New York, NY -- (SBWIRE) -- 12/12/2017 -- Considering the fact that cutting will remain a crucial operation across various industrial verticals, companies are compelled to adopt the most efficient machines that will serve this purpose. Waterjet cutting machines are likely to be at the top of this list, and are widely used for cutting wide range of materials without the use of abrasives. Persistence Market Research projects that towards the end of 2024, the value of global waterjet cutting machine market is likely to get doubled, reflecting a raise from US$ 1.37 Bn in 2016 to US$ 2.7 Bn.
During this forecast period, the global market for waterjet cutting machines will exhibit a value CAGR of 8.9%. According to Persistence Market Research's report, titled "Waterjet Cutting Machine Market: Global Industry Analysis and Forecast, 2016-2024," the global waterjet cutting machine market will also witness sizeable growth in terms of sales. In 2016, the global sales of waterjet cutting machines surpassed 13,600 units. By the end of 2024, the global market for waterjet cutting machine is anticipated to record sales of 25,872 units, registering a volume CAGR of 8.3%.
The report also reveals that North America will be the largest market for waterjet cutting machines. With more than 35% share in global revenues, North America's waterjet cutting machine marketwill dominate the global market throughout the forecast period. US-based companies such as WARDJet, International Waterjet Machines, OMAX Corporation, Semyx, LLC, Plasma Automation Inc. (VICON), Hypertherm Inc. (Accustream), Hornet Cutting Systems, Koike Aronson, Inc., KMT Waterjet, and Jet Edge, Inc. are profiled among the market's key players in the report.
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With over 15% share in global waterjet cutting machine market value, Europe is also expected to be at the forefront of market expansion. Caretta Technology s.r.l., TrennTek GmbH, CMS Industries, Water Jet Sweden, Metronics Technologies S.L., PTV, spol. s r.o., and STM Stein-Moser GmbH are European companies actively participating in the growth of global waterjet cutting machine market. However, North America and Europe's presence in the global waterjet cutting machine market will witness marginal dip towards the end of the forecast period. Meanwhile, the waterjet cutting machine market in Asia-Pacific (APAC) region will record fastest revenue growth at 10% CAGR. The report has also assessed that waterjet cutting machines are available at the lowest price across the APAC countries. This is certainly expected to boost the sales for companies such as Sugino Machine Limited, DARDI International Corporation, Foshan Yongshengda Machinery Co., Ltd., TECHNI Waterjet, and A Innovative International Ltd., which are also major contributors to the market's overall growth.
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The global waterjet cutting machine market is also anticipated to witness rampant sales of intensifier pumps. Since intensifier pumps will be observed as top-selling products in the global waterjet cutting machine market, they are likely to showcase revenue growth at 8.9% CAGR during the assessment period. In 2017 and beyond, a little over 55% of the market's revenues will be accounted by application of waterjet cutting machines in two-dimensional cutting. In 2016, more than 6,500 waterjet cutting machines were sold across the world for 2D cutting applications. Likewise, over 70% of waterjet cutting machine sales will be attributed by high demand for machines with a pressure range of up to 4200 Bar. Metal fabrication and automotive are expected to be recognized as largest end-user industries for waterjet cutting machines. Revenues arising from these two end-users are predicted to showcase CAGRs of 9% and above.
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