Waterjet Cutting Machinery Market to Perceive Substantial Growth by 2027 end, Says TMR
Transparency Market Research (TMR) predicts that the global waterjet cutting machinery market would expand at a CAGR of 7.1% over the period 2019 and 2027. Furthermore, the total value of the market is projected to touch 1,718.5 Mn by the end of 2027. Basic industrial functions have also come under the ambit of the functional waterjet cutting machinery
The key strengths of waterjet cutting technology are versatility and environmental friendliness. Water which is abundantly available is the key raw material of waterjet technology and hence no other raw material cost is involved. In terms of environmental friendliness, the technology is a cold cutting process and environment friendly unlike laser cutting or plasma cutting. The versatility of cutting any soft or hard material is the key strength of waterjet cutting machines. The technology of this machine includes the cold cutting process and environmental friendly unlike laser or plasma cutting.
Soft materials such as wood and rubber can collapse under high-temperature environments. Research scientists suggest the use of high-pressure technologies to break through such brittle materials. Moreover, pressure-based technologies have proved more effective in shaping of objects as against other methods. Therefore, the global waterjet cutting machinery market is set to attract massive revenues in the years to follow.
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Waterjet cutting technique is better than other metal cutting techniques such as laser cutting, plasma cutting among other, as waterjet cutting technique can be used to cut a variety of metals, is environmental friendly, can cut more thicker metals compared to other metal cutting techniques, etc. In waterjet cutting techniques, the cut metal is not thermally deformed as no heat is used in the cutting process
Rising manufacturing activity across the globe
Automation of manufacturing activities has created fourth industrial revolution (4IR) and Industry 4.0 is the new name given to current trend in industrial automation. China which is known as the factory of the world, is increasing using automation technologies to increase its industrial output.
High precision of waterjet cutting machines which very low environmental concerns
Waterjet cutting technology is a cold cutting process and does not create any HAZ so no thermal deformation of materials that are cut and are environmental friendly. These machines can perform minute cutting jobs with a high level of precision and minimum kerf. A kerf is defined as width of a cut made by a waterjet cutting machine. These machines are environmental friendly as they cut materials without producing any heat, dust or smoke like other cutting technologies such as laser cutting or plasma cutting. Water a naturally found material, so no additional cost in sourcing of raw materials. Due to all these factors, globally there is an increasing demand for waterjet cutting machines
The review is based on TMR’s report titled, “Waterjet Cutting Machinery Market Size, Share, Trends, Growth, Export Value, Shipment, Volume and Trade, Sales, Pricing Forecast”.
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Growing Popularity of Eco-Friendly Machines to Boost the Growth Prospects of the Waterjet Cutting Machine Market
The waterjet cutting machine market is prognosticated to expand at a good growth rate across the assessment period of 2019-2027. The rising inclination toward the use of eco-friendly cutting products will serve as a good growth factor for the waterjet cutting machine market. Technological advancements are also playing a crucial role in the growth of the waterjet cutting machine market.
A waterjet cutting machine is prominently used in production units and manufacturing facilities for cutting various materials with the help of high-pressure water jets. These machines are usually used for products that are sensitive to high temperatures. Thus, the increasing usage of waterjet cutting machines in industries like electronics, metal fabrication, mining, automotive, defense, and others will bring exponential growth prospects during the forecast period.
These machines do not require any gases and do not release any harmful materials during the cutting process. This factor makes them highly popular among a large number of end-users. The ongoing research and development activities by the players in the waterjet cutting machine market are leading to novel product launches that are more convenient and beneficial to the end-user. The evolution of 3D cutting capabilities and the introduction of robotic cutting may bring immense growth prospects for the waterjet cutting machine market.
The COVID-19 pandemic has changed the growth trajectories of a large number of industries and sectors. The waterjet cutting machine market is no exception. The growing prevalence of the virus forced many regions to impose strict lockdowns which led to the closure of factories and production facilities. These factors had a grave impact on the growth of the waterjet cutting machine market.
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However, the relaxations in the restrictions are serving as a boon for the players in the waterjet cutting machine market but the dangers of lockdown remain as the second wave of COVID-19 is hitting hard across numerous countries.
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