Waterjet Cutting Machine Market Trends

Growth Drivers

• Rising Need to Reduce Food Wastage– Globally, around 1.3 billion of food is wasted every year, which accounts for one-third of the total produce. Owing to higher food wastage the need for waterjet cutting becomes important since it allows for precise cuts and portioning thus preventing the wastage of food.
• Rise in the Number of Wind Energy Projects– In 2021, global offshore wind installations reached a new high of 17,398 MW, bringing the total capacity currently operational to 50,623 MW. A waterjet cutting machine is used for the manufacturing of wind turbines, which are made up of carbon fiber tape or fiberglass.
• Rising Investment in Defense Sector- In 2021, total worldwide military spending grew by 0.7% in real terms to USD 2113 billion. Higher investment leads to the production of better defense equipment, waterjet is used in prototyping the equipment and makes necessary personalization.

Challenges

• High Operational Costs- On the top of upfront cost of the waterjet cutting machine, the operation cost of the equipment is also very high. The operational costs include consumables such as maintenance, and energy consumption. Moreover, the operational cost is an ongoing cost and adds up over time.
• Instances of Downtime
• Hard to achieve accuracy