The Global Injection Molding Machine Market Size Was Worth USD 18.6 Billion In 2020 And Is Expected To Reach USD 24.2 Billion By 2027, CAGR Of 3.8%
Injection Molding Machine Market
The injection molding machine market is set for rapid growth over the forecast period. In terms of revenue, the global injection molding machine market size accounted for USD 18.6 Billion in 2020 and is expected to reach USD 24.2 Billion by 2027, growing at a CAGR of 3.8% from 2020 to 2027
The global injection molding machine market is anticipated to grow at a rapid rate due to various reasons such as a reduction in manufacturing time leading to higher productivity. This technology is used for manufacturing precision plastic and metal parts for the electrical, automotive, electronics, and consumer goods industry on a mass productivity level. Investments in research and development by major companies in this sector are leading to the growth of the injection molding machine market. Various industries are adopting industry 4.0 for higher productivity through accurate automation techniques which are booming the growth and sale of injection molding machines globally.
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The growing automotive, medical device, and consumer goods industry is one of the most important factors for the growth of the injection molding machine market. Due to minimal investments small and medium companies are investing in this technology. Plastic household and consumer products such as buckets, trays, cups, bottle caps, mugs, etc. are manufactured using injection molding technology. Increasing interest in the packing industry using injection molding is gaining importance in various industries. Hygienic products for the food & cosmetic industry are promoting the growth of the injection molding machine market.
Industry sectors such as aerospace and automotive highly precision products are required due to this the rise in rejection percentage especially for plastics and rubber products is the major restraining factor in inject molding technology. Moreover, the COVID-19 pandemic has shown a drastic downfall in the injection molding industry. The factor restraining injection molding technology is the higher costs of molds for the automotive and aerospace industries.
|Injection Molding Machine Market Research Report
|Market Size in 2019
|USD 18.6 Billion
|Market Forecast in 2026
|USD 24.2 Billion
|Compound Annual Growth Rate
|CAGR of 3.8%
|Number of Pages
|Value (USD Billion), and Volume (Units)
|Key Companies Covered
|Arburg GmbH + Co KG, Haitian International Holdings Limited, Milacron, Nissei Plastic Industrial Co., Limited, ENGEL Austria GmbH, Sumitomo (SHI), Demag Plastics Machinery GmbH, Battenfeld Inc., and among others.
|By Type, By Material, By Application, By Clamping Force, And By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
|North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|2016 to 2020
|2022 - 2030
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The injection molding machine market is segmented based on type, material, application, and region.
In terms of application, the injection molding machine market is segmented as hydraulic, hybrid, and electrical.
On basis of material, it is segmented as plastic, metal, rubber, and others.
On basis of application injection molding machine market is segmented as automotive, electronics & electrical, consumer goods, medical devices, and others.
On basis of clamping force in tonnage, it is segmented as 5-10 tons, 10-200 tons, 200-1000 tons, and 1000-3000 tons.
Regionally, the injection molding machine market is diversified into North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa.
Based on regions, the global injection molding machine market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. China & India are anticipated to show more growth in the injection molding machine market due to high demand for consumer goods, electrical and automotive products. Asia Pacific is leading in the manufacturing sector due to lower labor costs and higher manufacturing capability leading to the growth of the injection molding machine market. European Region is leading in injection molding machine technology in terms of research & development for electric and hybrid injection molding machines as large-scale companies are investing in this sector for minimum energy consumption, higher precision, and maximum output productivity.
Some of the key players in the injection molding machine market are
By Clamping Force
The global Injection Molding Machine Market was valued at USD 18.6 Billion in 2020.
The global injection is expected to reach USD 24.2 Billion by 2027, growing at a CAGR of 3.8% between 2020 to 2027.
Growing automotive, medical device and consumer good industry is one of the most important factors for growth of injection molding machine market
China & India is anticipated to show more growth in injection molding machine market due to high demand for consumer goods, electrical and automotive products. Asia pacific is leading in manufacturing sector due to lower labor costs and higher manufacturing capability leading to growth of injection molding machine market.
Some of the major companies operating in the global injection molding machine Arburg GmbH Co KG, Haitian International Holdings Limited, Milacron, Nissei Plastic Industrial Co., Limited, ENGEL Austria GmbH,Sumitomo (SHI) Demag Plastics Machinery GmbH, Battenfeld Inc., and among others.