LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global waterjet cutting machine market is expected to grow at a CAGR of more than 8% during the forecast period.
This research report titled ‘Global Waterjet Cutting Machine Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Gaurav Mohindru, a lead analyst at Technavio for research on engineering tools, says, “The forecast period is likely to be a real game changer for the software associated with waterjet cutting machines. Though the software is used in the main cutting models, the trend is now shifting toward machine intelligence. For instance, OMAX has developed a new software Intelli-CAM that helps to generate 2D and 3D paths of the tools. This helps to create the tool path and attributes of 3D cutting before it is fed to the waterjet cutting machine.”
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Based on end-user, the report categorizes the global waterjet cutting machine market into the following segments:
- Metal fabrication shops
Global waterjet cutting machine market by end-user 2015 (%)
|Metal fabrication shops||16.38%|
The top three revenue generating end-user segments for the global waterjet cutting machine market are discussed below:
Global waterjet cutting machine by automotive sector
“The automotive sector has been responsible for many of the innovations in waterjet cutting machine technology, especially in high-power waterjet applications. One of the reasons is the very stringent norms with regard to the quality and reliability of the final product in the automotive sector,” says Gaurav.
Waterjet cutting machines are used in cutting, drilling, and surface cleaning of the metal sheets that are used in the fabrication of automotive parts. Till now, the automotive industry has enjoyed relative stability in the post-recession period, which is reflected in the strong growth and profitability of the sector; the annual sales figures have even reached the pre-recession levels in some regions. But some uncertainty still persists regarding the future, mainly due to the uneven nature of the global market.
Global waterjet cutting machine by aerospace sector
The plunge in crude oil prices was a boon to the aviation sector. Passenger traffic increased while capacity additions saw a parallel increase in 2014. Low crude oil prices and other enhanced efficiency measures resulted in airline companies making a net profit of USD 20 billion in 2014. The aircraft manufacturing sector also profited from the high performance, with the number of jets ordered in 2015 reaching 3,680. It is expected that about 1,420 commercial aircraft will be manufactured in 2016, a growth of about 40% from 2011. The increased demand is expected to boost the aircraft manufacturing sector, and production is expected to increase to about 1,617 aircraft in 2020, a growth of 15.7% when compared with 2015. Airbus and Boeing are the key players in the market, which have received the highest number of orders.
Global waterjet cutting machine by metal fabrication shops
Metal fabrication is the method of creating metal structures by cutting, bending, and assembling. Metal fabrication is a value-added process that encompasses the construction of machines and structures from various raw materials. Large fabrication shops employ a multitude of value-added processes in one facility, including welding, cutting, forming, and machining.
The overall metal fabrication industry is expected to grow from almost USD 68.76 billion to USD 94.52 billion during the forecast period, growing at a CAGR of 6.57%. The metal fabrication shops play a major role in every manufacturing segment. In the major developed countries, industries like automobile and heavy machinery manufacturers outsource their metal processing and part manufacturing work to separate players, which are classified under the metal fabrication sector.
The top vendors highlighted by Technavio’s research analysts in this report are:
- KMT Waterjet
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