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[178 + Pages Research Report] Global Plastic Injection Molding Machine Market to surpass USD 13.2 billion by 2030 from USD 9.1 billion in 2020 at a CAGR of 4.6% in the coming years, i.e., 2021-30.
Product Overview
A plastic injection molding machine is a machine that is used to inject plastic materials into moulds. An injection unit and a clamping unit are the two main components. Plastic injection molding machines make parts by injecting molten material into a mould, which then cools and hardens to form around the shape of the cavity. Plastic injection molding is used to make a variety of plastic products, from medical equipment to toys. Plastic injection molding is used to make several components in the aerospace and automobile industries.
Market Highlights
Global Plastic Injection Molding Machine market is expected to project a notable CAGR of 4.6% in 2030.
The growing need for injection molding machines in end-use sectors like automotive, consumer products, packaging, healthcare, electrical & electronics, and others is driving the market. The injection molding machine market will be driven by factors such as rising demand from the healthcare industry, fast industrialization in developing economies such as China, India, and Thailand, and rising need for plastic moulds in electric vehicles. Over the projected period, rapid development in the use of plastic parts in the automotive industry, owing to their lighter weight and lower cost is expected to drive the market for plastic injection molding machines. Market expansion is projected to be aided by advancements in the production of injection molding machines that can produce complicated products at fast speeds and in huge quantities.
Global Plastic Injection Molding Machine: Segments
Hydraulic injection molding segment to grow with the highest CAGR during 2020-30
Global Plastic Injection Molding Machine market is segmented by type into Electric, Hybrid and Hydraulic. In the plastic injection molding machine business, the hydraulic injection molding machine had the largest market share. Because of its extended service life and wide range of applications, the hydraulic injection molding machine is the most frequent machine type.
Automotive segment to grow with the highest CAGR during 2020-30
Global Plastic Injection Molding Machine market is divided by end user into Automotive, Medical, Consumer goods, Electronics and Others. Over the forecast period, the Automotive segment is projected to expand at the fastest pace because plastic injection molding machines are mostly utilized in the manufacturing of vehicle exteriors, car lenses, interior components, under-the-hood components, and filtration components, the automotive sector is likely to be the largest end-user industry in the market.
Market Dynamics
Drivers
Cost effectiveness and technical advancements
Plastic injection molding machines are a cost-effective and energy-efficient way to mass-produce plastic items. Plastic demand is predicted to grow in the automotive, packaging, home appliance, and other end-user industries, propelling the industry forward. The injection molding method has improved, making mass manufacture of complex plastic structures easier and more efficient. The industry will grow because construction spending has surged in important emerging markets. The Plastic Injection Molding Machine Market is likely to benefit from technological improvements such as IoT-enabled injection molding machines and software-assisted injection molding machines.
Awareness regarding energy conservation and high efficiency
Around the world, people are becoming more aware of the importance of conserving energy. As a result, demand for all-electric injection molding equipment is expanding. The all-electric plastic injection molding machine is the most popular. The major reasons are its numerous benefits, which include energy savings, enhanced precision and reusability, inexpensive maintenance and high speed. In terms of efficiency, dependability, cost savings, cycle time savings, and reusability, all-electric injection molding machines surpass hydraulic machines.
Restraint
Environmental concerns associated with the market and high machinery cost
The increased environmental concerns regarding the disposal of by-products, trash, and VOCs, as well as fluctuating pricing of raw materials such as benzene, propylene, ethylene, and styrene, could stymie plastic manufacturing and eventually limit market growth. In addition, the maintenance costs, as well as the initial high cost of machines, may stifle market expansion. Furthermore, the availability of alternatives such as 3D printing, urethane casting, and thermoforming is projected to limit the Plastic Injection Molding Machine Market's growth.
Global Plastic Injection Molding Machine: Key Players
Arburg GmbH & Co. KG
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Boco Pardubice Machines S.R.O.
Borche North America Inc.
Chen Hsong Holdings Limited
Dongshin Hydraulic Co. Ltd.
Dr. Boy GmbH & Co. KG
Engel Austria GmbH
Fu Chun Shin Machinery Manufacture Co. Ltd.
Haitian International Holdings Limited and Hillenbrand, Inc
Other Prominent Players
Global Plastic Injection Molding Machine: Regions
Global Plastic Injection Molding Machine market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in APAC is expected to hold highest CAGR over the forecasted period. APAC is home to a slew of fast-growing industries, including machinery manufacturing, automotive, and electronics, all of which present chances for manufacturers, hence propelling the market forward.
Global Plastic Injection Molding Machine is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Plastic Injection Molding Machine report also contains analysis on:
Plastic Injection Molding Machine Segments:
By Type
Electric
Hybrid
Hydraulic
By End-User
Automotive
Medical
Consumer goods
Electronics
Others
Plastic Injection Molding Machine Dynamics
Plastic Injection Molding Machine Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Plastic Injection Molding Machine Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 9.1 billion
Revenue forecast in 2030 USD 13.2 billion
Growth Rate CAGR of 4.6% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, end-user and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Arburg GmbH & Co. KG, Boco Pardubice Machines S.R.O., Borche North America Inc., Chen Hsong Holdings Limited, Dongshin Hydraulic Co. Ltd., Dr. Boy GmbH & Co. KG, Engel Austria GmbH, Fu Chun Shin Machinery Manufacture Co. Ltd., Haitian International Holdings Limited and Hillenbrabd, Inc and Other Prominent Players.