Plastic Injection Molding Machine Market Analysis and Forecast to 2032: By Machine Type (All-Electric, Hydraulic, and Hybrid), Clamping Force (Less Than 200 Tons, 200-500 Tons, and More Than 500 Tons), Application (Automotive, Packaging, Electronics, Heal

Plastic Injection Molding Machine Market Analysis and Forecast to 2032: By Machine Type (All-Electric, Hydraulic, and Hybrid), Clamping Force (Less Than 200 Tons, 200-500 Tons, and More Than 500 Tons), Application (Automotive, Packaging, Electronics, Healthcare, Consumer Goods, and Others), Solution (New Sales and Aftermarket), and Region

The global plastic injection molding machine market size was $10.3 billion in 2021 and is anticipated to reach $16.4 billion in 2031, growing at a rate of 4.8% from 2022 to 2031.

A plastic injection molding machine produces a variety of complex plastic products in mass volume. They are available in various sizes and specifications, thus making them appropriate for use in several manufacturing industries. They are used to produce plastic injection-molded products for industries such as food, beverages, electronics & electrical, home care products, healthcare products, and others.

Plastic Injection Molding Machine Market Scope and Structure Analysis

Global Plastic Injection Molding Machine Market Trends and Drivers

The global plastic injection molding machine market is anticipated to observe substantial growth going forward on account of increasing application in food & beverage, healthcare, and other industries. In addition, the rise in population along with the growing disposable income of middle-class customers are projected to drive the demand for healthcare and personal care products. This, in turn, is anticipated to lead to a consequent increase in demand for plastic injection-molded plastic products and thus, the plastic injection molding machines market. In addition, emerging economies are exploring the varied benefits of electric plastic injection molding machines, which are projected to supplement the plastic injection molding machine market demand.

There has been a growth in the plastic injection molding machine market growth, due to its advantages such as the lessened need for labor, high production rate, as well as reduced wastage. Moreover, the capability of the plastic injection molding machine to work with a variety of plastics further intensifies its usability. Moreover, governments globally are focusing on the development of the manufacturing sector in order to increase the global economy. For example, the ‘Made in China 2025’ initiative by the Chinese government and the ‘Make in India’ initiative by the Indian government have positively propelled the manufacturing sector. The upsurge in manufacturing activities has stimulated the demand for a variety of plastic components as well as packaging solutions, thus providing remunerative opportunities for the plastic injection molding machine market. Moreover, technological progressions are expected to offer lucrative opportunities for plastic injection molding machine industry market players.

Global Plastic Injection Molding Machine Market Restraints & Challenges

One of the major factors hindering the global plastic injection molding machine market growth is the stringent regulations for the usage of plastics on account of concerns regarding increased packaging and consequent recyclability issues. Further, the fluctuating raw material prices are also anticipated to hinder the growth of the market. In addition, the other concern & risk associated with the market is the high initial cost of the machine. All-electric plastic injection molding machine has short plastic injection times owing to dynamic servo-motors, production efficiency, greater repeatability, best acceleration performance, and reduced noise. Due to the presence of high technology in all-electric machines, the initial cost of the machine is high. The other disadvantage is the huge maintenance in case of waste. When a motor fails, the complete machine must be changed, which necessitates substantially high maintenance costs.

Global Plastic Injection Molding Machine Market Segmentation

The report analyses the plastic injection molding machine market based on machine type, clamping force, application, solution, and region.

Global Plastic Injection Molding Machine Market By Machine type

Based on machine type, the global plastic injection molding machine market has been bifurcated into all-electric, hydraulic, and hybrid. The hydraulic segment is anticipated to account for the largest plastic injection molding machine market share in 2021, and all-electric is expected to be the fastest-growing segment during the forecast period.

The all-electric plastic injection molding machine uses electric motor powering racks, gears, and ball screws to perform most of the functions of the machine. All-electric plastic injection molding machines can conserve nearly 50–70% energy in comparison to hydraulic machines. In addition, currently, all-electric machines are the most preferred type of machine owing to decreased housekeeping, lower use of chilled water, preventive maintenance, lower repair rate, along with lesser energy and oil consumption. Therefore, the all-electric plastic injection molding machine segment is the fastest-growing segment throughout the study period.

Global Plastic Injection Molding Machine Market By Clamping force

By clamping force, it is divided into less than 200 tons, 200-500 tons, and more than 500 tons. The more than 500 tons segment is expected to hold a significant share of the market due to the rise in the use of plastic injection molding machines in packaging as well as the automotive industry globally. In addition, there has been an increase in demand for efficient and reliable plastic injection molding machines in several regions globally. Further, factors such as sustainability concerns, product modernization, and attractive economics are leading to the growth of more than 500 tons of plastic injection molding machines industry.

Global Plastic Injection Molding Machine Market By Application

By application, it is categorized into automotive, electronics, healthcare, packaging, and others. The automotive segment contributed significant revenue to the plastic injection molding machine market in 2021. These machines provide a feasible solution for manufacturing large and high-quality automobile parts in abundance. This sector where consistency, quality, and safety are of major significance considers injection molding machines a preferred choice. In addition, this machine is widely used in the automotive industry owing to its capability to create identical parts in mass quantity with relatively low operating costs.

Global Plastic Injection Molding Machine Market By Solution

By solution, it is categorized into new sales and aftermarket sales. The aftermarket sales segment is expected to exhibit a significant growth rate during the study period. Aftermarket sales involve accessories, spare parts, and other components used in repair and maintenance services for the injection molding machinery industry. A rise in the use of conditioning monitoring, analysis, and optimization is likely to offer plastic injection molding machine market growth. Further, as this machinery requires huge capital for its procurement, hence, the growth rate of new sales of this machine is low as compared to aftermarket sales.

Geographical Analysis of Global Plastic Injection Molding Machine Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific accounts for the largest market share in the plastic injection molding machine market and is forecasted to register the fastest CAGR from 2022 to 2031. Factors such as rapid development in the automotive and packaging industries, along with the growing demand for effective and advanced plastic injection molding machines are anticipated to propel the growth of the Asia-Pacific plastic injection molding machine market. Besides, the presence of numerous medium-to-large players in the region is also attributable to rapid revenue growth.

Major Players of the Global Plastic Injection Molding Machine Market

The global plastic injection molding machine market report includes players such as ARBURG, ENGEL, Haitian International, Husky Injection Molding Systems, KraussMaffei Group, Milacron Holdings Corp., Nissei Plastic Industrial Co., Ltd., Sumitomo Heavy Industries, The Japan Steel Works, and UBE Industries, Ltd.

COVID-19 Analysis:

According to the International Monetary Fund (IMF), due to the epidemic of a novel coronavirus, the worldwide economy decreased by over 3.0% in 2020. Several nations were under strict lockdowns in 2020 & 2021, which have impacted the supply of raw materials. Therefore, due to this, the manufacturing activities of plastic film producers have ceased. However, due to COVID-19, there has been a new interest found in the hygiene of the packaging due to heightened safety concerns. Moreover, the period observed an e-commerce boom, thus, augmenting the necessity for well-designed as well as functional plastic injection molding machines which are hygienic and sustainable. Hence, COVID-19 had a mixed effect on the plastic injection molding machine market growth during the forecast period.

 Recent Developments

In December 2021, Nissei ASB Machine Co. Ltd. and Shibaura Machine Co. Ltd. entered into a partnership to work in emerging markets.

In May 2021, Boddingtons, a medical device manufacturer invested in 5 new injection molding machines to fulfill the demand from a new OEM client in the pharmaceutical sector.

In March 2021, Milacron, a global leader in industrial technology introduced a new all-electric offering via the FANUC Roboshot ALPHA-SiB series in North America.

In November 2020, Nissei Plastic introduced a large TWX300RIII36V type vertical injection molding machine to the market.

In October 2020, ENGEL has launched state-of-the-art all-electric e-mac injection molding machine series. This series is more compact and offers maximum flexibility for individual customer requirements.

Plastic Injection Molding Machine Market Report Coverage

The report offers a comprehensive quantitative as well as qualitative analysis of the current global plastic injection molding machine market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.

A thorough analysis of market trends and restraints is provided.

Region-wise, as well as country-wise conditions, are broadly evaluated in this report.

The forecasts in this report are made by examining the recent trends along with future plastic injection molding machine market potential from 2021 to 2031 in terms of revenue.

Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the plastic injection molding machine market are also analyzed.

Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global plastic injection molding machine industry.

Frequently Asked Questions

Q. How big is the plastic injection molding machine market?

Ans. The global plastic injection molding machine market size was $10.3 billion in 2021 and is anticipated to reach $16.4 billion in 2031, growing at a rate of 4.8% from 2022 to 2031.

Q. What is the plastic injection molding machine market growth rate?

Ans. The growth rate of the plastic injection molding machine market is 4.8% from 2022 to 2031.

Q. Which region holds a major market share for the plastic injection molding machine market?

Ans. The Asia-Pacific region holds a major market share of the plastic injection molding machine market in 2021.

Q. Which segment accounted for the largest plastic injection molding machine market share?

Ans. By solution, the new sales segment accounted for the largest plastic injection molding machine market share

Q. Who are the key players in the plastic injection molding machine market?

Ans. The key players profiled in the report include ARBURG, ENGEL, Haitian International, Husky Injection Molding Systems, KraussMaffei Group, Milacron Holdings Corp., Nissei Plastic Industrial Co., Ltd., Sumitomo Heavy Industries, The Japan Steel Works, and UBE Industries, Ltd.

Q. What are the factors driving the plastic injection molding machine market growth?

Ans. The major factors driving the growth of the market are the rise in demand for packaged goods along with growth in investments for R&D activities in plastic injection molding machines.

Q. What are the key growth strategies of plastic injection molding machine market players?

Ans. The key growth strategies of plastic injection molding machine market players are product launch and acquisition.

Q. Which region will provide more business opportunities for the plastic injection molding machine market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the plastic injection molding machine market during the forecast period

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