Waterjet Cutting Machines Market to Grow 1.6X as End-use Industries look for Precision and Energy Efficiency, finds Fact.MR
Published : 26 Feb 2020 Industry: Industrial Goods
Stringent regulations in favor of eco-friendly industrial production is propelling the demand for waterjet cutting machines. The global waterjet cutting machines market is anticipated to grow 1.6X during the forecast period. Growth is attributable to cohesive manufacturing trends that lay emphasis on energy efficiency and increased precision in cutting processes. Another factor that impels demand for this product is the rising need for engaging form factors such as edges, bevels, holes, and shapes. Rising number of millennial consumers is augmenting the demand for products with attractive design features in order to stand-out from competition and spur sales. This translates into growing need of waterjet cutting machines for precision cutting of products to enhance their aesthetic appeal.
Key Takeaways of Waterjet Cutting Machine Market Study
- Abrasive waterjet cutting machines will grow 1.6X during the forecast period. This can be attributed to the increased manufacturing of products that employ hard materials such as metals, and minerals.
- Automotive segment will bolster demand for waterjet cutting machines on the back of increasing production of electric cars in early adopter regions.
- North America leads global sales of waterjet cutting machines with a major market share of more than 1/3rd of the total market value.
- Europe and East Asia collectively account for more than 34% of market share on the back of high demand from various end-use industries.
- Southeast Asia & Oceania presents remunerative growth opportunities with the most promising growth rate during the forecast period.
“Waterjet cutting machines will garner increased customer traction as a result of the growth in end-use industries. Market players stand a chance to gain sustained profits by leveraging the advancements in abrasive waterjet cutting and innovating its applications to cater to increasing customization needs of industries. After a thorough analysis of the global factors that influence the market, waterjet cutting machine manufacturers must focus their efforts in expanding footprint in developing economies.”-Says the Fact.MR Analyst
Start-up Ventures to Propagate Future Growth
Consumer related trends such as increasing preference of aesthetic appeal on top of additional functionalities will thrust the demand for waterjet cutting machines. Product factors such as energy efficiency and cutting precision will play a pivotal role in mass-adoption across industries. Major players in the market are focusing their effort in footprint expansion, product innovation, and forging strategic partnerships. Start-ups all around the world rely on aesthetic appeal to differentiate their products. Waterjet cutting machines enable such ventures by providing precision cutting and cost efficiency. Manufacturers must leverage this trend to garner gainful growth opportunities.
Find More Valuable Insights on Waterjet Cutting Machine Market
Fact.MR, in its new offering, provides an in-depth analysis of the global waterjet cutting machine market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the waterjet cutting machine market on the basis of product type (pure and abrasive), application (automotive, electronics, aerospace & defense, mining, metal fabrication, and others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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About the Industrial Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. For more industrial goods domain expertise, visit here.