SAN FRANCISCO, Feb. 16, 2022 /PRNewswire/ -- The global injection molding machine market size is expected to reach USD 20.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2021 to 2028. The growing demand for lightweight and complex components in the automotive and electronics industry is projected to increase industry growth over the years.
Key Insights & Findings from the report:
- The plastic injection molding machine segment is anticipated to witness a CAGR of 4.6% from 2021 to 2028 on account of a strong shift from metal parts towards plastic components in the automotive industry.
- The hydraulic injection molding machine segment accounted for 45.2% of the overall market in 2020 owing to the increasing demand for heavy and complex parts in industries such as automotive, marine, defense, and aerospace.
- The automotive end-use industry is estimated to witness a CAGR of 4.4% over the forecast period on account of wide use in producing automotive parts such as interior and exterior trim components, electronic subassemblies, and other under-hood applications.
- Germany accounted for 35.1% of the European market revenue, owing to the presence of advanced infrastructure & technology, R&D initiatives and facilities, and a highly-skilled workforce.
- The pandemic caused unprecedented supply chain disruptions, which has prompted manufacturers to opt for localized manufacturing, providing a boost to the injection molding market.
Read 138-page market research report, "Injection Molding Machine Market Size, Share & Trends Analysis Report by Material (Metal, Plastic), By Technology (Hydraulic, Electric), By End Use (Automotive, Consumer Goods, Packaging), By Region, And Segment Forecasts, 2021 - 2028", published by Grand View Research.
Injection Molding Machine Market Growth & Trends
The COVID-19 pandemic has caused unprecedented supply chain disruptions resulting in heavy losses for the market. However, the demand for PPE and medical equipment has created an upsurge for injection molding machines and has accelerated the use of automation with a focus on shortening production cycle time and increasing productivity.
The demand for electric injection molding machines is rising due to factors such as higher suitability to cleanrooms and reduced downtime. With companies focusing on environment-friendly manufacturing, the demand for electric injection molding machines that increase energy savings is anticipated to grow during the forecast period.
The major players in the market have invested extensively in research and development operations in recent years, which has led to the introduction of several innovative technologies, including Gas Assisted Injection Molding (GIT), foam injection molding, and multi-component injection molding that can be used across the market.
Injection Molding Machine Market Segmentation
Grand View Research has segmented the global injection molding machine market on the basis of material, technology, end-use, and region:
Injection Molding Machine Market Material Outlook (Revenue, USD Million, 2017 - 2028)
- Plastics
- Metals
- Others
Injection Molding Machine Market Technology Outlook (Revenue, USD Million, 2017 - 2028)
- Hydraulic
- Electric
- Hybrid
Injection Molding Machine Market End-use Outlook (Revenue, USD Million, 2017 - 2028)
- Automotive
- Consumer Goods
- Packaging
- Electronics
- Others
Injection Molding Machine Market Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- Denmark
- Austria
- Asia Pacific
- China
- India
- Japan
- Taiwan
- South Korea
- Central & South America
- Argentina
- Brazil
- Middle East & Africa
- Saudi Arabia
- UAE
List of Key Players of 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
- Toshiba Machine Co., Ltd.
- Wittmann Battenfeld
- Hillenbrand, INC.
Check out more other studies published by Grand View Research:
- Metal Injection Molding Market - The global metal injection molding market size is anticipated to reach USD 6.52 billion by 2025, at a registering a CAGR of 11.9% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for small components in the automotive, consumer products, and medical equipment industry is projected to propel market demand over the coming years.
- Sorting Machines Market - The global sorting machines market size is expected to reach USD 6.10 billion by 2028, registering a CAGR of 5.9% over the forecast period, according to a new report by Grand View Research, Inc. The rising focus on automation to boost productivity coupled with the increased demand for reducing delivery time & process in the food industry is anticipated to complement the market growth.
Browse through Grand View Research's Micro Molding & Microspheres Industry Research Reports.
Browse through Grand View Research's Advanced Materials Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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