasives, a weakness that raises operating costs. Garnet costs over 50% of machine operations. Thus, operators or owners should purchase abrasive inventory along with in-work products. Abrasive disposal to landfills adds to transportation costs.

The cost of replacing orifices, usually sapphire or diamond, also limits market expansion. Each machine nozzle, usually two or four, needs an orifice replaced every 40 to 60 working hours. Operational expenses typically include orifice costs. Other replacement elements like the mixing chamber and pressure seals raise operational costs, making waterjet cutting machine operations costly and complicated. Continuous material replacement and inputs raise machine maintenance costs and time. These factors limit market growth.

Global Waterjet Cutting Machines Market Opportunities

High Demand for Mechanized Cutting from The Industrial Sector in Emerging Economies

In recent years, there has been a substantial increase in demand for waterjet cutters that are either mechanized or automated. This need has been driven mostly by the manufacturing industry. This is because mechanical waterjet cutters provide a higher level of accuracy than their manual counterparts. It is unnecessary to have an operator present for the entirety of the procedure when using mechanized waterjet cutting equipment.

Additionally, it helps reduce the amount of wasted material, provides a higher level of precision, and reduces the amount of time spent. Various industries, including fabrication and the automotive sector, demand precise cutting, drilling, and shaping, which is why a mechanized cutting machine is so commonly used. Due to the exceptionally high demand from the industrial sector, market participants can anticipate excellent chances for growth in the not-too-distant future.

Regional Analysis

Based on region, the global waterjet cutting machines market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant global waterjet cutting machines market shareholder and is estimated to exhibit a CAGR of 6.3% over the forecast period. Continued industrialization and rapid urbanization in the region are two of the most important factors propelling regional market expansion. The Chinese market for waterjet cutting machines is the greatest regional market in Asia-Pacific. Despite this, it is anticipated that the growth of the Chinese market will decelerate over the forecast period due to China's trade conflict with the United States and the appreciation of the national currency, resulting in a decline in exports.

However, the prevalence of a robust manufacturing base in China is expected to drive market expansion. India is also anticipated to emerge as a significant regional market in Asia-Pacific due to favorable government initiatives, such as the Make in India campaign, which permits 100 percent Foreign Direct Investment (FDI) and is anticipated to boost the country's metalworking industry during the forecast period.

Europe is anticipated to exhibit a CAGR of 4.0% over the forecast period. Due to the political unrest in some regions of the Middle East and the United States sanctions against the Russian Federation, the regional market in Europe is experiencing a significant decline in exports to important markets like the Middle East and Russia. Such elements are proving to be a significant barrier to the expansion of the local market. The regional market in Europe has experienced rapid technological advancement. It strongly emphasizes implementing cutting-edge manufacturing equipment, allowing waterjet-cutting vendors to expand. The primary contributing cause to the market's expansion has been replacing outdated machinery with newer, more effective machinery.

North America holds a significant market share. The United States-Mexico-Canada Agreement, or USMCA (United States-Mexico Canada Agreement), which is now being revised by North American nations, is anticipated to play a significant role in the growth of the automobile industry as well as other sectors that depend on the supply of steel and aluminum. The U.S. government has updated the NAFTA agreement to USCMA, which implies a 0% tariff for cars with 75% of their parts made in North America. Additionally, the U.S. government recently announced lifting the tariffs imposed on imports of steel and aluminum from Canada and Mexico, which will aid in expanding the market for cutting machines.

Despite having a small population, Canada's government's measures to promote immigration would boost the nation's metalworking industry over the projection period, consequently fueling growth.

Segmental Analysis

The global waterjet cutting machines market is bifurcated into type, product, application, and end-user.

Based on the type, the global market is bifurcated into pure and abrasive.

The abrasive segment dominates the global market and is projected to exhibit a CAGR of 4.5% over the forecast period. The abrasive waterjet cutting machine (AWCM) held a dominant position in the market, which is anticipated to be maintained during the duration of the projection. The increasing demand for accurate automotive performance parts and other cut-out materials, such as wings, turbines, gears, and brake types in the aerospace and defense, electronics, mining, textiles, food, and beverage industries is a major contributor to the expansion of this market.

In addition, the AWCM combines a stream of high-pressure water with abrasive particles such as garnet to speed up the cutting process. This is accomplished by quickly eroding materials such as metals, composites, and stones while maintaining high accuracy. As a result, abrasive waterjets are the tool of choice when cutting high-strength materials.

Based on product, the global waterjet cutting machines market is segmented into 3D, robotic, and micro waterjet cutting machines.

The robotic waterjet cutting machine segment dominates the global market and is predicted to exhibit a CAGR of 3.8% during the forecast period. It is projected that the robotic waterjet cutting machines will hold the highest share of the market during the period covered by the forecast. This is because these machines are becoming ever more affordable. The drilling, cutting, and cleaning procedures involved in various applications find a significant amount of use in robotic waterjets. One of the most typical uses is the cutting of holes in automobiles as well as the internal components. One more application is to round off the corners.

Based on application, the global market is bifurcated into foam product cutting, exotic metal, non-traditional material cutting, ceramic/stone cutting, glass/metal art, gasket cutting, and fiberglass cutting. 

The glass/metal art segment owns the highest waterjet cutting machines market share and is predicted to exhibit a CAGR of 4.7% over the forecast period. The market sector concerned with glass and metal art is projected to hold the largest market share throughout the period covered by the estimations. Several factors may be connected to the rising need for hurricane glass for car doors and windows in the automotive sector. These features are what is driving the demand for this particular market segment. One of these factors is that several potential causes may be associated with the rising demand. Additionally, the growing demand for foam equipment and machine component packaging in the aerospace industry is a factor that is contributing to the expansion of this market segment's overall demand.

The global waterjet cutting machines market is divided into automotive, electronics, aerospace and defense, mining, metal fabrication, and others based on end-users. 

The Automotive segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 4.9% over the forecast period. In addition to WCM, the technique of incorporating robotic systems into production lines is becoming a practice that is becoming increasingly prevalent; this is another aspect that is driving the increased demand in the automobile sector. One likely explanation for the ever-increasing need to create technologically complex and high-precision vehicle parts is that the challenges described at the beginning of this piece are one of the reasons why it is needed.

Recent Developments

• June 2021- A completely owned subsidiary of the CERATIZIT group, CERATIZIT USA, Inc., announced the purchase of a 100% ownership position in Best Carbide Cutting Tools, LLC. The business manufactures carbide round-cutting tools.
• May 2021- KMT Waterjet Systems, Inc. released the new KMT Waterjet Cut Calculator 2.0 App. With the addition of 25 new materials, the KMT Calculator now has a wider selection of substrate thicknesses, orifice sizes, horsepower, and abrasive rates.