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The global injection molding machine market size was valued at USD 14.7 Billion in 2018 is projected to reach USD 21.4 Billion by 2026, exhibiting a CAGR of 4.9% during the forecast period.
Consumers are using injection molding machines over the decades, for manufacturing products that are made up of plastic, metal, rubber and other materials. This machine is primarily used in manufacturing small and daily used products. Injection molding machines are manufactured in various sizes and also the manufacturers offer customized machines. Technologically, These machines offer 6 to 6,000 tons of clam capacities. Moreover, such machines can be operated by multiple sources, such as electrically, hydraulically and fuel.
There are several types of injection machines available in the market, such as horizontal injection machine, vertical injection machine, two-color injection machine, rotary, and many others. Manufacturers are adopting an injection molding machine to provide reliable and better products to their customers. Therefore, the injection moulding machine market size is expected to grow significantly from the past few years, owing to the increase in the manufacturing sector, across the globe.
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Factors, such as the increasing globalization and the demand for reliable and low-cost products are expected to boost the injection molding market revenue in the forecasted period. Furthermore, the adoption of advanced automated systems with low-cost offerings is the major trend in the market, globally. Moreover, the market share of the Asia Pacific is expected to hold a prominent market share in the coming years.
"Growing Demand from Packaging and Automobile Sector"
Both sectors are playing an important role in the development of various other industries, such as manufacturing, pharmaceuticals and many more. Moreover, the injection molding machines demand in the automobile sector has been increased from the past few years, owing to the adoption of plastic products in the manufacturing of automobiles.
Furthermore, the growing demand for injection molding machines in developing countries, such as India and China is another factor that is driving the injection molding market growth. The governments of both countries are working continuously in investing a huge amount on both the sectors, to increase the job offerings.
For instance, in India, the packaging is one of the highest growing industries among others. The packaging industry is growing at the CAGR of 22 – 23% per year.
Also, the production costs of materials that are manufactured in Asia pacific in much lower than in Europe and North America. Therefore, these are the major factors that are driving the injection molding machine market growth, especially in the Asia Pacific.
By product segment, the plastic segment is expected to hold the largest market share in the forecasted period, owing to the increasing adoption of plastic products, across the globe. However, on the other hand, ceramic products are projected to grow at higher CAGR, owing to the increasing plastic pollution, which is resulting in damaging and killing animals.
By machine type segment, the electric machine held the prominent market share in 2018 and is expected to grow at a moderate CAGR. This growth is attributed to the adoption of safe and convenient machines, with fast production rates. Moreover, Hydraulic machines are expected to grow significantly in the forecast period, owing to its low green energy emission production.
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The clamping force segment is further divided into three sub-segments, i.e. 0 – 200 ton-force, 201 – 500 ton-force and above 500 ton-force. Furthermore, 201 – 500-ton force sub-segment is expected to grow at a higher CAGR.
The end-use industry segment is bifurcated into packaging, automotive, IT & telecommunication, healthcare, construction, and others. Wherein, the packaging industry is projected to grow at higher CAGR as compared with other industries, owing to the increasing adoption of plastic, metal and other boxes in the packaging industry, to make the successful transportation of materials, across the globe.
North America is expected to hold the injection molding market size of USD 3.3 Billion in 2018, which is the second-highest after Asia Pacific. In North America, the market growth is relatively moderate, owing to the presence of well-established machine manufacturing companies. Furthermore, In the Asia Pacific, there are multiple numbers of registered and non-registered companies that are manufacturing injection molding machines and are expected to hold the largest market share analysis.
The large companies are working continuously in acquiring and partnering with different small and mid-sized companies, to enhance their product portfolio and quality. This, in turn, is allowing large companies to increase their footprints, across the region. Therefore, the injection molding machine market size in the Asia Pacific region is expanding at a significant rate, owing to the increasing adoption in India and China.
Asia Pacific Injection Moulding Machines Market Size, 2018
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In Europe, market growth relatively low because of the adoption of new rules and regulations regarding increasing pollution. Moreover, Italy manufactures injection molding machines at low prices as compared with Germany, France, and the U.K
"Haitian International, Milacron Holdings Corp., and Sumitomo Heavy Industries company holds a Prominent Market Share in Terms of Revenue"
Haitian International, Milacron Holdings Corp., and Sumitomo Heavy Industries are considered to gauge major market share in terms of revenue. In 2018, Haitan International itself manufactured 35,000 injection molding machines, in which approximately 30% of sales were covered by exporting machines to over 130 countries. This, in turn, making Haitian International the largest manufacturer of the injection molding machines, across the globe. Similarly, several other injection molding machines manufacturers are focused on producing safe, durable and fast machines. Moreover, manufacturers are also focused on partnering with other companies to provide better and enhanced services to their clients.
High demand from developing countries, technological advancements, energy-efficient products and the reduction in production cycle time are the factors that are having a significant impact on the injection moulding machine market growth.
The report provides qualitative and quantitative insights on the injection molding machine market share analysis, growth and detailed analysis of market size & growth rate for all possible segments in the market. The market has been segmented by product type, machine type, clamping force, end-use industry, and geography. By product type, the injection moulding machine market revenue is classified into plastic, metal, rubber, ceramic, and others.
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By machine type, the market size is segmented into electric, hydraulic, and hybrid. By clamping force, the market is segmented into 0 - 200 Ton Force, 201 - 500 Ton Force, and Above 500 Ton Force. By end-use industry, the market revenue is segmented into packaging, automotive, IT & Telecommunication, healthcare, construction, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, SWOT analysis, and key industry trends.
By Product Type
By Machine Type
By Clamping Force
By End-Use Industry
Fortune Business Insights says that the value of the global Injection Molding Machines Market was USD 14.7 Billion in 2018
The Injection Molding Machines Market is projected to reach USD 21.4 Billion by 2026
The Injection Molding Machines Market will grow at the rate of 4.9% CAGR