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Injection Molding Machine Market 2024 - Share, Current Trends, Opportunities, Growth Size, and Forecast until 2033
Injection Molding Machine Market
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, 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, shift towards electric machines, demand for high-speed and high-pressure machines, sustainability and energy efficiency..
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.
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The Surging Electronics Industry And The Injection Molding Machine Market
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.
Competitive Landscape -
Major companies operating in the injection molding machine market report are 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., Sodi*ck Co Ltd., Yizumi Precision Machinery Co Ltd., Cincinnati Milacron, WINTEC Co. Ltd, IKS PVD Technology (Shenyang) Co Ltd
Technological Advancements Driving Innovation In The Injection Molding Machine Market
Technological advancements are a key trend gaining popularity in the injection molding machine market. Major companies operating in the injection molding machine market are adopting new technologies to sustain their position in the market. For instance, in April 2022, LS Mtron Ltd., a South Korea-based manufacturer of medical products launched the latest artificial intelligence (AI)-based smart injection molding system. It is equipped with two technological features 'AI Molding Assistant' and 'Smart Weight Control'. The AI molding assistant enables a reduction in time and stabilizes the initial molding setup process whereas the smart weight control is integrated with the software of the injection molding machine that helps in the detection of weight changes in products.
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Key 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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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