Plastic Injection Molding Machine Market: Segmented by Type (Electric, Hybrid and Hydraulic), By End user (Automotive, Medical, Consumer goods, Electronics and Others), and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
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.
A plastic injection molding machine is a machine that is used to inject plastic materials into molds. An injection unit and a clamping unit are the two main components. Plastic injection molding machines make parts by injecting molten material into a mold, 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.
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 the rising need for plastic molds 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 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.
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.
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.
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 the 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.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
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.
|Market size value in 2020
|USD 9.1 billion
|Revenue forecast in 2030
|USD 13.2 billion
|CAGR of 4.6% from 2021 to 2030
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2030
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Type, end-user and Region
|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.
The Plastic Injection Molding Machine Market size was estimated at USD 9.1 billion in 2020 and is expected to reach 13.2 billion by 2030.
Key players: 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
Hydraulic injection molding segment and Automotive segment are anticipated to hold the largest Plastic Injection Molding Machine Market.
Drivers: Cost effectiveness and technical advancements and Awareness regarding energy conservation and high efficiency
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.
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