Global Injection Molding Machine Market Size 2024, Forecast To 2033
6 Mar, 2024
The injection molding machine market size has grown strongly in recent years. It will grow from $13.14 billion in 2023 to $13.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to industrialization and mass production, material innovation and development, consumer product evolution, environmental concerns and regulations, cost-effectiveness, and production efficiency. The injection molding machine market size is expected to see strong growth in the next few years. It will grow to $17.07 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increasing demand for precision and efficiency, industry 4.0 integration, a shift towards sustainable manufacturing, market expansion in emerging economies, customization, and flexibility demands. Major trends in the forecast period include global market expansion and diversification, a shift towards electric machines, demand for high-speed and high-pressure machines, sustainability, and energy efficiency.
Global Injection Molding Machine Market Key Driver
The growing electronics industry is expected to propel the growth of the injection molding machine market going forward. The electronics industry refers to the sector of the economy that produces electronic components, devices, and systems such as semiconductors, integrated circuits, computer hardware, telecommunications equipment, consumer electronics, and other electronic products. Injection molding machines are used in the electronics industry to provide protection for electronic products, produce less waste than other manufacturing processes, have versatility in material selection, and produce high volumes of parts quickly and efficiently. For instance, in July 2022, according to the ZVEI e. V., a Germany-based electro and digital industry association, the global electric market was 4.5 trillion euros ($4.97 trillion) increased in 2021, accounting for 5.0 trillion euros ($5.52 trillion) respectively. Therefore, the growing electronics industry is driving the growth of the injection molding machine market. The market size of the injection molding machine market in 2023 was [insert 2023 market size], and it is projected to reach [insert 2024 market size] by 2024 and [insert 2028 market size] by 2028.
Get A Free Sample Of The Global Injection Molding Machine Market ReportGlobal Injection Molding Machine Market Segments
The injection molding machine market covered in this report is segmented –
1) By Technology: Hydraulic, Electric, Hybrid
2) By Clamping Force: Less Than 200 Tons Force, 200-500 Tons Force, More Than 200-500 Tons Force
3) By Material: Plastic, Rubber, Metal, Ceramic, Other Materials
4) By Pressure Type: Low Pressure, High Pressure
5) By Application: Automotive, Packaging, Healthcare, Consumer Goods, Toy Making, Building And Construction, Home Appliances, Other Applications
By Geography:The regions covered in the injection molding machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the injection molding machine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global injection molding machine market during the forecast period. The regions covered in the injection molding machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Injection Molding Machine Industry Players
Arburg GmbH + Co KG, Haitian International Holdings Limited, Milacron Holdings Corp, 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 Corporation Ltd., Shibaura Machine Co Ltd., Wittmann Battenfeld, Toshiba Machine Co Ltd., Negri Bossi SpA, Mitsubishi Heavy Industries Plastic Technology Co Ltd., Victor Taichung Machinery Works Co Ltd., Woojin Plaimm Co Ltd., Billion SAS, Dr. Boy GmbH & Co KG, Fu Chun Shin Machinery Manufacture Co Ltd., Huarong Plastic Machinery Co Ltd., L.K. Machinery International Limited, LS Mtron Ltd., Multiplas Enginery Co Ltd., Niigata Machine Techno Co Ltd., Sodick Co Ltd., Yizumi Precision Machinery Co Ltd., Cincinnati Milacron, WINTEC Co. Ltd, IKS PVD Technology (Shenyang) Co Ltd
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Injection Molding Machine Market Overview
An injection molding machine refers to a machine used for manufacturing of plastic products and consists of a hopper, an injection unit, a clamping unit, and a control unit. It works by heating plastic pellets until they are molten and then injecting the molten plastic into a mold cavity to create the desired shape.
Injection Molding Machine Global Market Report 2023 provides data on the global injection molding machine market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The injection molding machine market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.