Injection Molding Machine Market 2024- By Size, Growth, Trends And Global Forecast To 2033

The Injection Molding Machine Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Injection Molding Machine Global Market Report 2024, The injection molding machine market size has grown strongly in recent years. It will grow from $13.14 billion in 2023 to $13.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to industrialization and mass production, material innovation and development, consumer product evolution, environmental concerns and regulations, cost-effectiveness and production efficiency..

The injection molding machine market size is expected to see strong growth in the next few years. It will grow to $17.07 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increasing demand for precision and efficiency, industry 4.0 integration, shift towards sustainable manufacturing, market expansion in emerging economies, customization and flexibility demands.. Major trends in the forecast period include global market expansion and diversification, shift towards electric machines, demand for high-speed and high-pressure machines, sustainability and energy efficiency..

The growing electronics industry is expected to propel the growth of the injection molding machine market going forward. The electronics industry refers to the sector of the economy that produces electronic components, devices, and systems such as semiconductors, integrated circuits, computer hardware, telecommunications equipment, consumer electronics, and other electronic products. Injection molding machines are used in the electronics industry to provide protection for electronic products, produce less waste than other manufacturing processes, have versatility in material selection, and produce high volumes of parts quickly and efficiently. For instance, in July 2022, according to the ZVEI e. V., a Germany-based electro and digital industry association, the global electric market was 4.5 trillion euros ($4.97 trillion) increased in 2021, accounting for 5.0 trillion euros ($5.52 trillion) respectively.. Therefore, the growing electronics industry is driving the growth of the injection molding machine market.

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The injection molding machine market covered in this report is segmented –

1) By Technology: Hydraulic, Electric, Hybrid

2) By Clamping Force: Less Than 200 Tons Force, 200-500 Tons Force, More Than 200-500 Tons Force

3) By Material: Plastic, Rubber, Metal, Ceramic, Other Materials

4) By Pressure Type: Low Pressure, High Pressure

5) By Application: Automotive, Packaging, Healthcare, Consumer Goods, Toy Making, Building And Construction, Home Appliances, Other Applications

Top Major Players

Arburg GmbH + Co KG

Haitian International Holdings Limited

Milacron Holdings Corp

Nissei Plastic Industrial Co Limited

Engel Austria GmbH

Technological advancements are a key trend gaining popularity in the injection molding machine market. Major companies operating in the injection molding machine market are adopting new technologies to sustain their position in the market. For instance, in April 2022, LS Mtron Ltd., a South Korea-based manufacturer of medical products launched the latest artificial intelligence (AI)-based smart injection molding system. It is equipped with two technological features ‘AI Molding Assistant' and ‘Smart Weight Control'. The AI molding assistant enables a reduction in time and stabilizes the initial molding setup process whereas the smart weight control is integrated with the software of the injection molding machine that helps in the detection of weight changes in products.

The injection molding machine market report table of contents includes: