As per the recently published report by MarketsandMarkets, the “Injection Molding Machine Market by Machine Type (Hydraulic, All-electric, and Hybrid), Clamping Force (0-200, 201-500 and Above 500), Product Type (Plastic, Rubber, Metals), End-Use Industry (Automotive, Packaging) and Region – Global Forecast to 2027″. The global Injection molding machine market size is projected to reach USD 12.4 billion by 2027 from USD 10.4 billion in 2022 growing at a CAGR of 3.6%.
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- 275 Market data Tables
- 56 Figures
- 290 Pages and in-depth TOC on “Injection Molding Machine Market – Global Forecast to 2027″
This report also provides a comprehensive analysis of the companies listed below:
The key market players profiled in the report include Haitian International Holdings Limited (China), Sumitomo Heavy Industries Limited (Japan), The Japan Steel Works Ltd. (Japan), Chen Hsong Holdings Limited (China), Hillenbrand, Inc. (U.S.), Nissei Plastic Industrial Co., Ltd. (Japan), Engel Austria GmbH (Austria), Arburg GmbH & Co KG (Germany), Husky Injection Molding Systems Ltd. (Canada), KraussMaffei Group GmbH (Japan), Dongshin Hydraulic Co., Ltd. (South Korea).
Recent Developments in Injection Molding Machine Market
- In June 2022, ENGEL entered into partnership with the ALPA Group, Brink and IPB printing. It is expected to enable processing recycled material (rPET) with the newly developed ENGEL e-speed injection molding machine with powerful injection unit.
- In June 2022, ENGEL underwent an expansion by establishing its ow sales ad service sudsidiary in Morocco, the Austrian Ijection Moldig Machine manufacturer and system solution provider.
- In March 2022, Che Hsong Holdings Ltd. signed a strategic cooperation agreement with the Chiers electric car manufacturer YD Group Co., Ltd. It has obtained several purchase orders for injection molding machine equipment from the company.
- In January 2022, Haitian entered into a joint venture with the HCMC University of Technology & Education for the operation of the laboratory. The lab has dedicated areas for training, mold repair, and practical operations and is equipped with injection molding machines, robots and peripheral equipment from Haitian.
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“201-500 tons force was largest clamping force segment for global injection molding machine market, in terms of value”
Based on clamping force, 201–500 ton-force segment accounted for the largest market share, in terms of value, in 2021 and is projected to register the highest CAGR during the forecast period. Demand for medium sized molded parts from end-use industries such as automotive, packaging, and consumer goods is driving the high demand for the segment during the forecast period.
“Based on product type, plastic is projected to be the fastest growing segment for injection molding machine market between 2022 and 2027”
The injection molding machine market for plastic products accounted for the largest share, in terms of value, in 2021. This dominance is expected to continue during the forecast period due to the increasing demand for plastic products from automotive, consumer goods, and packaging end-use industries, where injection molding machines are used to make a wide range of plastic products such as automotive parts, chairs, toys, syringes, bottles, and construction kits.
“Healthcare is projected to be the fastest growing end-use industry in injection molding machine market between 2022 and 2027.”
Since injection molding machines offer high precision and accuracy for complex injection molded parts, these machies are preferred for manufacturing medical products. Due to the outbreak of coronavirus across the globe, the demand for medical equipments witnessed an explosive surge, driving the market for injection molding machines in healthcare industry. In addition, the technological advancements in the medical industry towards micro parts is further fueling the demand for high precision molded parts.
“Asia Pacific projected to be fastest growing region for the injection molding machine market during the forecast period”
Asia Pacific region is offering lucrative opportunities for the growth of the injection molding machine market. Growing economies like China, India, Thailand and Vietnam are offering favourable investment opportunities in major end-use industries like automotive, healthcare, electronics and consumer goods. Rise in population in the region is driving the domestic demand for all these sectors, fueling the injection molding machine market.
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