Apr 2 2020
Prominent players in the waterjet cutting machines market are focusing on expanding their global footprint, new product innovation, and maintaining strategic partnerships to sustain the positive growth trajectory.
On the back of their efficiency and the precision, waterjet cutting machines are gaining traction among various applications spanning across small and medium scale industries in automotive, mining, electronics, and aerospace verticals.
A new study by Fact.MR, which provides a detailed analysis of the global waterjet cutting machines market, projects the growth at a steady CAGR of 5%. The market is further expected to receive momentum from the increasing income levels and consumer spending in the emerging economies.
Waterjet Cutting Machines - Key Takeaways
- Owing to the increasing production of electric cars, the automotive segment is expected to boost the demand for waterjet cutting machines, and will account for more than 1/4th of market share during the forecast period.
- Abrasive type waterjet cutting machines to continue dominance with a stupendous share of 85% in market value
- North America will remain the most lucrative market for manufacturers in the waterjet cutting machines market with more than 1/3rd of global market value.
- On the back of rising demand from various regional end-use industries, Europe and East Asia will collectively account for 1/3rd of global market share, with the latter being the second most lucrative region.
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Waterjet Cutting Machines - Key Driving Factors
- Investments by governments across the globe are soaring for renewal and upgradation of defense utilities such as vehicles, aircraft, and military devices, thereby boosting the market for waterjet cutting machines.
- The adoption of energy-efficient and precision cutting tools in developing nations is propelling demand for tools such as waterjet cutting machines.
Waterjet Cutting Machines - Restraints
- Facets such as high energy consumption, sensitivity to environmental conditions, high cost of ownership, and laborious maintenance, could potentially challenge the sales.
Explore the complete waterjet cutting machines market report with detailed market segmentation, 271 illustrative figures, and 130 data tables at – https://www.factmr.com/report/4564/waterjet-cutting-machine-market
About the Report
This 170-page study offers readers a comprehensive market forecast of the global waterjet cutting machines market with historical demand data (2014-2018) and forecast statistics 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).
Source: https://www.globenewswire.com/news-release/2020/03/30/2008433/0/en/Demand-for-Waterjet-Cutting-Machines-Majorly-Upheld-by-Automotive-and-Mining-Propelling-Abrasive-Machines-to-Reign-Supremacy-Says-Fact-MR.html