Injection Molding Machine Market Share, Industry Growth, Trend, Drivers, Challenges, Key Companies by 2027
Injection
Molding Machine Market To Reach USD 23.85 Billion By 2027
The growing demand in the automobile
industry, technological advancements, and the rising demand from the packaging
industry are driving the need for the market.
Market
Size – USD 18.38 Billion in 2019, Market Growth - CAGR of 3.5%, Market Trends
– High demand from developing nations.
The
Global Injection Molding Machine market is expected to be worth USD
23.85 Billion in 2027, from a valuation of USD 18.38 Billion in 2019,
registering a CAGR of 3.5% over the estimated period. Several superior
structural characteristics of injection molding machines, the rapid growth as
well as modernization in the machines, and the growing demand from various
industrial applications are majorly augmenting the market’s demand globally.
The growing need for distinct injection-molded plastic products is boosting the
molding machine’s adoption for injection. Moreover, the rising focus on
energy-efficient devices use would further propel the industry’s growth. The
hybrid machine’s development and surging use of all-electric machines are also
fueling the industry’s growth in the coming years. Increasing information
regarding energy saving is further accelerating the market’s expansion.
Furthermore, the rising production levels and fast production by the use of
injection molding are contributing to the industry’s growth.
The
injection molding machine offers high efficiency in manufacturing products,
enhanced durability, and an increasing level of process energy efficiency,
helping to produce a broad range of products. The lightweight material’s
greater emphasis in the automotive industry has predicted the use of plastic in
automotive parts’ manufacturing, propelling the market. The growing population,
mushrooming industrialization, and several emerging technologies have granted
various lucrative avenues for the automobile in emerging economies.
The prices
of high injection molding machines and high cost of tooling costs, however,
restricting the market’s growth.
The industry has suffered some pandemic impact, although it maintained
a positive performance. COVID-19’s debilitating effect has taken a toll on the
demand and production, market disruption, and established supply chain. Its
economic impact on financial markets and companies is also not favorable.
Volatility in the stock market and decreasing global growth are predicted,
which will cause the disruption in the sale of injection molding machines.
To
identify the key trends in the industry, click on the link below:
https://www.reportsanddata.com/report-detail/injection-molding-machine-market
Further
key findings from the report suggest
· The growing urbanization, the
increasing government expenditure on various packaged goods, and the surging
e-commerce are boosting the packaging industry’s growth. Among manufacturers,
the presence of a competitive environment has led to the adoption of several
types of packaging.
· Asia Pacific emerged as the leading
regional market. The elevating need from the automotive sector, due to the
escalating demand for several lightweight vehicles along with the growing
numbers of various domestic manufacturers assisted by imposed guidelines by
governments, is accelerating the regional market.
· North America follows Asia Pacific on
the basis of market share, and the automobile sub-segment led the industry. The
region is foreseen to occupy a CAGR of 3.8% over the projected period.
· The U.S., owing to its advanced
technology industries, modern processing capabilities, coupled with a skilled
workforce and increasing R&D initiatives, is one of the leading nations in
the sector.
· Major participants are Sumitomo (SHI) Demag Plastics Machinery
GmbH, Chen Hsong Holdings Ltd., Arburg GmbH + Co KG, Haitian International Holdings
Ltd., Milacron, ENGEL Austria GmbH, Husky Injection Molding Systems Ltd.,
Nissel Plastic Industrial Co. Ltd., Japan Steel Works Limited, and Toyo
Machinery & Metal Co. Ltd.
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For the
purpose of this report, Reports and Data has segmented the Global Injection
Molding Machine Market on the basis of material, technology, application, and
region:
Material
Outlook (Revenue, USD Billion; 2017-2027)
· Plastic
· Metal
Technology
Outlook (Revenue, USD Billion; 2017-2027)
· Hydraulic
· Electric
· Hybrid
Application
Outlook (Revenue, USD Billion; 2017-2027)
· Automotive
· Consumer Goods
· Packaging
· Electronics
· Others
Regional
Outlook (Revenue, USD Billion; 2017-2027)
· North America
o
U.S.
· Europe
o
U.K.
o
France
· Asia Pacific
o
China
o
India
o
Japan
· Latin America
o
Brazil
· Middle East & Africa
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