North America Plastic Injection Molding Machine Market Size, Share & Trends Analysis Report By Technology (Hydraulic, Hybrid), By End-use (Automotive, Medical), And Segment Forecasts, 2023 - 2030

North America Plastic Injection Molding Machine Market Size, Share & Trends Analysis Report By Technology (Hydraulic, Hybrid), By End-use (Automotive, Medical), And Segment Forecasts, 2023 - 2030

North America Plastic Injection Molding Machine Market Growth & Trends

The North America plastic injection molding machine market size is anticipated to reach USD 2.63 billion by 2030, registering a CAGR of 3.7% over the forecast period, according to a new report by Grand View Research, Inc. The market has grown significantly over the past few years as a result of the growing use of plastic injection molding machines in the packaging, electronics, and automotive industries. Over the next years, this trend is expected to continue. The growing demand for lightweight and durable products, coupled with the increasing adoption from the automotive and packaging industries, is expected to augment the growth of the market.

For instance, in February 2020, Hennecke Inc. entered into a strategic partnership with the FRIMO Group in polyurethane and other plastic applications in the automobile industry. Through this partnership, FRIMO is expected to contribute its systems technology and Hennecke is expected to provide metering and mixhead technology for the automotive sector. The demand for on-the-go packaged goods in the U.S. is expected to rise as a result of consumers’ increasing purchasing power and busy lifestyles, which is expected to benefit the country's packaging business. Over the projected period, it is anticipated that the U.S. packaging sector and growing use of plastic injection-molded packaging items will fuel demand for these goods.

For instance, in March 2021, Milacron launched an all-electric injection molding machine as a part of its FANUC Roboshot ALPHA-SiB series. This machine is offered by Milacron to molders across North America. Key manufacturers in the region are seeking collaborations, mergers, and acquisitions to develop advanced and innovative solutions. In addition, manufacturers are also adopting several strategies like new product development and geographical expansion to enhance their industry penetration and cater to the end-use industries. For instance, in November 2022, Haitian International introduced a new MAIII technology that enhances the precision molding of small home appliances.

The new Mars series incorporates various innovative hardware and software, such as to enable complete closed-loop management of the injection process, a new optimized high-drive servo-hydraulic power system is integrated with sophisticated motion control technology. This improves the injection accuracy resulting in the development of an efficient injection molding machine. In April 2022, Arburg GmbH + Co KG showcased its LSR injection molding and digitalization and additive manufacturing, along with its turnkey system, arburgXworld customer portal, ALS Arburg host computer system, and Freeformer offerings, at the Anaheim Convention Center in California, the U.S.

North America Plastic Injection Molding Machine Market Report Highlights

• The hydraulic technology segment accounted for the highest revenue share in 2022.The automotive industry is expected to have a high demand for hydraulic technology as manufacturing large & heavy parts requires a strong clamping force. In fields like aerospace, defense, and marine, it is frequently used to make heavy parts
• The electric technology segment also accounted for a significant share in 2022. Electric injection molding machines are highly efficient and require less start-up time and run time compared to hydraulic injection molding machines
• In addition, factors, such as quiet operation, energy savings from 30 to 70%, less wastage of material, and low requirements of power are expected to have a positive impact on the demand for electric injection molding machines
• The medical end-use segment is projected to register the fastest CAGR from 2023 to 2030 due to constant technological developments, demand for medical disposables, and rising plastics consumption in healthcare applications
• U.S. accounted for the maximum share in 2022 due to the presence of a robust automotive industry. Moreover, the presence of advanced processing capabilities, greater R&D endeavors, and availability of a highly-skilled workforce help improve the penetration of EVs in the U.S., thereby supporting segment growth
• The increasing demand for plastic injection molded components in electric and conventional vehicles for exterior and interior parts will boost market growth in the U.S.