Injection Molding Machine Market New Product Enhancements to Flourish the Market Growth By 2030

The rise in demand for automobiles and electronic products and home appliances has significantly increased the use of plastic owing to its suitability for manufacturing a wide range of components. The increased use of plastic has driven the growth of the injection molding machines market, owing to its capability to efficiently mold plastic with minimum wastage

The global injection molding machine market size was valued at $9.4 billion in 2020, and is projected to reach $15.9 billion by 2030, registering a CAGR of 4.9% from 2021 to 2030

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Furthermore, injection molding machine market growth of packaging industry has positively influenced the market as plastic components such as bottles and containers are extensively used in packaging industry. In addition, various government initiatives and free trade agreements across the globe have fueled the growth of the processed food and beverage industry, thereby boosting the demand for injection molding machines for producing various packaging components.

Furthermore, on the basis of application, the packaging segment is anticipated to grow rapidly, with a CAGR of xx% during the forecast period, owing to growth of pharmaceutical and food & beverage industry in emerging economies.

For instance, according to India Brand Equity Foundation, the value of Indian drug and pharma exports reached $5.78 billion between April 2021 and June 2021, and Indian pharmaceutical industry received FDI of $130 million during the same period. In November 2020, around 15 countries from the Asia-Pacific region signed the Regional Comprehensive Economic Partnership (RCEP), which is a free trade agreement that is anticipated to boost various manufacturing industries including food & beverage in the region.

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By clamping force, the market is segmented into less than 200 tons force, 200-500 tons force and more than 200-500 tons force. Among these, the more than 200-500 tons force segment accounted for the highest market share in 2020 and less than 200 tons force is expected to witness significant growth during the forecast period, owing to increase in demand from the manufacturing sector. The market is analyzed with respect to different applications such as automotive, packaging, electronics, healthcare, consumer goods, toy making, building and construction, home appliances and other industrial verticals.

Developments in the global manufacturing industry and increase in investment in automotive, food & beverage, electronics, and healthcare industries drive the growth of the market. However, factors such as high initial cost and part design restrictions limit the growth of the market.

Top Runners:
The key players profiled in the market 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.

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