Injection Molding Machinery Market Research Report—Global Forecast till 2027

Injection Molding Machinery Market Research Report: Information by Type (Electric, Hydraulic, and Hybrid Machines), Clamping Force (less than 200 tons force, 200 to 500 tons force, and more than 500 tons force), Material (rubber, metal, plastic, and ceramics), End-Use (automotive, packaging, consumer goods, health care, electricals & electronics), and Region (North America, Asia-Pacific, Europe, South America, and the Middle East & Africa) —Forecast till 2027

ID: MRFR/IA - E/9459-CR | September 2022 | Region: Global | 100 Pages         

Injection Molding Machinery Market

Injection Molding Machinery Market is expected to grow USD 13.42 billion at a CAGR 3.89% during the forecast period 2022-2030

Segmentation

By Type Electric Hydraulic Hybrid Machines
By Clamping Force Less than 200 tons force 200 to 500 tons force more than 500 tons force)
By Material Rubber Metal Plastic Ceramics
By End-Use Automotive Packaging Consumer Goods Health Care Electricals & Electronics

Key Players

  • HAITIAN International (China)
  • SUMITOMO Heavy Industries (Japan)
  • JAPAN Steel Works (Japan)
  • Chen Hsong Holdings (Hong Kong)
  • Hillenbrand Inc (US)
  • Dongshin Hydraulic (South Korea)

Drivers

  • Injection Molding Machinery Market
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The global injection molding machinery market is projected to register a CAGR of 3.89% and reach a value of USD 13.42 billion by 2027.


Injection Molding Machinery Market Overview


Injection molding is a technique used for making parts of various shapes and sizes, having a low wall thickness. Automotive components, containers, plumbing fittings, toys, and containers are a few of the commonly made products from the injection molding process.  Injection molding machines perform the injection molding process, which is generally used to manufacture plastic parts; however, they can also be employed to manufacture products or parts made of various other materials apart from plastic. The injection molding process can be used to manufacture a wide variety of parts or products, which might vary greatly in their structures, dimensions, and end-use applications. 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.


Injection Molding Machinery Market Dynamics


The global injection molding machine market is driven by rising awareness about energy saving and a rise in the adoption of injection molding machines in the packaging industry. However, high initial and maintenance costs of the machines are expected to restrain the global market growth. Nevertheless, the demand for large-tonnage injection molding machines is expected to create a growth opportunity for the injection molding machinery market players.


 Drivers:



  • Rising Awareness About Energy Saving


There is a growing awareness regarding the need for energy saving across the globe, leading to increasing demand for all-electric machines, including electric injection molding machines. All-electric is the fastest-growing type of injection molding machine. The use of electric motors allows for a highly energy-efficient machine as the motors are only actuated when movement is needed. Additionally, the innovative energy recovery system captures kinetic energy, stores it, and this energy can be used to power the machine. The main reasons are its various advantages such as low maintenance without the requirement of oil for cleaning, energy savings, increased precision and reusability and high speed. The all-electric injection molding machines outperform hydraulic machines in terms of cost efficiency, cycle-time savings, efficiency, reliability, and re-usability. They save up to 70% of energy compared to conventional hydraulic machines and operate with digital control systems. Hence, as a result, various components of the electric injection molding machines are mechanically driven.


Restraint:



  • High Initial and Maintenance Costs


Electric injection molding machine offers production efficiency, short injection times due to dynamic servomotors, greater repeatability, reduced noise, and best acceleration performance. Due to the highly advanced technology involved in all-electric machines, the initial investment costs are high. Another disadvantage is the maintenance costs. In case of motor failure, the entire system needs to be changed, which entails extremely high maintenance costs. The determining factors in the cost of mold are a combination of the complexity, material, part size, and anticipated quantities.


Opportunities:



  • Demand For Large-Tonnage Injection Molding Machines


There is a rising demand for large-tonnage injection molding machines, which are used for manufacturing large, molded parts for automotive, appliances, and industrial applications. Previously, owing to plant infrastructure expenses, the demand for injection molding machines was not beyond the 400 tons range, with 500 presses being the maximum limit. Over the years, the demand has changed. There is a high demand for large parts. The ability of machinery manufacturers to build a large energy-efficient machine, which offers fast cycle time has increased. As per the Plastics Industry Association, the shipment of large machines increased significantly compared to small machines. Large injection molding machines provide companies good business opportunities in various markets, including sports, agriculture, and automotive. For instance, Large-tonnage machines have helped Evco Plastics company (DeForest, WI) grow in various markets, including agriculture, lawn & garden, power sports, and automotive industry. These machines lasted a long time and got companies into the 1,000-ton range for their molding operations. Large-part molding means that shipping becomes a key factor, so the companies need to be close to clients in order to minimize the cost of shipping these big parts. Additionally, technological advancements such as IoT-enabled injection molding machines and software-supported injection molding machines are anticipated to present lucrative opportunities for the vendors operating in the global injection molding machine market.


Injection Molding Machinery Market Segment Overview


By Type


By type, the global injection molding machine market is divided into electric, hydraulic, and hybrid machines. The hydraulic segment accounted for the largest market share of 43.69% in 2020 and the electric is expected to register the highest CAGR of 5.31% during the forecast period.


By Clamping Force


Based on clamping force, the global injection molding machine market is divided into less than 200 tons force, 200 to 500 tons force, and more than 500 tons force. The 200-500 tons segment accounted for the largest market share of 55.38% in 2020 whereas the above 500 tons segment is expected to register the highest CAGR of 5.00%.


By Material


Based on material, the injection molding machine market is segmented into rubber, metal, plastic, and ceramics. The Injection Molded Plastics segment accounted for the largest market share of 38.52% in 2020 and it is expected to register the highest CAGR of 5.01% during the forecast period.


By End Use


Based on end use, the global injection molding machine market is used in various industries such as automotive, packaging, consumer goods, health care, electricals & electronics. The automotive segment accounted for the largest market share of 30.54% in 2020 whereas the healthcare segment is expected to register the highest CAGR of 5.64%.


Global injection molding machinery market Share, by Region, 2020 (%)
injection molding machinery market Share, by Region, 2020 (%)
Sources: MRFR Analysis


Injection Molding Machinery Market Regional Analysis


By region, the global injection molding machinery market has been divided into North America, Europe, Asia-Pacific, South America and the Middle East & Africa. Asia-Pacific accounted for the largest market share of 48.59% in 2020, with a market value of USD 4,982.4 million; injection molding machinery market expected to register the highest CAGR of 4.66% during the forecast period.


Asia-Pacific


Asia-Pacific accounted for the largest market share of 48.59% in 2020, with a market value of USD 4,982.4 million; it is expected to register the highest CAGR of 4.66% during the forecast period. Asia-Pacific comprises China, Japan, India, and the Rest of Asia-Pacific. The region is considered as one of the largest contributors to the injection molding machine market across the globe. The development of industries in this region is the key factor promoting the growth of the market. Different manufacturers in this region, mainly in China, and Japan are continuously advancing their products to stay competitive in the global injection molding machinery market. This presents different growth opportunities for the injection molding machine market in Asia-Pacific.


Europe


Europe was the second-largest market in 2020, valued at USD 2,277.1 million; it is projected to exhibit a CAGR of 3.27%. Europe comprises the countries such as Germany, France, the UK, Italy, and the rest of Europe. The region is one of the largest markets for injection molding machine due to the development in the automotive sector. The rising demand from the electric vehicle market is further propelling the growth in the region. Furthermore, the presence of different players such as KraussMaffei, ARBURG, and ENGEL AUSTRIA GmbH manufacturing companies are significantly adopting advanced technologies to enhance their business operations. The key factor fueling the demand for injection molding machine is the growing packaging industry in Europe.


Injection Molding Machinery Market Competitive Landscape


The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach and diverse product portfolios. Companies such HAITIAN International (China), SUMITOMO Heavy Industries (Japan), JAPAN Steel Works (Japan), Chen Hsong Holdings (Hong Kong), Hillenbrand Inc.(US), Dongshin Hydraulic (South Korea), dominate the global market due to brand reputation, product differentiation, financial stability, and diversified regional presence.


Prominent players in the global injection molding machinery market include HAITIAN International (China), SUMITOMO Heavy Industries (Japan), JAPAN Steel Works (Japan), Chen Hsong Holdings (Hong Kong), Hillenbrand Inc. (US), Dongshin Hydraulic (South Korea), Engel Austria GmbH (Austria), NISSEI Plastic Industrial Co.Ltd. (Japan), Arburg (Germany), and Husky Injection Molding Systems Ltd. (Canada).


Recent Developments


Few developments that occurred in recent times influencing the growth of injection molding machinery market are listed below:



  • January 2021, ARBURG acquired AMK Arnold Müller GmbH & Co. KG and with it the company’s Drives & Automation division. The company will operate under the new name of AMKmotion GmbH + Co KG in the future. Furthermore, this combined effort has contributed significantly to the success story of the electric ALLROUNDER injection moulding machines.


Injection Molding Machinery Market Scope of the Report


Global Injection molding machinery Market, by Type



  • Electric

  • Hydraulic

  • Hybrid Machines


Global Injection molding machinery Market, by Clamping Force



  • less than 200 tons force

  • 200 to 500 tons force

  • more than 500 tons force


Global Injection molding machinery Market, by Material



  • Rubber

  • Metal

  • Plastic

  • Ceramics


Global Injection molding machinery Market, by End Use



  • Automotive

  • Packaging

  • Consumer goods

  • Health care

  • Electricals & electronics


Global Injection molding machinery Market, by Region



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • UK

    • Germany

    • France

    • Spain

    • Italy

    • Belgium

    • Rest of Europe



  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • Malaysia

    • Indonesia

    • Thailand

    • Rest of Asia-Pacific



  • South America

    • Brazil

    • Argentina

    • Rest of South America



  • Middle East & Africa

    • GCC Countries

    • South Africa

    • Rest of Middle East & Africa




Intended Audience



  • Pharmaceutical and healthcare Industry

  • Government and Private Hospitals, Labs

  • Blood donation and other Camps

  • Electrical Industry



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 13.42 billion
  CAGR   3.89%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Clamping Force, Material, End-Use
  Geographies Covered   North America, Europe, Aisa Pacific
  Key Vendors   HAITIAN International (China), SUMITOMO Heavy Industries (Japan), JAPAN Steel Works (Japan), Chen Hsong Holdings (Hong Kong), Hillenbrand Inc.(US), Dongshin Hydraulic (South Korea)
  Key Market Opportunities   Demand For Large-Tonnage Injection Molding Machines
  Key Market Drivers   Rising Awareness About Energy Saving


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