The Europe Waterjet Cutting Machine Market would witness market growth of 5.7% CAGR during the forecast period (2021-2027).
A Waterjet cutter is a machine that uses a high-pressure stream of water to erode a narrow line within a piece of material. It is made up of three main components. A granular abrasive is added to the Waterjet depending on the density and composition of the material, such as titanium, to boost the cutting power. The abrasive is introduced at the nozzle, allowing for a quick switch between water and abrasive cutting. One of the primary reasons driving market expansion is the growing interest in adopting environmentally friendly cutting techniques and practices in industries such as automotive, mining, electronics, construction, packaging, and textile over the forecast period.
The European region has made a substantial contribution to the WCM industry. The region's primary driving forces are the growing technological advancements and expanding the use of energy-efficient technologies. In addition, the rise in industrial automation has led to increase in the consumption of steel, and growth in the usage of indexed steel during construction and is contributing to the regional market growth.
Europe is supporting various technologies in all the industries across all the countries in this region. These technologies aim at higher utilization of the internet to enhance quality and cost-effectiveness in providing accuracy in cutting and shaping various materials. Moreover, in these developing countries, the industrial sector is flourishing.
In addition, the developing steel industries, as well as infrastructural development in these developing regions, are the major factors boosting the growth of Waterjet cutting machine market. The rise in demand for eco-friendly cutting products in packaging, textile, electronic, construction, automotive sectors is also pushing the growth of the Waterjet cutting machine market.
The Germany market dominated the Europe Metal Fabrication Waterjet Cutting Machine Market by Country 2020, thereby, achieving a market value of $23.4 million by 2027. The UK market is showcasing a CAGR of 4.1% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 5.7% during (2021 - 2027).
Based on Type, the market is segmented into Abrasive and Pure. Based on Application, the market is segmented into Automotive, Metal Fabrication, Electronics, Mining, Aerospace & Defense and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Waterjet Cutting Machine Market Size will Hit $1.5 Billion by 2027, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Colfax Corporation, Lincoln Electric Holdings, Inc., Omax Corporation (Hypertherm), Flow International (Shape Technologies Group Company), Koike Aronson, Inc. (Koike Sanso Kogyo Co., ltd.), WARDJet (AXYZ Automation Group), TECHNI Waterjet (GMM S.p.A), Hornet Cutting Systems, Water Jet Sweden (Vega Ronneby AB) and Semyx Cutting Solutions.
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