According to the report titled ‘Injection Molding Machine Market Size, By Type (Plastic IMM, Rubber IMM, Metal IMM), By Position (Horizontal, Vertical), By Mechanism (Hydraulic, Mechanical, Electrical, Hybrid), By End-user (Automotive & Transportation, Construction, Consumer Goods, Packaging, Electrical & Electronics), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Landscape & Forecast, 2021 – 2027,’ available with MarketStudyReport, global injection molding machine market is expected to expand significantly during the period 2021-2027.
 

Rising demand from the packaging sector, expansion in the electronics industry, and widespread usage in manufacturing medical components & equipment are factors contributing to the growth of global injection molding machine market.

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For those unaware, injection molding machines (IMM) use custom-made molds as per the requirements and specifications, producing similar component duplicates that can be customized in a variety of ways.

Despite the positive aspect, massive costs of tooling, time-consuming setting up process, coupled with the availability of 3D printing technologies are likely to impede the industry development during the review period.

Based on type, the metal IMM segment is estimated to witness robust expansion at a rate of 5.8% during the analysis period, given extensive adoption by medical & aerospace industries for production of complex metal parts that require high accuracy and consistency. 

Concerning mechanism ambit, the hybrid segment of worldwide injection molding machine industry is anticipated to progress at 5.5% CAGR in the forthcoming years, as these machines can produce both thick as well as thin-wall parts, making them extremely popular among medical devices manufacturers. Also, hybrid machines boast of repeatability, high precision, and energy saving properties.

In terms of end-user, the packaging vertical held a 40% market share in 2020 and is estimated to generate significant revenues, during the projected timeline, owing to the high rate of adoption of plastics for packaging to improve the aesthetics of products, combined with rising usage of plastic containers to reduce the weight in the transportation process. 

Speaking of the geographical landscape, Europe accounted for 15% market share in 2020 and is poised to observe a promising growth rate during the assessment timeframe, given the high level of automotive product        ion, and soaring healthcare expenditure in the region. 

Prominent players influencing worldwide injection molding machine market trends Borch Machinery (UK) Co. Ltd., Engel Group, Supermac Machinery, Arburg GmbH + Co. KG, Multiplas Enginery Co. Ltd., Haitian Plastics Machinery Group Co., Electronica Plastic Machines Ltd., Sumitomo (SHI) Demag Plastics Machinery GmbH, H.K. Industries, Husky Injection Molding Systems Ltd., Polymechplast Machines Ltd., KraussMaffei Technologies GmbH, Ube Machinery Corporation Ltd., Milacron LLC, The Japan Steel Works Ltd., and Nissei Plastic Industrial Co. Ltd. among others.