Injection Molding Machine Market Forecast | 2022-2028

"The injection molding machine market is likely to grow from USD 10.6 billion in 2021 to reach USD 13.58 billion by 2028 at a healthy CAGR of 3.54% during the forecast period".

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Market Dynamics

Introduction

An injection molding machine manufactures plastic, metal, rubber, and ceramic products. It consists of two major parts: an injection and clamping units.  The injection molding machine melts the material to be injected into the shaping mold, where the molten material cools off and solidifies, taking the shape of the desired component.

Market Drivers

The key factors contributing to the demand for injection molding machines are:

• There is an increasing demand for plastics in the packaging, building & construction, and automotive industries.
• The demand for goods such as processed food and beverages, medications, cars, and electronic devices has grown significantly because of the growing world population. This has fueled the use of plastic, owing to its versatility and capability to be tailored according to specific requirements.

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Segment Analysis

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By Product Type

"Plastic segment held the largest market share of >70% in 2021"

The market is segmented as plastic, rubber, metal, ceramic, and others. The plastic segment held the largest market share of >70% in 2021 and is expected to remain dominant during the forecast period, driven by its properties such as chemical resistivity and flexibility. The surge in demand from automotive, consumer goods, and packaging end-use industries drives the claim for plastic injection molding machines. Metal segment is estimated to register a CAGR of nearly >4. % during the forecast period

By Machine Type

"Hydraulic segment captured the largest market share of > 45% in 2021"

The market is segmented as hydraulic, all-electric, and hybrid. The hydraulic segment captured the largest market share of > 45% in 2021 and is estimated to maintain its legacy during the forecast period on account of its long service period, enhanced performance, and reduced maintenance costs.

By End-Use Industry Type

 "Automotive and consumer goods are the major segments with a market share of >35% in 2021"

The market is segmented as automotive, consumer goods, packaging, healthcare, electrical & electronics, and others. Automotive and consumer goods are the major segments with a market share of >35% in 2021. An increase in the use of injection molding machines in manufacturing automotive components and consumer goods products drives the market.

By Clamping Force Type

"Above 500-ton force segment held the largest market share in 2021" 

The market is segmented into 0-200-ton force, 201-500-ton force, and above 500-ton force. The above 500-ton force segment held the largest market share in 2021 and is expected to remain dominant during the forecast period owing to the use of more than 500-ton force injection molding machines to manufacture large injection molded parts.

Regional Analysis

"Asia-Pacific is estimated to be the fastest-growing market with a share of >30% in 2021"

Asia-Pacific is estimated to be the fastest-growing market with a share of >30% in 2021, owing to the urban and rural population, rapid pace of urbanization, and foreign investments driving the demand for automotive, consumer goods, and electronics industries. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Key Players

The following are the key players in the Injection Molding Machine Market (arranged alphabetically)

• Arburg GmbH + Co KG
• Chen Hsong Holdings Limited
• Engel Austria GmbH
• Haitian International
• Husky Injection Molding Systems Ltd.
• Milacron
• Nissei Plastic Industrial Co., Ltd.
• Sumitomo Heavy Industries
• The Japan Steel Works, Ltd.
• Ved Machinery.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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