Injection Molding Machine Market by Product Type (Plastic, Rubber, Metal), Machine Type (Hydraulic, All-Electric, Hybrid), End-Use Industry (Automotive, Packaging, Consumer Goods), Clamping Force (0-200, 201-500, Above 500) - Global Forecast to 2023
“Rising demand for injection-molded parts from end-use industries is expected to drive the injection molding machine market.”
The injection molding machine market is estimated to be USD 17.08 billion in 2018 and is projected to reach USD 19.68 billion by 2023, at a CAGR of 2.9% between 2018 and 2023. The injection molding machine market is largely driven by the rising demand for injection-molded parts from the automotive, packaging, consumer goods, healthcare, and electrical & electronics end-use industries. Injection molding machines offer various advantages, such as enhanced accuracy, improved flexibility, and high level of energy efficiency in the manufacturing process. These advantages enable these machines to manufacture a greater range and variety of products. The high demand from the packaging industry, rising demand for energy saving, growing automotive industry, and advancements in injection molding technology are some of the factors driving the injection molding machine market. However, the use of injection molding machines for lower production capacities is less economical, which is a major factor restraining the growth of the market.
“The all-electric segment is expected to be the fastest-growing machine type segment of the injection molding machine market, in terms of value, from 2018 to 2023.”
The all-electric machine type segment is expected to witness the highest growth, in terms of value, from 2018 to 2023. All-electric machines are quieter, faster, and more accurate as compared to other types of injection molding machines, and can save up to 50%-70% energy as compared to hydraulic injection molding machines. All-electric injection molding machines are the most preferred type of injection molding machines owing to their lower use of chilled water, decreased housekeeping and preventive maintenance, lower energy and oil consumption, and lower repair rate. An all-electric injection molding machine allows the operation to become more competitive with better part quality. These factors are expected to drive the demand for all-electric injection molding machines during the forecast period.
“Asia Pacific is expected to be the fastest-growing injection molding machine market during the forecast period, in terms of value and volume.”
The Asia Pacific injection molding machine market is estimated to witness the highest growth due to the rapidly growing automotive, packaging, consumer goods, healthcare, and electrical & electronics end-use industries in the region. Asia Pacific is also home to key players in the injection molding machine market such as Haitian International (China) and Chen Hsong (China).
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, primary interviews were conducted as follows:
By Company Type: Tier 1 (46%), Tier 2 (31%), and Tier 3 (23%)
By Designation: C-Level (46%), Director Level (27%), and Others (27%)
By Region: North America (33%), Europe (27%), APAC (27%), Middle East & Africa (6%), and South America (7%)
Key players profiled in the report include Haitian International (China), Chen Hsong (China), Milacron (US), The Japan Steel Works (Japan), Sumitomo Heavy Industries (Japan), Arburg (Germany), Nessei Plastic (Japan), Husky (Canada), and Engel (Austria).
This report segments the market for injection molding machines on the basis of product type, machine type, end-use industry, clamping force, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis has been conducted to provide insight into the business overviews, products & services, key strategies, new product launches, expansions, contracts & agreements, and acquisitions of key industry players, along with the recent developments in the injection molding machine market.
Reasons to Buy This Report
This research report is focused on various levels of analyses—industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together comprise and discuss the overall view of the competitive landscape; emerging and high-growth segments of the injection molding machine market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on injection molding machines offered by top players in the global injection molding machine market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the injection molding machine market.
Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for injection molding machine across various regions.
Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the global injection molding machine market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the injection molding machine market.