Abrasive Waterjet Cutting Machine Market 2023 Business Strategic Analysis to Boost Global Potential Growth by 2030
Abrasive Waterjet Cutting Machine Market Industry Analysis:
The global Abrasive Waterjet Cutting Machine Market Industry size will grow at an 8.5% CAGR between 2022- 2030, states the recent Market Research Future (MRFR) analysis. The abrasive waterjet cutting machine, simply put, is a machine that is used to precisely and accurately cut metal parts in the manufacturing industry. Owing to its alluring features, it has wide applications in foam product cutting, fiberglass cutting, gasket cutting, ceramic/stone cutting, glass/metal art, and exotic metal and non-traditional material cuttings.
Various factors are propelling the global abrasive waterjet cutting machine market industry growth. According to the recent MRFR report, such factors include the global demand and sale of cars, demand for steel and other metals in different end-use industries such as automotive and construction, growing manufacturing sector, increasing use of automation, broad scope in emerging economies, growing automatic machine operations, and technological advances.
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Key Players
Prominent players profiled in the global abrasive waterjet cutting machine market industry report include DARDI International Corporation (China), Waterjet Sweden AB (Sweden), AUTOPRO-UP Co., Ltd. (South Korea), Semyx (US), Koike Aronson (Japan), Hornet Cutting Systems (US), KMT Waterjet (US), Omax Corporation (US), Flow International (US), Lincoln Electric Company (US), and Colfax Corporation (US).
Market Segmentation
By type, the global abrasive waterjet cutting machine market industry is segmented into robotic waterjet cutting machines, micro waterjet cutting machines, and 3D waterjet cutting machines. Of these, the 3D waterjet cutting machines segment will lead the market over the forecast period.
By application, the global abrasive waterjet cutting machine market industry is segmented into foam product cutting, fiberglass cutting, gasket cutting, ceramic/stone cutting, glass/metal art, and exotic metal and non-traditional material cutting. Of these, the glass/metal art application will dominate the market over the forecast period.
By industry, the global abrasive waterjet cutting machine market industry is segmented into medical device, machine manufacturing, textile, food processing, aerospace, automotive, and metal fabrication. Of these, the automotive segment will spearhead the market over the forecast period for the booming automotive component industry and demand for vehicle gaskets.
Regional Analysis
By region, the global abrasive waterjet cutting machine market industry covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, Asia Pacific will have the lions share in the market over the forecast period. Rapidly growing construction and automotive industry, strong economic growth in Japan, India, and China, rising production of automotive parts and industrial parts, increasing government initiatives, China being the most preferred hub for manufacturing are adding to the global abrasive waterjet cutting machine market industry growth over the forecast period.
In Europe, the global abrasive waterjet cutting machine market industry share is predicted to hold the second-largest share over the forecast period. Rising R&D, growing automotive industry, and adoption of advanced technology are adding to the global abrasive waterjet cutting machine market industry growth in the region.
In North America, the global abrasive waterjet cutting machine market industry trends is predicted to have healthy growth over the forecast period. Growing investments in glass industries, furniture, metal cutting, automotive, aviation, presence of key players, investments in developing advanced abrasive waterjet cutting machines, and developing end-use industries, a growing number of infrastructure development and construction projects are adding to the global abrasive waterjet cutting machine market industry growth in the region.
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In the MEA, the global abrasive waterjet cutting machine market industry is predicted to have sound growth over the forecast period for the growth in production across different end-use industries like automotive, industrial, and construction.
In South America, the global abrasive waterjet cutting machine market industry is predicted to have notable growth over the forecast period. Rise in building construction, machinery production industry, and automobiles, government initiatives in Brazil and Argentina, and rapid development in the automotive industry are adding to the global abrasive waterjet cutting machine market industry growth in the region.
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