Global Injection Molding Machine Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing demand for electric vehicles, rising demand from healthcare industry and growing technological advancement in this field are contributing to the growth of Global Injection Molding Machine Market.
Global Injection Molding Machine Market is valued at USD 9234.1 Million in 2020 and expected to reach USD 11796.1 Million by 2027 with the CAGR of 3.56% over the forecast period.
An injection molding machine, also known as an injection press, is a machine that uses the injection molding method to create plastic goods. An injection molding machine is predominantly used to produce little and exact polymer components with complex shapes. The mold which is utilized in the whole process is very costly so the injection molding process is efficient just for large production limits. Injection molding machines are broadly used in the manufacturing of different plastic items, like syringes, automotive parts, bottles and others and this factor help the market development. An injection unit and a clamping unit are the two major components. Advanced processes such as overmolding and insert molding are utilized to make even the most complex parts with exquisite precision in a variety of industries, including aerospace, medical equipment, and automotive. The injection molding machine fills them out according to specifications using custom-made molds, producing identical replicas that can be altered in a variety of ways. The injection molding technique can be used to make a wide range of components and products with a wide range of structures, dimensions, and end-use applications.
The COVID-19 pandemic outbreak has considerably affected production and distribution of injection molding machine. The businesses have faced losses owing to the slow growth in sales and decline in profits. However, rising interest for clinical devices across hospitals and laboratories during the COVID-19 pandemic is expected to show little positive impact on market development. During COVID-19 pandemic, the demand for clinical equipment like needles, air systems, and other medical instruments raised dramatically. Countries like India and China turned into the center for manufacturing and meeting the need for every one of this equipment across the globe. Post-COVID-19 pandemic, the government authorities are required to invest more in medical services infrastructure development. However, its automotive application was disturbed due to decline in the automotive industry during the Covid-19 which has affected its market growth in this industry.
Global injection molding machine market is segmented into machine type, product type, clamping force, end-use industry and region & country level. Based upon machine type, global injection molding machine market is classified into hydraulic, electric and hybrid. Based upon product type, the market is divided into plastic, rubber, metal, ceramic and others. Based upon clamping force, the injection molding market is divided into 0-200 ton-force, 201-500 ton-force and above 500 ton-force. On the basis of end-use industry, the market is segmented into automotive, packaging, healthcare, electrical & electronics, consumer goods and others.
By Machine Type:
By Product Type:
By Clamping Force:
By End-Use Industry:
The regions covered in this global injection molding machine market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of global injection molding machine is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Major players in the global injection molding machine market are Asian Plastic Machinery Co. Ltd., Arburg GmbH & Co. KG, Chen Hsong Holdings Limited, Dongshin Hydraulic Co. Ltd., Engel Austria, Haitian International Holdings, Hillenbrand Inc., Husky Injection Molding Systems,Japan Steel Works Ltd., Milacron Holdings Corp., NegriBossi S.P.A., Sumitomo Heavy Industries and others.
News: ENGEL Launched the Latest in Its Series of All-Electric e-Cap Injection Moulding Machines – the e-Cap 380.
March 9th, 2020; ENGEL launched the latest in its series of all-electric e-cap injection moulding machines; the e-cap 380.The reinforced frame and the reinforced mould mounting platens on the new e-cap reportedly ensure excellent stability of the machine movements even with extremely short cycles and very small shot volumes. The new e-cap generation is offered with two different ejector drive technologies. The machine works with hydraulic ejectors as standard. Servo-electric drives are available as an option, which reportedly require around 10% less energy. The new e-cap is available in the sizes 220, 280, 380 and 420 with clamping forces from 2,200 to 4,200 kN.
The major factors driving the growth of global injection molding machine market are growing automotive sector & its increasing demand for electric vehicles. According to the International Organization of Motor Vehicle Manufacturers OICA, in 2017, 73.4 million cars and 23.84 million trucks were produced in the world. In the automotive industry over the last ten years (2007-2017) there was a 25% increase in production. In 2019, electric cars accounted for 2.6 % of global car sales and around 1% of global car stock, representing a 40 % rise year over year. The global electric vehicle stock is expected to rise at a rate of 36% per year, reaching 245 million vehicles in 2030, which is more than 30 times the current level. In addition, its rising demand from healthcare industry is also fostering the growth of global injection modeling machine market. According to the World Health Organization, the health sector continues to expand faster than the economy. Between 2000 and 2017, global health spending in real terms grew by 3.9% a year while the economy grew 3.0% a year. This expansion and growth of healthcare sector is boosting the demand for injection molding machine market.
Furthermore, technological development and increasing industrialization are also supplementing the growth of the global injection molding market. For instance, in 2019, Milacron is intending to launch its advanced plastic processing technology (APPT) .The Company dispatching its new item and technology in Dusseldrof, Germany in October 2019. Items that the organization is going to showcase at the occasion incorporate Mold-Masters, DME, TIRAD, and CIMCOOL. According to the United Nations Industrial Development Organization 2019, manufacturing output increased by a modest 0.5 %, following a 1.6 % increase in the previous quarter in North America.
However, high initial and maintenance cost required for machines may hamper the growth of global injection molding machine market. In spite of that, increasing demand for plastic molds in electric vehicles may create more opportunities for the global injection molding machine market to growth.
Asia Pacific is expected to show a lucrative growth in the global injection molding machine market due to increasing demand for injection molding machine from automotive sector, rising industrialization and increasing development of new technologies and products. According to the China Association of Automobile Manufacturers; China's auto market is expected to grow slightly in the next five years. It predicts that China's auto sales will reach around 27.75 million vehicles in 2025, up from 25.77 million units in 2019.
Europe is the next growing market for injection molding machine market over the forecast period due to the growing automotive sector and presence of key players in this region. According to the European Automobile Manufacturers Association (ACEA), in 2018, EU manufacturers produced 16.5 million passenger cars, accounting for 21% of worldwide car production, as well as over 2.6 million commercial vehicles. In 2018, about 6.1 million of such automobiles were exported, resulting in a €84.4 billion trade surplus for the European Union. For example, in October 2020, Sumitomo Heavy Industries Ltd (SHI) launched 5 sorts of models to SEEV-A-SHR arrangement with a bracing power of 1000, 1300,1800,3500,4500 kN. These are really fast electric injection molding machines.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 9234.1 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 11796.1 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Asian Plastic Machinery Co. Ltd., Arburg GmbH & Co. KG, Chen Hsong Holdings Limited, Dongshin Hydraulic Co. Ltd., Engel Austria, Haitian International Holdings, Hillenbrand Inc., Husky Injection Molding Systems,Japan Steel Works Ltd., Milacron Holdings Corp., NegriBossi S.P.A., Sumitomo Heavy Industries and others|
|Segments Covered||By Machine Type, By Product Type, By Clamping Force, By End-Use Industry|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|