Increased Automation across Multiple Industries
In order to save time, cost & labor, various tend to automate various tasks of their production and process. The utilization of automation and necessary resources to conduct these tasks result in minimal manual error caused during these tasks. This improves the quality, efficiency and overall turnaround time while minimizing the surface defects and thermal losses. Rising demand for automation and robotics work is expected to propel the growth of Waterjet cutting machines market around the world.
Minimal Surface Defects
Waterjet machines exhibit a high degree of reliability and efficiency while performing their cutting operations. As compared to electrical equipment, these machines produce less thermal and mechanical stress. These machines are more cost effective in comparison with electrical discharge machines. Also, as waterjet machines do not result in the creation of heat affected zones that could potentially result in metallurgical defects over the surface of material, the demand for waterjet machines is expected to increase in the future. Additionally, improved design of these machines is anticipated to propel the growth of waterjet cutting machines market.
Growing Automobile Sector
Digitalization and globalization has revolutionized the automobile sector. Latest technologies have influenced the design of vehicles parts. Additionally, as a result of various technical advancement, engine performance has been enhanced. Increasing technical advancement and innovation is showing potential to propel waterjet cutting machines market globally.
High Cost of Waterjet Machines
Waterjet machines require high initial cost for setup. Regular maintenance also result in increased operational cost. Additionally, availability of additional resources such as water is a major concern while setting up these machines as they require high water jet speed for cutting operations. Water availability and high cost of initial set-up of these machines are some of the key factors restraining the growth of waterjet machines market across the globe.
The Waterjet cutting machines market is anticipated to record a CAGR of 9.2% over the forecast period. The market is segmented by type of technology into pure waterjet cutting technology and abrasive waterjet cutting technology; by pump into direct derive pump and intensifier pump; by end use industry into automotive, defense and aerospace, metal fabrication shops, electronics, textile and others and by region. Automobile sector is anticipated to capture the largest share in the waterjet cutting machines market on account of increasing adoption of automation of various tasks.
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Our-in depth analysis of the data center service market includes the following segments:
By Type of Technology
By End Use Industry
On the basis of regional analysis, the waterjet cutting machines market is segmented into five major regions, North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America market is anticipated to capture the largest market share in the waterjet cutting machines market owing to heavy demand from core end users and ample opportunities on account of expansion of manufacturing processes. With growing demand for automation, the market of North America is expected to observe a substantial growth. The highly developed automotive sector, Europe is expected to generate a significant demand for waterjet cutting machines over the forecast period (2019-2027). The market of Asia pacific is expected to show significant growth after North America owing to rapid development of industrial sector and advancements in manufacturing processes.
The Data center service market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.