Waterjet cutting machines market to reach $2.7 billion by 2024

New York-based Persistence Market Research Persistence Market Research has released the report titled "Global Market Study on Waterjet Cutting Machines: North America Estimated to Hold the Highest Market Share during the Forecast Period," which projects that toward the end of 2024, the value of global waterjet cutting machine market is likely to double, increasing from $1.37 billion in 2016 to $2.7 billion.

During this forecast period, the global market for waterjet cutting machines will exhibit a value CAGR of 8.9 percent. In 2016 the global sales of waterjet cutting machines surpassed 13,600 units. By the end of 2024, global sales are expected to be 25,872 units.

The report also reveals that North America will be the largest market for waterjet cutting machines. With more than 35 percent share in global revenues, North America's waterjet cutting machine market will dominate the global market throughout the forecast period. With more than 15 percent share in global waterjet cutting machine market value, Europe also is expected to be at the forefront of market expansion.

While market share in these two regions is expected to dip marginally toward the end of the forecast period, the market in the Asia-Pacific region will have the fastest revenue growth, at 10 percent CAGR.

Intensifier pumps are expected to be top-selling products in the global waterjet cutting machine market, likely reaching revenue growth of 8.9 percent CAGR during the assessment period. In 2017 and beyond, a little more than 55 percent of the market's revenues will come from use of waterjets for 2-D cutting. In 2016 more than 6,500 waterjet cutting machines were sold worldwide for 2-D cutting applications.

Metal fabrication and automotive are expected to be the largest end-user industries for waterjet cutting machines, with revenue CAGRs of more than 9 percent.

For a sample of the report, visit www.persistencemarketresearch.com/samples/12139.