March 14, 2024 09:30 ET | Source: Straits Research Private Limited Straits Research Private Limited
New York, United States, March 14, 2024 (GLOBE NEWSWIRE) -- An industrial tool known as a water jet cutter, water jet, or water jet can cut various materials using a high-pressure or water-abrasive mixture. This instrument is also known as a water jet, water jet cutter, water jet, and water jet. Waterjets are frequently used to cut flexible materials such as dense foams, components for automobile interiors and bodies, rubber, plastics, and cork. Other examples include cork removal. Waterjet-equipped machines can cut any metal, including reinforced tool steel, aluminum, titanium, and other exotic metals that are difficult to cut with other tools or processes. Plasma Cutting Machine Tools
When utilizing a waterjet for cutting, the resulting edge will be free of burn scars, fractures, and other burrs. The process of cutting materials with a high-pressure water turbine is known as "jet cutting," it can be used to cut various materials. There are two distinct types of jet cutting, each determined by the material being sliced.
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Metal Matrix Composites Cutting Drives the Global Market
A metal matrix composite comprises a metal matrix and reinforcing filaments or particulates. Reinforcement improves the metal's fundamental properties, such as rigidity, temperature resistance, strength, and conductivity. Additionally, it makes these metals more applicable in a variety of industries. Common applications for these materials include brakes, earth-moving equipment, military tanks, and armored panels. This demonstrates that the metal is extremely rigid and robust, making it difficult to cut such metal composites.
Other cutting instruments, such as CNC shearing machines, rapidly lose their sharpness when cutting metal matrix composites. Like other materials and metals with lower strengths, these rigid metals can be easily and swiftly cut with waterjet cutting equipment. The primary cause is that the waterjet machines only cut the metal matrix, rinsing away any remaining reinforcement.
High Demand for Mechanized Cutting from the Industrial Sector in Emerging Economies Creates Tremendous Opportunities
According to Straits Research, “The global waterjet cutting machines market 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).” Demand for mechanized or automated waterjet cutters has increased significantly in recent years. This demand is primarily the result of the manufacturing industry. This is because mechanical waterjet cutters are more accurate than their manual counterparts. When utilizing mechanized waterjet cutting equipment, it is not necessary to have an operator present throughout the entire procedure.
In addition, it aids in minimizing material waste, increases precision, and shortens production time. Numerous industries, such as the fabrication and automotive sectors, require precise cutting, piercing, and forming, which is why mechanized cutting machines are so prevalent. In the not-too-distant future, market participants can anticipate outstanding growth prospects due to the exceptionally high demand from the industrial sector.
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. The Asia-Pacific region has become the largest market for waterjet cutting machines and is expected to maintain its dominance throughout 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.
The key players in the global waterjet cutting machines market are Koninklijke Philips N.V., Medtronic, Natus Medical Incorporated, 3M, Ambu, Cognionics, Inc., Rhythmlink International, LLC, Leonhard Lang GmbH (Acquired by DCC PLC.), CONMED Corporation, and Compumedics Limited.
Global Waterjet Cutting Machines Market: Segmentation
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