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Hot Runner Market by Product, Technology, and Application | At a CAGR of 7.9% Forecast By 2026
Hot Runner Market
In addition, the global hot runner market is mainly propelled by the rise in demand for optimal quality injection-molded parts from numerous end-use industries such as the consumer goods, packaging, automotive, and others.
The global hot runner market size was $2,854.0 million in 2018, and is expected to reach $5,241.5 million by 2026, growing at a CAGR of 7.9% from 2019 to 2026
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Scope of The Market:
The Hot Runner Market is used for reducing wastage of plastic material that arises in the injection molding process. The utilization of a hot runner system increases molding efficiency by offering reduced cycle time, and decrease in labor, material, and energy costs. It also adds significantly to consistency and quality of part and permits additional flexibility for molding automation.
The global hot runner market is heating up, and it shows no signs of cooling down. As the manufacturing industry evolves, the demand for more efficient, cost-effective, and sustainable injection molding solutions continues to grow.
Hot runners have emerged as a pivotal technology that is revolutionizing the world of plastic injection molding. In this blog, we'll delve into the hot runner market, exploring the latest trends and innovations that are shaping its trajectory.
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Dynamic Scope of the Research -
The medical and automotive industries are experiencing a growing need for high-precision, top-quality plastic components. Hot runners are increasingly being adopted in these sectors to meet stringent manufacturing requirements. In the medical field, they are vital for producing intricate and sanitary components. In the automotive sector, hot runners facilitate the production of lightweight and durable parts, helping to improve fuel efficiency and reduce emissions.
In addition, the global hot runner market is mainly propelled by the rise in demand for optimal quality injection-molded parts from numerous end-use industries such as consumer goods, packaging, automotive, and others. Moreover, various innovative technologies are established based on hot runner systems that includes the PET pre-formed process, stack mold, multi-material shot, and multi-color shot.
Top Runners of The Market:
Top Leading Companies: Barnes Group Inc., CACO Pacific Corporation, EWIKON Molding Technologies, Inc., Fast Heat UK Limited, Fisa Corporation, Günther Heisskanaltechnik, Husky Injection , Molding Systems Ltd., INCOE Corporation, INglass Group, Milacron Inc., Seiki Corporation, Yudo Group.
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Key Findings of the Hot Runner Key Market:
By type, valve gate hot runner was the largest revenue-generating type segment in 2018.
Based on application, the automotive industry generated the highest revenue in 2018, accounting for almost one-thirds of the market, and is projected to grow at a substantial CAGR from 2019 to 2026.
Asia-Pacific held the largest share of global hot runner market throughout the forecast period.
China accounted for the majority of the share of the Asia-Pacific hot runner market in 2018.
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