Waterjet Cutting Machine Consumables Market 2022
Global waterjet cutting machine consumable sales are set to be valued at over US$ 1.8 Bn in 2021, with stable long-term projections, according to latest insights by Persistence Market Research. The report estimates the market to expand at 4.8% CAGR from 2021 to 2031. Growing prominence for waterjet cutting machines has led to heightened demand for waterjet cutting machine consumables. Rapid technological advancements are also projected to complement market growth over the coming years. Demand for waterjet cutting machine consumables waned in 2020 due to the COVID-19 pandemic. However, the market is in a recovery mode, which bodes well for the sales of these consumables in future. Considering the possibility of a stimulus in many countries, long-term outlook on the market remains positive.
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With flexible production being in demand, autonomous handling systems and robots are expected to adapt to changing requirements faster. Besides, those moving around with “domain+” skills would be on the top of the recruiters’ agenda.
Augmented reality solutions are being asked for IoT functionality is capable of tracking and evaluating production quotas, expanding control rooms, and creating various models related to predictive maintenance. Industry 4.0 workforce would, indeed, be complementing robotics. Persistence Market Research is endowed with expertise herein in the form of consultants and analysts.
Key Takeaways from Market Study
- Demand for waterjet cutting machine consumables is increasing with rise in production and sales volumes across end-use industries due to increase in investments and expansion of new industries in developing nations.
- Due to the need for mass production, process automation has become a strong trend in the waterjet cutting machine consumables market. The market is shifting toward Industry 4.0 norms, leading to promotion and almost universal adoption of new technologies.
- There is increasing demand from metal fabrication and automotive industries for deployment of modern equipment in various applications.
- Increasing number of players focusing on R&D related to waterjet cutting machine consumables is anticipated to have a significant effect on market growth over the years to come.
- Abrasive waterjet cutting machine consumables to hold over 56% market share.
- Demand for waterjet cutting machine consumables witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -5%.
- The market in India and China is set to surge at around 6% and 5% CAGRs, respectively, over the next ten years.
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Competitive Landscape
The market is moderately consolidated, with key players accounting for more than half of the market share. Prominent market players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in this industry are Kennametal Inc., Flow International Corporation, OMAX Corporation, CERATIZIT S.A., GMA Garnet Pty. Ltd., Wardjet Inc., Hypertherm Inc., TECHNI Waterjet, Jet Edge, Inc., KMT Waterjet, ALLFI AG, Opta Minerals Inc., Kimblad Technology AB, H2O Jet, Oskar Moser Technische Edelsteine GmbH, Diamond Technology Innovations, Inc., WSI Waterjet System International, Barton International Inc., and Hammelmann.
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