Injection Molding Machine Market Size, Growth Opportunities, Revenue Share Analysis, and Forecast to 2030
The global Injection
Molding Machine market is forecast to reach USD 23.31 Billion by 2030,
according to a new report by Reports and Data. It is expected that the superior
structural properties of injection molding machine, growth & modernization,
and increased demand from existing and emerging applications would boost demand
for the machine globally. The growing demand for injection-molded plastic
products is expected to drive the adoption of molding machines for injection.
Also, it is anticipated that increased focus on the use of energy-efficient
devices would propel the growth of the global injection molding machine market.
Besides, it is estimated that the development of the hybrid machine and the
surge in the use of all-electric machines will fuel global market growth over
the coming years. Growing information about energy saving also propels the
market growth. Moreover, higher production levels and rapid production by
injection molding are expected to cater for growth in the industry.
The injection molding machine provides enhanced precision in
manufacturing products, improved durability, and a high level of process energy
efficiency, which helps to manufacture a wide range of products. The greater
emphasis of lightweight materials in the automotive industry has projected the
use of plastics in the manufacturing of automotive parts, which will, in turn,
drive the market. Increasing population, rising industrialization, and emerging
technologies have created a demand for the automobile in developing economies.
High injection molding machines prices and high tooling
costs, however, impede the market growth. Alternatively, technical advancements
and innovations in architecture deliver lucrative business opportunities.
The COVID-19 impact:
The Injection Molding Machine industry has suffered some impact but maintained
a relatively positive performance; analysts believe that the size of the market
will be further expanded in the next few years. The pandemic's debilitating
effect has negatively impacted production and demand, established supply chain,
and market disruption. Its economic impact on companies and financial markets
is also not favorable. Stock market volatility and decreasingglobal growth are
anticipated, which will affect the sale for Injection Molding Machine.
Receive a sample copy of the global Injection Molding Machine
market report, visit @ https://www.reportsanddata.com/sample-enquiry-form/3144
Key participants include Sumitomo
(SHI) Demag Plastics Machinery GmbH, Arburg GmbH + Co KG, Chen Hsong Holdings
Ltd., Husky Injection Molding Systems Ltd., Haitian International Holdings
Ltd., Milacron, Nissel Plastic Industrial Co. Ltd., ENGEL Austria GmbH, Japan
Steel Works Limited, and Toyo Machinery & Metal Co. Ltd., among others.
Further key findings from the report
suggest
- The rapid
urbanization, rising government spending on packaged goods, and the surge
in e-commerce and integrated retailing boost the growth of the packaging
industry. The competitive environment between manufacturers has resulted
in the adoption of various packaging types. This drives the market and is
anticipated to grow further with a CAGR of 3.7%.
- The
Asia Pacific emerged as the leading market. The growing demand from the
automotive sector, mainly due to the rising need for lightweight vehicles
along with the numbers of domestic manufacturers in the region assisted by
government guidelines, will drive growth in the market.
- North
America follows APAC in terms of market share, and the automobile segment
dominated the market. The region has excellent growth potential in the
forecasted period and is expected to grow from 2019 to 2030 at an
estimated 3.8% CAGR.
- The
U.S., because of its highly developed technology industries, advanced
processing capabilities, combined with a highly skilled workforce and
growing R&D initiatives, is among the leading countries in the market
for injection molding machines. Developing applications and strong demand
encourage producers to concentrate on new technologies to expand the
market.
To know
more about the report @ https://www.reportsanddata.com/report-detail/injection-molding-machine-market
For the purpose of this report, Reports and Data have
segmented into the global Injection Molding Machine market on the basis of
material, technology, application, and region:
Material Outlook (Revenue, USD Billion; 2019–2030)
- Plastic
- Metal
Technology Outlook (Revenue, USD Billion; 2019–2030)
- Hydraulic
- Electric
- Hybrid
Application Outlook (Revenue, USD Billion; 2019–2030)
- Automotive
- Consumer
Goods
- Packaging
- Electronics
- Others
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