The global injection molding machine market is expected to
Newark, NJ, June 24, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the Global Injection Molding Machine Market is expected to increase from USD 19.234 billion in 2020 and reach USD 28.634 billion by 2028, with a CAGR of 5.1% during the forecast period 2021-2028.
The injection molding machine market has experienced significant growth in recent years. This growth is attributed to greater technological advancements in reducing production costs and waste, thereby shortening production cycle times, which is expected to drive the market growth. Injection molding machines are used to produce various auto parts such as bumpers, electrical boxes, exterior body panels and dashboards. Increased R&D spending has led to the development of new technologies such as advanced hydraulic systems for large parts, electrical systems for digitally processing the characteristics of complex and small components, and hybrid systems that can operate for small quantities.
Injection molding machine is considered a manufacturing process that allows you to produce parts in large volumes. It works by injecting molten material into a mold. It is generally used as a mass production process to create thousands of identical items. Injection molding materials include metals, glasses, elastomers, and packaging, although they are most often used with thermoplastic and thermosetting polymers. It is mainly used in mass production processes where the exact quantity is created thousands or millions of times in a row. Injection molding can be performed with many materials, including metals, glasses, elastomers, packaging and most often thermoplastic and thermosetting polymers.
The global injection molding machine market is expected to experience significant growth, owing to the increasing demand for reliable and low-cost products, the adoption of advanced automated machines, the growing adoption of packaged and packaged products, increasing globalization and increasing demand for these machines in developing countries. Factors holding back the growth of the market are the shrinking workforce in the manufacturing sector and the COVID-19 pandemic has led automakers to stop producing new products due to weak consumer demand, which influences the growth of this market. Advanced information and communication technologies and the Internet of Things will provide opportunities for market growth.
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The major players operating in the global injection molding machine market are Japan Steel Works Ltd., Sumitomo Heavy Industries Ltd., Arburg GmbH + Co KG, NISSEI AMERICA, INC, Husky injection Molding Systems Ltd., Engel Austria GmbH, Ved Machinery , ELECTRONICA PLASTIC MACHINES LTD. . To gain significant market share in the global injection molding machine market, major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
- For example, in May 2020, Haitian International launched a new 116,000 square foot facility in Moncks Corner, United States. This launch strengthened the company’s position around the world.
Plastic segment dominated the market and held the largest market share of 79% in 2020
On the basis of product type, the global injection molding machine market is segmented into metal, plastic, ceramic, rubber. The plastics segment dominated the market and held the largest market share of 79% in 2020. This growth is attributed to the growing growing demand in the industry of handling and packaging of automotive materials, raw materials for plastic products by developing countries.
Hydraulic segment dominated the market and held the largest market share of 47% in 2020
On the basis of machine type, the global injection molding machine market is segmented into electric, hydraulic, hybrid. The hydraulic segment dominated the market and held the largest market share of 47% in 2020. This growth is attributed to the increasing adoption of safe and convenient machines.
0-200 tons segment dominated the market and held the largest market share of 37% in 2020
On the basis of clamping force, the global injection molding machine market is segmented into 0-200 tons, 201-500 tons, above 500 tons. The 0-200 ton segment dominated the market and held the largest market share of 37% in 2020. This growth is attributed to the increasing increase in the number of mid-sized manufacturing companies.
Packaging segment dominated the market and held the largest market share of 32% in 2020
On the basis of end-use industry, the global injection molding machine market is segmented into packaging, automotive, electronics and telecommunications, healthcare, infrastructure. The packaging segment dominated the market and held the largest market share of 32% in 2020. This growth is attributed to the increasing adoption of plastic boxes in the packaging industries.
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Regional Segment of Injection Molding Machine Market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global injection molding machine market is classified into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The Asia-Pacific region held the largest market share in 2020. This growth in the Asia-Pacific region was due to the presence of registered and unrecorded comparisons producing a wide variety of machinery and equipment in the country. The market in North America is expected to experience significant growth, due to the presence of established machine manufacturers in the country.
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About the report:
Global Injection Molding Machine Market is analyzed on the basis of value (USD Billion). All segments were analyzed on a global, regional and national basis. The study includes analysis of over 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges to get the key insights of the market. The study includes the model of the five forces of the wearer, the analysis of attractiveness, the analysis of raw materials and the analysis of the position grid of the competitors.
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