INJECTION MOLDING MACHINE MARKET TO REACH USD 20.5 BILLION BY 2024 | CAGR 4.1% – FORENCIS RESEARCH

Injection Molding Machine Market Size, Share, Trends, Growth, Analysis, Research

Global Injection Molding Machine Market: Key Highlights

  • According to the new market research report Injection Molding Machine Market by Type (Hydraulic, Mechanical), by Injection Molding Material (Polymers, Metals), by Application (Packaging, Electronics, Consumer Goods, Automotive), by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2017 to 2024 the global Injection Molding Machine market is estimated to reach USD 20.5 Billion by 2024 at a CAGR of around 4.1% during the review period.
  • Injection molding is the technique used for manufacturing various parts through introducing or injecting the molten material into the mold. This is also known as injection press, carries out the injection molding process.
  •  It is capable of producing bottle caps, automotive parts, industrial components, toys, musical instruments, medical components, and storage containers among others.
  • Rising demand from healthcare sectors, owing to the increasing disease prevalence has expected to surge the demand for injection molding machine from the sector

Injection Molding Machine Market

Global Injection Molding Machine Market: Key Market Dynamics

  • Technological advancement in injection molding machine for production and molding of plastic coupled with growing plastic demand across the globe which may attribute the demand for market
  • Growing packaging sector owing to the sustainable packaging has expected to surge the demand for product market
  • High set up and maintenance cost associated with injection molding machine may hamper the growth of product market

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Global Injection Molding Machine Market: Regional Overview

  • North America

The injection molding machine market in the North America region is projected to witness high demand due the well-established manufacturing companies. Most leading manufacturers export in the region has expected to boost the product demand. Demand from import of machinery is majorly driven by automotive industry, owing to inclination towards producing advanced and aesthetically improved products.

  • Asia-Pacific

Asia-Pacific is expected to dominate the injection molding machine market owing to the rapid industrialization and urbanization. Growing urban and rural population, rapid pace of urbanization, and foreign investments have propelled regional demand for automotive, consumer goods, and electronics industries. China, India, and Taiwan are among the largest regional markets anticipated to influence the global injection molding industry during the forecast period.

Global Injection Molding Machine Market: Key Players Overview

  • Haitian International Holdings Limited:

Haitian International Holdings Limited is one of the leading manufacturers for plastic injection molding machine. The company has around 60 sales and services including 9 locations for assembling and logistics. In 2019, the company generated revenue of USD 1.4 million and was 9.6% decrease than previous year owing to the outbreak of COVID-19 pandemic. In May 2019, the company announced to expand the manufacturing plant in Mexico with an aim to extend its manufacturing capacities.

  • NISSEI PLASTIC INDUSTRIAL CO., LTD.:

NISSEI PLASTIC INDUSTRIAL CO., LTD. is engaged in development, manufacture and sales of injection molding machines, molds, auto-molding systems, and measuring instruments, and other business segments.  In Nov 2019, Nissei Plastic Industrial Co., Ltd. acquired a majority stake in Negri Bossi S.p.A. to expand and strengthen its business domain in injection molding machine.

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Rep Id : CM 032

Published : 2020-01-21

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