Injection Moulding Machines Market to Reach $22.32 Billion, Globally, by 2025 at 4.7% CAGR
Low labor costs, advantage of bulk production, material flexibility, and low waste production drive the growth in the market. However, high machinery & tooling costs, threat of substitutes, and restrictions on designing of parts restrain the market growth. On the other hand, technological innovations create new pathways in the industry.
All-electric is a lucrative segment
Based on machine type, all-electric accounted for more than two-fifths of the total market share in 2017 and is expected to maintain its dominance throughout the forecast period. This segment is also estimated to register the highest CAGR of 5.2% from 2018 to 2025. It is a lucrative segment, owing to its benefits including low energy consumption, high precision, and repeatability, due to which, its usage in various end user industries such as medical, consumer goods, food & beverage, and automotive manufacturing has significantly increased. The research also analyzes hybrid and hydraulic machine type.
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New sales segment to maintain its dominance throughout the forecast period
Based on solution, the new sales segment held the major market share in terms of revenue in 2017, contributing nearly three-fourths of the total market share. This segment is expected to dominate the market till 2025, owing to increase in focus on development of machines with advanced features including power efficiency, high operating speed, and improved performance. However, the aftermarket segment is expected to register the highest growth rate, with a CAGR of 5.1% from 2018 to 2025, owing to long life cycle of the machines and requirement of periodic maintenance costs.
Asia-Pacific to continue its dominant position by 2025
Asia-Pacific accounted for more than half of the total market share in 2017 and will continue its dominant position by 2025. This is due to presence of small to mid-level manufacturing sectors such as automotive, consumer goods, and others that require high quality and light weight injection moulded plastics products. However, LAMEA is expected to register the highest growth rate with a CAGR of 6.5% from 2018 to 2025, owing to rise in focus of manufacturers on development of technologically advanced injection-moulded plastic products and parts.
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Leading market players
Key leading market players analyzed in the research include ARBURG, ENGEL, Husky Injection Molding Systems, Haitian International, Milacron Holdings Corp., KraussMaffei Group, Sumitomo Heavy Industries, Nissei Plastic Industrial Co., Ltd., The Japan Steel Works, and Ube Industries, Ltd.
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Alltech Engineering was established in 2007 to cater the demands of various plastic and engineering industries in the sphere of TOOL & MOULD Making. The founder Mr. R. Gunasekaran brings with him vast experiences as tool maker in Plastics,Jigs & Fixture, Thermo forming and vacuum forming. Further his international experiences gained in world renewed tool rooms in Korea ( JMP Ltd.)& Singapore ( UFE Ltd.)adds value to the technical expertise