Pune, July 23, 2024 (GLOBE NEWSWIRE) -- Injection Molding Machine Market Size Analysis:
“According to SNS Insider Research, The Injection Molding Machine Market size was valued at US$ 15.95 Billion in 2023 and is estimated to reach US$ 24.53 Billion by 2032, with a growing CAGR of 4.9% over the forecast period 2024-2032.”
Market Overview: Growth Drivers and Opportunities
The global injection molding machine market is showing promising growth due to several significant drivers. In the U.S. market, the growing demand for packages is a major factor. This is a direct result of growing consumer purchasing capacity and ever demanding lifestyles of citizens, leading to a growth in the packaging sector and an associated increase in demand for injection molds for packages. The U.S. market holds the greatest share, exceeding 60.2%, due to leading factors, such as the availability of the latest technological tools, adequately skilled workforce, sophisticated processing equipment, and substantial investments into research and development. Another significant driver for growth is represented by the industrial trend towards the integration of automation and robotics in the operation of injection molding machines.
The increasing market for intricate plastic parts primarily served by an injection molding machine is also a substantial growth driver. More and more precisely constructed and complex plastic parts are being demanded in various industries, as the technology has exceptional capacity for mass production and efficiency. In the automotive industry, the demand is being met by producing lightweight and energy-efficient dashboards, aerodynamic components, as well as intricate and precise engine parts. The result is a technology that is a perfect fit for high-volume production and great accuracy. The packaging industry is another area significantly benefiting from the injection molding machines, which produce countless different types of containers, bottles, or closures.
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Major Players Analysis Listed in this Report are:
The Key players are 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
Injection Molding Machine Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 15.95 Billion |
| Market Size by 2032 | US$ 24.53 Billion |
| CAGR | CAGR of 4.9% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • The automotive, packaging, consumer goods, and medical sectors' growing need for intricate plastic parts is driving market growth through the efficient mass production capabilities of injection molding. • Advancements in injection molding machines, including automation, robotics, real-time monitoring, predictive maintenance, and energy efficiency, are enhancing capabilities and driving market growth. |
Segmentation Analysis
By Material: The plastic segment is expected to dominate the market and seize a major revenue share of around 76.9% in 2023. On the one hand, this superiority is caused by the rapid consumption of plastic parts in the automotive industry. According to the reports, the plastic parts of the cars are lighter in weight and are less costly than the traditional materials. Besides, the injection molding machines are highly precise, repeatable, and less costly per part produces while enabling to produce the shapes of high complexity, which are complicated to achieve via other methods.
By End-Use Industry: The automotive segment is expected to be the largest market and hold a significant revenue share of around 29.4% in 2023. The injection molding machines are applied to manufacture a wide variety of automotive components, such as exterior body panels, bumpers, dashboards, spoilers, and electrical housings.
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Injection Molding Machine Market Key Segmentation:
By Material
- Plastics
- Metals
- Others
By Technology
- Hydraulic
- Electric
- Hybrid
By End-Use
- Automotive
- Consumer goods
- Packaging
- Electronics
- Others
Regional Analysis
Asia-Pacific is expected to dominate the injection molding machine market by holding a share of close to 39.6% in 2023. There are several factors contributing to its dominance such as the rising demand from the health sector, rapid industrialization in China, India, and Japan, the substantial requirement of plastic molds in electric mobility, and an increase in both within the automotive and packaging sectors across the region.
North America has the fastest CAGR of 3.95% from 2024 to 2032. The market growth in this region is ultimately responsible for the fantastic growth in the leading manufacturing market due to the solid industrial dynamics and the variety of the commodities in the countries. The leading growth in the demand for the packaged food products, the highly rising immigration rate, and the growing demand for the technologically advanced machinery like automation are among the integrating factors in the region.
Recent Developments
In November 2023: ARBURG expanded its global footprint with the inauguration of a new subsidiary in Vietnam. The primary objective was to enhance accessibility to ARBURG products and services for customers in Vietnam. The establishment of this subsidiary reflects the company's commitment to providing products and services with increased convenience, efficiency, and dependability.
In June 2023: Haitian International opened an advanced manufacturing facility in Mexico with the strategic objective of enhancing local production capacity, reducing delivery times, and delivering superior solutions to meet the technical needs of customers in North and South America.
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Key Takeaways
- Injection molding machines with advanced automation and robotics offer improved efficiency, reduced labor costs, and enhanced precision in manufacturing complex plastic components.
- The integration of Industry 4.0 technologies, including real-time monitoring and predictive maintenance, enhances machine performance and operational reliability.
- The market is shifting towards eco-friendly practices, with increasing adoption of biodegradable and recycled materials aligning with global sustainability goals.
- Growing demand from the automotive, packaging, consumer goods, and healthcare sectors drives the need for advanced injection molding machines to meet specific industry requirements.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Injection Molding Machine Market Segmentation, By Material
8. Injection Molding Machine Market Segmentation, By Technology
9. Injection Molding Machine Market Segmentation, By End-Use
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. Use Case and Best Practices
14. Conclusion
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