Wilmington, Delaware, United States, July 28, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global vertical injection molding machine market stood at US$ 806.8 million in 2022 and the global market is projected to reach US$ 1.2 billion in 2031. Global vertical injection molding machine industry is anticipated to expand at a CAGR of 4.3% between 2023 and 2031.
Vertical injection molding machines are more energy-efficient than horizontal machines, in applications like automotive parts, electronic components, and consumer goods which augments the market statistics.
Upright injection molding machines take advantage of gravity during the injection process whereas vertical machines, which act as the clamping unit and injection unit are typically in a stationary position for a significant portion of the molding cycle helping it to reduce energy consumption associated with continuous movement.
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Global Vertical Injection Molding Machine Market: Key Players
- The 100-year anniversary of the Hehl family company set the stage for ARBURG GmbH + Co KG 's latest piece of machine technology – the hybrid Allrounder 470 H. This machine saves energy and conserves resources. It is also production-efficient, user-friendly, and reliable.
- JSW launched JLM3000-MGIIeL, a magnesium injection molding machine with a mold clamping force of 3,000 tons (29,400 kN), which is the largest in the world, following 1,300-ton mold clamping force of the JLM-MGIIe series
Key Takeaways of Market Report
- Global market to generate absolute dollar opportunity worth US$ 1.2 billion until 2031.
- Global vertical injection molding machine market from 2023 to 2031 is 4.3%
- Global vertical injection molding machine industry is currently valued at US$ 854.7 million in 2023.
- Global vertical injection molding machine market stood at US$ 806.8 million in 2022. Market value of the global vertical injection molding machine market management from 2018 to 2022 is 3.8%
- Europe is said to have a market share of 32.4% in 2022
- Asia Pacific market region is estimated to have a market share of 52.8%
Global Vertical Injection Molding Machine Market: Growth Drivers
- Vertical injection molding machines are used in the production of a wide range of lightweight plastic parts and components where these machines are essential equipment in industries like automotive, electronics, packaging, healthcare, etc. Advantage of vertical injection molding machines is for producing complex and intricate parts with high precision.
- Vertical injection molding machine market segmentation has hydraulic, electric, and hybrid segments. Hydraulic systems can generate high clamping forces, allowing the machine to securely hold the mold during injection. Hydraulic machines are generally more cost-effective compared to other types of injection molding machines such as all-electric machines having lower initial purchase costs and are often more affordable to maintain and repair.
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Global Vertical Injection Molding Machine Market: Regional Landscape
- Asia Pacific accounted for a significant vertical injection molding machine market share in 2022 where this trend is projected to continue during the forecast period.
- Asia Pacific is anticipated to offer immense vertical injection molding machine market opportunities to manufacturers, due to substantial growth in the region's automotive and consumer goods industries. The increase in urbanization is also driving market progress in Asia Pacific.
- Vertical injection molding machine market analysis, Europe constituted 32.4% share in 2022, also the region is anticipated to hold a market share of 31.8% by the end of the forecast period.
Global Vertical Injection Molding Machine Market: Segmentation
- Input Material Vs. Clamping Force
- Plastic
- Up to 20 Tons
- 21 Tons to 40 Tons
- 41 Tons to 50 Tons
- 51 tons to 70 Tons
- 71 Tons to 80 Tons
- 81 Tons to 100 Tons
- >100 Tons
- Rubber
- Up to 20 Tons
- 21 Tons to 40 Tons
- 41 Tons to 50 Tons
- 51 tons to 70 Tons
- 71 Tons to 80 Tons
- 81 Tons to 100 Tons
- >100 Tons
- Others
- Up to 20 Tons
- 21 Tons to 40 Tons
- 41 Tons to 50 Tons
- 51 tons to 70 Tons
- 71 Tons to 80 Tons
- 81 Tons to 100 Tons
- >100 Tons
- Type
- Hydraulic
- Electric
- Hybrid
- Automation Grade
- Automatic
- Semi-automatic
- End-use
- Consumer Goods
- Automotive & Aerospace
- Agriculture & Waste Management
- Medical & Science
- Electrical & Electronics
- Construction
- Packaging
- Others
- Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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