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Study reveals largest end users of waterjet cutting machines through 2020
- September 14, 2016
- News Release
- Waterjet Cutting
According to a new market study released by London-based Technavio, the global waterjet cutting machine market is expected to grow at a CAGR of more than 8 percent through 2020.
Gaurav Mohindru, a lead analyst at Technavio for research on engineering tools, said, “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.”
“Global Waterjet Cutting Machine Market 2016-2020” categorizes the global waterjet cutting machine market end users into the following segments (2015 percentages):
Waterjet cutting machines are used in cutting, drilling, and surface cleaning of the metal sheets that are used in the fabrication of automotive parts. Until now the automotive industry has enjoyed relative stability in the postrecession period, which is reflected in the strong growth and profitability of the sector; the annual sales figures have even reached the prerecession levels in some regions. But some uncertainty still persists regarding the future, mainly due to the uneven nature of the global market.
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. It is expected that about 1,420 commercial aircraft will be manufactured in 2016, a growth of about 40 percent 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 percent when compared with 2015.
The overall metal fabrication industry is expected to grow from almost $68.76 billion to $94.52 billion during the forecast period, growing at a CAGR of 6.57 percent.
To request a sample report, visit www.technavio.com/request-a-sample?report=52735.
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