Micro Injection Molding Machine Market by Type (0-10 tons, 10-30 tons, and 30-40 tons), Application (Medical, Automotive, Fiber Optics, Electronics), Region (North America, Europe, Asia-Pacific, South America, MEA) - Global Forecast to 2028

Micro Injection Molding Machine Market by Type (0-10 tons, 10-30 tons, and 30-40 tons), Application (Medical, Automotive, Fiber Optics, Electronics), Region (North America, Europe, Asia-Pacific, South America, MEA) - Global Forecast to 2028

The micro injection molding machine market is projected to reach USD 0.7 billion by 2028, at a CAGR of 9.9% from USD 0.5 billion in 2023. The expansion of the automotive industry and the increase in demand for medical applications are the main drivers of this market. The demand for extremely accurate molds that are effective for performing medical procedures is being driven by the shift toward nanotechnology and miniaturization in the medical industry. The growing automation of automobiles and the development of electric cars are also driving up the demand for high-precision parts to improve performance.

“The 30 to 40 tons clamping force segment is the largest type of micro injection molding machine for micro injection molding machine market in 2022.”

Based on clamping force, The segment with a clamping force of 30 to 40 tons held the largest market share in 2022. Based on the tolerances and shot weights needed for the molds, the demand for micro-injection molding machines within this clamping force sector is increased. These machines are often employed in applications for the medical, automotive, electronics, fiber optics, and other sectors. The expanding trend of miniaturization is predicted to raise the need for smaller parts across all industries, which would enhance the need for micro-injection molding machinery. Arburg GmbH & Co KG, Engel Austria GmbH, The Japan Steel Works Ltd, and Sumitomo Heavy Industries Limited are the major manufacturers of micro injection molding machines in this segment.

“Medical is estimated to be the largest application of micro injection molding machine market between 2023 and 2028.”

The need for medical equipment has surged as a result of the global coronavirus outbreak. The demand for medical equipment, such as surgical devices, medical systems, and other medical instruments, surged rapidly as a result of the spike in COVID-19 cases. Micro components are increasingly being used in medical procedures as a result of technical advancements in the field of medicine, which improve patient outcomes overall. Intensified R&D is driving up demand for micro injection molding equipment in the medical industry as well as for medical micro parts.

“Asia Pacific is expected to be the largest micro injection molding machine market during the forecast period, in terms of value.”

China has the largest market for micro injection molding machines in the Asia Pacific. The demand for micro injection molding machines in the area is anticipated to continue growing domestic demand as a result of the quick expansion of manufacturing facilities and other commercial units. It is anticipated that initiatives for new technologies and goods, along with rising population and demand, would turn this region into a potential micro injection molding machine market. The region's automotive and electronics industries will be greatly impacted by the expanding population.

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees is as follows:

By Company Type: Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%

By Designation: C-Level - 21%, Director Level - 23%, and Others - 56%

By Region: North America - 41%, Europe - 30%, Asia Pacific - 18%, South America - 7%, and Middle East & Africa - 4%,

The key market players profiled in the report include Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Nissei Plastic Industrial Co., Ltd. (Japan), Sodick Co., Ltd. (Japan), and Hillenbrand Inc. (US).

Research Coverage

This report segments the market for micro injection molding machines on the basis of type, application, and region and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for micro injection molding machines.

Reasons to buy this report

This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the micro injection molding machine market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (Increased demand for miniaturized products, developments in manufacturing technologies &Growing idea of miniaturization in consumer electronics are driving the growth of the micro injection molding machines market ), restraints (High primary investment & partial market awareness poses a challenge), opportunities (Rising demand in the automotive & healthcare industry & expanding emerging economies ), and challenges (Intricate designs and tooling necessities, substitute technologies) influencing the growth of the micro injection molding machine market

Market Penetration: Comprehensive information on micro injection molding machines offered by top players in the global micro injection molding machine market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the micro injection molding machine market

Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for micro injection molding machines across regions.

Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global micro injection molding machine market

Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the micro injection molding machine market

Impact of COVID-19 on the micro injection molding machine market