Pune, Oct. 29, 2020 (GLOBE NEWSWIRE) -- The global injection molding machine market size is projected to reach USD 20.49 billion by 2027, exhibiting a CAGR of 4.1% during the forecast period. Advent of smart manufacturing technologies will generate numerous innovation opportunities in this market, shares Fortune Business Insights™ in its report, titled “Injection Molding Machine Market Size, Share and COVID-19 Impact Analysis, By Product Type (Plastic, Metal, Rubber, Ceramic, Others), By Machine Type (Electric, Hydraulic, and Hybrid), By Clamping Force (0 - 200 Ton Force, 201 - 500 Ton Force, and Above 500 Ton Force), By End-use Industry (Packaging, Automotive, Electronics and Telecommunication, Healthcare, Infrastructure, Others) and Regional Forecast, 2020-2027”.
New-age, smart technologies powered by artificial intelligence (AI) and the Internet of Things (IoT) have revolutionized manufacturing processes. For example, in the injection molding domain, machines and equipment are embedded with sensors that collect and transmit data to a central system, where they are analyzed. The key feature of these technologies is that they eliminate the need for human intervention. Injection molding machines are widely utilized in manufacturing essential items made from plastics and metals. With the integration of AI and IoT, these machines can work at higher efficiencies compared to their conventional counterparts and this factor is expected to create wide-ranging opportunities for players in this market.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
The report states that the global market value stood at USD 15.39 billion in 2019 and offers the following:
- Holistic understanding of the market drivers, trends, and restraints;
- Microscopic examination of the all possible market segments;
- In-depth evaluation of the regional dynamics influencing the market; and
- Tangible insights into the key players’ profiles and strategies.
Declining Manufacturing Activities amid COVID-19 to Limit Market Growth
The outbreak of the COVID-19 pandemic has unprecedented uncertainty across industries, hampering investments in new technologies and creation of employment. The injection molding machine market growth is likely to get impacted as well owing to the reduced labor force working in manufacturing plants amid the pandemic. In India, for example, the sudden lockdown announced in March 2020 to contain the spread of the infection forced a huge number of migrant workers, most of who are employed in the country’s burgeoning small and medium enterprise (SME) sector, to leave for their native places. In the US, to take another example, a survey conducted by the National Association of Manufacturers revealed that 53.1% of manufacturers foresee changes in production operations, while 35.5% have been facing issues due to supply chain disruptions. The uptick for this market is the surging demand for plastic medical devices, which are extensively manufactured by injection molding machines. Thus, the demand for these machines from the medical device industry may offset the losses from other industries to a limited extent for players in this market.
Asia Pacific to Hold Lion’s Share Backed by Strong Industrial Growth
At USD 6.01 billion, Asia Pacific dictated the injection molding machine market share in 2019 and is predicted to maintain its dominant position during the forecast period. This will mainly be a result of robust growth of industries in the region, especially in the SME sector in countries such as India, China, and Vietnam. In addition, government policies supporting manufacturing activities will further encourage innovation and entrepreneurship in the region, benefiting the market in general.
In North America, quick adoption of advanced manufacturing equipment and technologies to compensate the lack of labor will favor the market in the region. In Europe, on the other hand, manufacturers are facing major hurdles in the form of stringent environmental regulations, which is dampening the regional prospects of the market.
Leading Players to Concentrate on Developing Cost-Effective Molding Equipment
Key players in this market are constantly engaged in developing injection molding machines that are cost-effective and energy-efficient. By offering future-proof solutions to end-users, these companies are able to broaden and deepen their presence in the market and expand their operations globally.
- September 2020: Engel Austria announced the inclusion of the new e-mac 130, which has a clamping force of 1300kN, in its all-electric injection molding machine suite. The new addition will allow the company to entrench its position as the leading supplier of electric injection molding solutions.
- September 2019: Milacron Holdings showcased its Advanced Plastic Processing Technologies at K 2019, the world’s biggest plastics trade fair, held in Dusseldorf, Germany. Milacron’s product display included CIMCOOL, TIRAD, DME, and Mold-Masters.
List of Key Companies Profiled in this Market Report:
- ELECTRONICA PLASTIC MACHINES LIMITED (Maharashtra, India)
- Engel Austria GmbH (Schwartzberg, Austria)
- NISSEI AMERICA, INC. (California, United States)
- Sumitomo Heavy Industries, Ltd. (Tokyo, Japan)
- Milacron Holdings Corp. (Ohio, United States)
- Haitian International (Ningbo, China)
- Ved Machinery (Maharashtra, India)
- Husky Injection Molding Systems Ltd. (Caledon, Canada)
- Arburg GmbH + Co KG (Loßburg, Germany)
- Japan Steel Works, Ltd. (Tokyo, Japan)
- Chen Hsong Holdings Limited (Tai Po, Hong Kong)
Major Table of Contents:
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
3.3.1. Short-term Impact
3.3.2. Long-term Impact
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Porter’s Five Force Analysis
4.4. Global Injection Molding Machine Market Share Analysis and Matrix, 2019
5. Key Market Insights and Analysis, By Segments
6. Global Injection Molding Machine Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
6.1. Market Sizing Estimations and Forecasts – By Product Type (Value)
6.2. Market Sizing Estimations and Forecasts – By Machine Type (Value)
6.3. Market Sizing Estimations and Forecasts – By Clamping Force (Value)
6.3.1. 0 - 200 Ton Force
6.3.2. 201 - 500 Ton Force
6.3.3. Above 500 Ton Force
6.4. Market Sizing Estimations and Forecasts – By End-use Industry (Value)
6.4.3. Electronics & Telecommunication
6.4.6. Others (Consumer Goods, etc.)
6.5. Market Analysis, Insights and Forecast – By Region (Value)
6.5.1. North America
6.5.3. Asia Pacific
6.5.4. Middle East & Africa
6.5.5. Latin America
7. North America Injection Molding Machine Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
7.1. Market Sizing Estimations and Forecasts – By Product Type (Value)
Quick Buy – Injection Molding Machine Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101389
Have a Look at Related Research Insights:
Automatic Labelling Machine Market Size, Share & Industry Analysis, By Type (Self Adhesive/Pressure Sensitive, Shrink Sleeves and Glue Based), By Configuration (Stand Alone and Integrated), By Industry (Food & Beverage, Healthcare & Pharmaceuticals, Consumer Goods and Others) and Regional Forecast, 2019-2026
Baggage Handling System Market Size, Share & Industry Analysis, By Type (Destination coded vehicle (DCV), Conveyor), By Technology (Radio-Frequency Identification (RFID), Barcode), By Application (Airport, Railway, Marine), and Regional Forecast, 2020-2027
Metal Cutting Machine Tools Market Size, Share & Industry Analysis, By Product (Machining Centers, Lathe Machines, Boring Machines, Grinding Machines, Milling Machines, Others), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others), and Regional Forecast, 2019-2026
Automated Material Handling (AMH) Equipment Market Size, Share & Industry Analysis, By Type (Automated Storage & Retrieval System, Automated Conveyor & Sorting System, Automated Guided Vehicle), By System Load (Unit Load & Bulk Load), By Application (Assembly, Distribution, Transportation, Packaging), By Industry (Retail & E-commerce, Automotive, Pharmaceutical, Aviation, Semiconductors & Electronics) and Regional Forecast, 2019-2026
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune - 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Press Release: https://www.fortunebusinessinsights.com/press-release/injection-molding-machines-market-9268