Dublin, Dec. 24, 2021 (GLOBE NEWSWIRE) -- The "Global Micro Injection Molding Machines Market by Type, Application and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global micro injection molding machines market is projected to reach USD 609 million by 2026, at a CAGR of 9.8% from USD 381 million in 2021.
The major drivers of this market are growth in automotive sector and rising demand from medical application. The shift towards nanotechnology and miniaturization in medical industry is driving the demand of highly precise molds which are efficient to perform medical procedures. In addition, the ongoing automation in vehicles and introduction of electric vehicles is further increasing the demand of high-precision parts to enhance the performance.
The major restraint to market growth is due to the high technology of all-electric machines, the investment costs are high. Another disadvantage is the high maintenance cost. In case of motor failure, the entire system must be changed, which entails significantly high maintenance costs. The global economic slowdown due to COVID-19 also impacted the market. This has disrupted the global supply chain, severely impacting the automotive industry. To retain the spread of the coronavirus, governments and international bodies issued various regulations for industries and manufacturers.
The demand for micro molded plastic parts in automotive, electronics and medical application is driving the demand for micro injection molding machine with clamping force 30 to 40 tons.
Medical is estimated to be the largest application of micro injection molding machine market between 2021 and 2026
The technological advancement in the medical industry is fueling the use of micro parts in its medical processes to enhance the overall procedure with better results for their patients. Intensive R&D is further increasing the demand for medical micro parts, thus, increasing the demand for micro injection molding machine in medical application.
APAC is expected to be the largest micro injection molding machine market during the forecast period, in terms of value
In APAC, China is the largest micro injection molding machine market. Increasing domestic demand due to the rapid increase in manufacturing facilities and other commercial units is expected to continue driving the demand for micro injection molding machine in the region. Increasing population and demand, accompanied by initiatives for new technologies and products, are projected to make this region a promising micro injection molding machine market. The growing population will have a significant impact on automotive and electronics industry in the region.
Research Coverage
This report segments the market for micro injection molding machine on the basis of type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for micro injection molding machine.
Key Topics Covered:
Executive Summary
- 30 to 40 Tons Clamping Force Segment to Dominate Micro Injection Molding Machines Market
- Medical to be Largest Application of Micro Injection Molding Machines Market
- Asia-Pacific Accounted for Largest Share of Micro Injection Molding Machines Market in 2020
Premium Insights
- Attractive Opportunities for Micro Injection Molding Machine Manufacturers - Shift Towards Electric Vehicles to Drive Demand for Micro Injection Molding Machines
- Micro Injection Molding Machines Market, by Region - Asia-Pacific to be Largest Micro Injection Molding Machines Market Between 2021 and 2026
- Micro Injection Molding Machines Market Share, Region Vs. Application - Medical Application is Largest Consumer of Micro Injection Molding Machine
- Asia-Pacific: Micro Injection Molding Machines Market, by Application and Country, 2020 - China Accounted for Largest Share of the Market
- Micro Injection Molding Machines Market Attractiveness - India to Witness High Demand for Micro Injection Molding Machines Between 2021 and 2026
Market Dynamics
Drivers
- Growth in Automotive Sector Fueling Demand for Micro Injection Molding Machine
- Rising Demand from Medical Application
- Growing Healthcare Expenditure and Favorable Reimbursement Scenario
Restraints
- High Initial and Maintenance Cost of Machines
Opportunities
- Rising Trend of Electric Vehicles to Increase Demand for Micro Injection Molds
Challenges
- Less Economical for Small Production Capacities
- Requirement of Skilled Personnel for Operation of Micro Injection Molding Machine
Company Profiles
- Anntong Ind. Co. Ltd.
- Arburg GmbH & Co. KG
- Babyplast (Rambaldi Group)
- Boy Machines, Inc.
- Engel Austria GmbH
- Milacron Holdings Corp. (Hillenbrand)
- Ningbo Shuangsheng Plastic Machinery Co. Ltd.
- Nissei Plastic Industrial Co. Ltd.
- Sodick Co. Ltd.
- Sumitomo Heavy Industries Limited
- The Japan Steel Works Ltd.
- Wittmann Battenfeld GmbH
For more information about this report visit https://www.researchandmarkets.com/r/fnd9k5
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