New York, United States , Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Global Injection Molding Machine Market Size to grow from USD 10.54 billion in 2021 to USD 17.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6% during the forecast period. The injection molding machine market has grown because of more industries, including those in the automotive, electronics, consumer goods, and packaging, according to a research report published by Spherical Insights & Consulting.
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Browse 72 market data Tables and 63 Figures spread through 245 Pages and in-depth TOC on “Global Injection Molding Machine Market Size, Share, and COVID-19 Impact Analysis, By Material (Plastic, Metal, and Others), By Technology (Hydraulic, Electric, and Hybrid), By End-user Industry (Automotive, Electronics, Packaging, Consumer Goods, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.”
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The plastic segment to account for the largest market size during the forecast period.
Based on the material, the injection molding machine market is categorized into Plastic, Metal, and Others. The plastic segment to account for the largest market size during the forecast period. Because of their affordability and lightweight, plastic parts are rapidly becoming more popular in the automobile sector, which is likely to drive the segment's expansion over the forecast period. Plastic products offer high repeatability and precision at a reasonable cost per part. The device also mass-produces intricate geometric pieces. The production process using a plastic injection molding machine is quick and costs less labour than other traditional methods.
The hydraulic segment to hold a higher CAGR during the forecast period
Based on the technology, the injection molding machine market is categorized into Security and Protection Hydraulic, Electric, and Hybrid. The hydraulic segment to hold a higher CAGR during the forecast period. The ability to produce large quantities of parts, intricate parts for the automotive industry, lower initial costs, the creation of precise molds, the higher wear and tear resistance of hydraulic parts, and the widespread use in the automotive, marine, and aerospace industries—where heavy force is required—are all expected to contribute to the market's expected growth.
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The automotive segment to hold a higher CAGR during the forecast period.
Based on the end-user industry, the injection molding machine market is categorized into Automotive, Electronics, Packaging, Consumer Goods, and Others. The automotive segment to hold a higher CAGR during the forecast period. Because of things like repeatability, material compatibility, quick prototyping with quick tooling, high precision, and a smooth surface. Additionally, it is anticipated that increased vehicle production and the rising need for lightweight automotive components will fuel market expansion.
North America to hold a higher CAGR during the forecast period.
The Global Injection molding machine market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia-Pacific is estimated to account for the highest market share in 2022. Due to the rising demand from different end-use industries, growth in R&D activities, favourable investment policies by the government to support industrial growth, rapid economic growth in emerging nations, and a strong consumer base in nations like China, Japan, and India.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Injection molding Machine Market: 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, UBE Machinery, Shibaura Machine Co. Ltd., WittmannBattenfeld, and Hillenbrand, INC.
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