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The injection molding machine market is projected to reach USD 12.4 billion by 2027, at a CAGR of 3.6% from USD 10.4 billion in 2022
Plastic molds are used extensively in the healthcare industry. For production, injection molding equipment is preferred because it produces parts with a high degree of precision, accuracy, and complexity at a low cost.
New York, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Injection Molding Machine Market by Machine Type, Clamping Force, Product Type, End-Use Industry and Region - Global Forecast to 2027" - https://www.reportlinker.com/p03884069/?utm_source=GNW
Surgical and medical devices: Syringes, vials, medical instruments, inhalers, lab consumables, plastic implants, cannulated, medicinal connectors, air systems, and prescription bottles can all be produced using these machines. The global coronavirus outbreak has brought attention to the healthcare industry. The need for medical equipment like syringes, air systems, and other medical tools increased enormously due to the explosive surge in the number of Covid-19 cases. China and India became the manufacturing centers for the demand for all such equipments worldwide.
201-500 Tons Force is projected to grow at highest CAGR, by clamping force, during the forecast period
The 201–500 ton-force segment accounted for the largest market share in terms of value, in 2021 and is projected to register the highest CAGR during the forecast period.This high growth is because of the rising demand for medium-sized molded parts from prominent end-use industries such as automotive, packaging, consumer goods, and electrical & electronics.
Medium-sized injection molding machines are mainly machines with a clamping force of 201–500 tons force.Machine types such as hydraulic, all-electric, and hybrid are all available in 201–500 ton-force.
These machines are mainly used for medium-sized molded parts which are used in applications for automotive, packaging, and consumer goods industries.
Plastic product type is projected to grow at highest CAGR, during the forecast period
The injection molding machine market for plastic products accounted for the largest in terms of value, in 2021.Injection molding is the manufacturing process for the production of plastic parts from thermoplastics and thermosetting materials with accuracy and low waste in a short time duration.
Most commonly used plastic in the injection molding process are polypropylene, polystyrene, polyethylene, polycarbonate, ABS, nylon, and unsaturated aliphatic polyesters.Plastic products, which are manufactured using injection molding machines are of usually high-quality raw materials that ensures their superior quality.
The injection molding process for plastic products involves feeding and heating the polymer then compressing using pressure to force it into the mold.This process is very fast and complicated.
In spite of expensive tooling costs, injection molding is the most favored manufacturing process for the mass production of plastic materials. Injection molding machines are used to produce various plastic products in day-to-day life such as bottles, chairs, telephone handsets, electrical switches, car bumpers, dashboards, syringes, disposable razors, and toys.
Hydraulic injection molding machine is the largest machine type for injection molding machine market in 2021
Hydraulic injection molding machine is the most popular machine type, mainly because of its long service life and wide range of applications in automotive, packaging, and consumer goods.The variable-volume pump and a fixed-speed, three-phase motor make up the hydraulic injection molding machine.
Hydraulic injection molding machines have a long lifespan, a great drive distance, and fewer maintenance requirements.The production cycle time is significantly shortened with the aid of this kind of machine.
For large molding parts mainly the high-tonnage hydraulic machine is used. This machine is mostly used for manufacturing high-precision plastic components such as consumer goods, electrical & electronics goods, automotive parts, caps & closers, and medical supplies.
Europe was the second-largest injection molding machine market, in terms of value and volume, in 2021
The stringent emission regulations in Europe are driving the demand for injection molding machines in the automotive end-use industry.Euro 6 norms are being followed by the members of the European Union, which will have a knock-on effect on the reduction of pollutants such as nitrogen oxide and carbon monoxide as well as CO2 emission levels while improving fuel economy.
The lightweight material manufacturers and suppliers are investing heavily in R&D to create advanced lightweight materials as well as meet the required regulations. This has also resulted in optimizing engine performance and efficiency through weight reduction.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
• By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
• By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
• By Region: North America - 32%, Europe - 21%, APAC - 28%, South America and Middle East & Africa - 19%,
The key market players profiled in the report include Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Hillenbrand, Inc. (US), and others. They are continuously undertaking developmental strategies such as expansions, new product launches, acquisitions, and contracts & agreements to strengthen their position in the injection molding machine market.
Research Coverage
This report segments the market for injection molding machine market on the basis of machine type, clamping force, product type, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for injection molding machine market.
Reasons to buy this report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the injection molding machine market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on injection molding machine market offered by top players in the global injection molding machine market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the injection molding machine market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for injection molding machine market across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global injection molding machine market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the injection molding machine market
• Impact of COVID-19 on injection molding machine market
Read the full report: https://www.reportlinker.com/p03884069/?utm_source=GNW
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