Global Injection Molding Machines Market Is Expected to Reach $14.41 Billion by 2027: Says AMR

5 May 2021

Portland, OR, May 05, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global injection molding machines market was estimated at $10.89 billion in 2019 and is expected to hit $14.41 billion by 2027, registering a CAGR of 5.7% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Low labor cost and massive production advantage, high demand for injection molded plastic products, material flexibility, and low waste production are the major factors fueling the growth of the global injection molding machines market. On the other hand, high initial tooling and machinery cost, high threat of substitutes, and design restrictions on parts impede the growth to some extent. However, technological advancements present new opportunities in the coming years. 

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Covid-19 scenarios-

  • The outbreak of covid-19 led to delays in manufacturing and production of injection molding machines, thereby impacting the market negatively. Also, there’s been a dwindled demand for the machines from the construction, automotive, packaging, and logistics industries
  • However, several government bodies have initiated vaccination drives, and with this drift on board, the market is expected to recoup soon.

The injection molding machines market is analyzed across clamping force, machine type, solution, pressure type, application, and region. On the basis of machine type, the hydraulic segment accounted for more than two-fifths of the total market share in 2019 and is estimated to maintain its lead position by 2027. The all-electric segment, on the other hand, would exhibit the fastest CAGR of 6.3% from 2020 to 2027.

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On the basis of application, the automotive segment contributed to around one-fourth of the total market revenue in 2019, and is expected to dominate throughout the forecast period. Simultaneously, the packaging segment would exhibit the fastest CAGR of 6.9% from 2020 to 2027.

Based on region, Asia-Pacific garnered nearly half of the global injection molding machines market, and is expected to lead the trail by 2027. At the same time, the region across LAMEA would witness the fastest CAGR of 6.9% throughout the forecast period.

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Key Players:

The key market players analyzed in the global injection molding machines market report include ENGEL, Haitian International, Husky Injection Molding Systems, KraussMaffei Group, Milacron Holdings Corp., ARBURG,  Sumitomo Heavy Industries, The Japan Steel Works, Ube Industries, Ltd., BMB S.P.A., Nissei Plastic Industrial Co., Ltd., Shibaura Machine Co. Ltd., and Nigon. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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