Injection Molding Machines Market Projected to Hit $14.41B by 2027
The COVID 19 outbreak has negatively affected the growth of the global injection molding machines industry owing to the lockdown measure in different countries globally and delay in manufacturing and production of injection molding machines.
The various features of injection molding machines such as robustness, easy to operate, higher manufacturing rates and rapid production, and high-quality fuel the global injection molding machines market growth. In addition, there has been a rise in the automotive industry in emerging economies such as India, Brazil, and Africa, which further drive the demand for high-performance plastic components, thereby fueling the growth of the injection molding machinery market.
The global injection molding machines market size was valued at $10.89 billion in 2019, and is projected to reach $14.41 billion in 2027, growing at a CAGR of 5.7%.
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Injection Molding Machines Market by Clamping Force (Less Than 200 Tons Force, 200 Tons to 500 Tons Force, and More Than 500 Tons Force), Machine Type (All-electric, Hydraulic, and Hybrid), Solution (New Sales and Aftermarket), Pressure Type (Low Pressure and High Pressure), and Application (Automotive, Packaging, Electronics, Healthcare, Consumer Goods, Toy Making, Building and Construction, Home Appliances, and Others)
For instance, Brazilian automotive industry is expected to grow with 4.5% from 2017 to 2022. Further, these machines can yield efficient packaging with high accuracy for brittle and complex components such as consumer goods and electronics and mobile phones. Hence, the escalating adoption of these products is expected to add to the development of the industry. However, high threat of low volume, cost-effective substitutes such as urethane casting, 3D printing, thermoforming, and others is expected to hamper the growth of the industry.
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Key Market Players
Key companies profiled in the report include ARBURG, ENGEL, Haitian International, Husky Injection Molding Systems, KraussMaffei Group, Milacron Holdings Corp., Nissei Plastic Industrial Co., Ltd., Sumitomo Heavy Industries, The Japan Steel Works, Ube Industries, Ltd., BMB S.P.A., Nigon, and Shibaura Machine Co. Ltd.
Key Benefits
- The report provides an extensive analysis of the current and emerging injection molding machines market trends and dynamics.
- In-depth market analysis is conducted by estimations for the key market segments between 2019 and 2027.
- Extensive analysis of injection molding machines market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global injection molding machines market forecast analysis from 2020 to 2027 is included in the report.
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