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Injection Molding Machine Market Growing Demands: Asia Pacific Accounted for 41.8% Market Share

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The growing demand for lightweight and complex components in the automotive and electronics industry is projected to increase industry growth over the years.

The COVID-19 pandemic has caused unprecedented supply chain disruptions resulting in heavy losses for the market. However, the demand for PPE and medical equipment has created an upsurge for injection molding machines and has accelerated the use of automation with a focus on shortening production cycle time and increasing productivity.

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The demand for electric injection molding machines is rising due to factors such as higher suitability to cleanrooms and reduced downtime. With companies focusing on environment-friendly manufacturing, the demand for electric injection molding machines that increase energy savings is anticipated to grow during the forecast period.

The global Injection Molding Machine market size is expected to be worth around US$ 25.0 billion by 2030, according to a new report by Vision Research Reports.

The global Injection Molding Machine market size was valued at US$ 15.2 billion in 2020 and is anticipated to grow at a CAGR of 5.5% during forecast period 2021 to 2030.

In this study, the years considered to estimate the market size of Injection Molding Machine are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

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By Material Type Analysis

The plastic injection molding machine segment led the market and accounted for 76.4% of the global revenue share in 2020. The strong shift from metal parts towards plastic components in the automotive industry is anticipated to spur the growth of the market over the forecast period.

Plastic molded parts provide a solution for high-volume and cost-efficiency. The recent trend of light-weighting in the automotive industry to enhance fuel-efficiency has resulted in increased use of plastic molded parts, coupled with rising demand for plastic molded components in medical device manufacturing.

The metal injection molding machine segment is estimated to witness a CAGR of 4.2% from 2021 to 2030, in terms of revenue. Factors such as superior surface finish, high resistance to corrosion, and ability to manufacture parts with complex geometries have resulted in increased demand for metal molded products.

By Technology Analysis 

The hydraulic injection molding machine led the market and accounted for 45.2% of the global revenue share in 2020. Factors such as the ability to work under and maintain high-pressure, high-power density, and wide use in automotive, marine, and aerospace industries where heavy force is required are expected to augment market growth.

Electric injection molding machines are highly efficient, which require less start-up time and run-time as compared to hydraulic injection molding machines.

A hybrid injection molding machine combines the best of both hydraulic and electric injection molding machines. Hybrid injection molding machine provides high clamping force of hydraulic machine and high precision, energy efficiency, reduced noise, and repeatability of the electric injection molding machine, resulting in a better performance for both thick- and thin-walled parts.

By End-use Analysis

The automotive end-use segment led the market and accounted for over 29.2% of the global revenue share in 2020 on account of the factors such as repeatability, material compatibility, fast prototypes with rapid tooling, and high precision and surface finish.

The advent of electric vehicles worldwide can also be seen as an opportunity for injection molding machine manufacturers. Electric drive trains, braking, and clutching system have parts such as gears, seals, magnets that are manufactured using injection molding.

The manufacturing of smartphones, tablets, laptops, connectors, sensors and various other electronic components require injection molding. These parts require high levels of accuracy and quality which injection molding machines can deliver, making it the fastest-growing end-use segment with a CAGR of 5.1% during the forecast period.

The growing electronics industry in China, South Korea, and Taiwan with the presence of technology-driven companies is expected to play a key role in the growth of the injection molding machines market.

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By Regional Analysis

Asia Pacific led the market and accounted for 41.8% of the global revenue share in 2020. Increasing investments in packaging and electronics, coupled with a strong consumer base in countries such as China, Japan, and India, are expected to play a crucial role in triggering the demand for injection molding machines over the forecast period.

The European injection molding machine industry plays a crucial role in the overall injection molding machine market. Germany, Italy, France, and Spain are notable countries in the European region contributing significantly to the European injection molding machine market.

France is expected to be one of the fastest-growing economies in the market. Rising research initiatives, technological advancements, and growing demand for packaging and automotive industries are likely to attract new players to tap opportunities in the country, augmenting the demand for injection molding machines.

Key Players

  • Arburg GmbH + Co KG
  • Haitian International Holdings Limited
  • Milacron
  • Nissei Plastic Industrial Co., Limited
  • Engel Austria GmbH
  • Sumitomo (SHI) Demag Plastics Machinery GmbH
  • Chen Hsong Holdings Limited
  • Toyo Machinery & Metal Co., Ltd.
  • Husky Injection Molding Systems Ltd
  • Japan Steel Works Limited
  • KraussMaffei Group
  • UBE Machinery
  • Toshiba Machine Co., Ltd.
  • Wittmann Battenfeld
  • Hillenbrand, INC.

Market Segmentation

  • By Material
    • Plastics
    • Metals
    • Others
  • By Technology
    • Hydraulic
    • Electric
    • Hybrid
  • By End-use
    • Automotive
    • Consumer Goods
    • Packaging
    • Electronics
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • Denmark
      • Austria
    • Asia Pacific
      • China
      • India
      • Japan
      • Taiwan
      • South Korea
    • Central & South America
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • UAE

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Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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