23/07/2024
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Injection Molding Machine Market Is Extrapolated To Reach A Value Of USD 18,147.90 Million By 2033

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As per the current market research conducted by the CMI Team, the global Injection Molding Machine Marketsize is expected to record a CAGR of 3.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 13,315.7 Million. By 2033, the valuation is anticipated to reach USD 18,147.9 Million.

Injection Molding Machine Market: Growth Factors and Dynamics

  • Expansion of End-Use Industries: The injection molding machine market is driven by the expansion of end-use industries such as automotive, packaging, consumer goods, healthcare, and electronics. Increased demand for molded components in these sectors fuels the growth of the market.
  • Technological Advancements: Continuous advancements in injection molding machine technology, including improvements in precision, speed, energy efficiency, and automation capabilities, contribute to market growth. These advancements enhance manufacturing efficiency, reduce production costs, and improve product quality.
  • Demand for Lightweight and Complex Components: The growing demand for lightweight and complex components in industries like automotive and aerospace drives the adoption of injection molding machines. These machines enable the production of intricate parts with high strength-to-weight ratios, meeting industry demands for performance and efficiency.
  • Shift towards Sustainable Manufacturing: Increasing environmental concerns and regulatory pressures drive the adoption of sustainable manufacturing practices in the injection molding machine market. Manufacturers are investing in energy-efficient machines, recyclable materials, and closed-loop systems to minimize environmental impact and meet sustainability goals.
  • Rising Adoption of Additive Manufacturing Technologies: The integration of additive manufacturing technologies, such as 3D printing, with injection molding processes drives market growth. Hybrid machines that combine both technologies enable rapid prototyping, tooling production, and customization, catering to the demand for agile manufacturing solutions.

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Injection Molding Machine Market: Partnership and Acquisitions

  • In 2023, ABC Technologies Holdings Inc. acquired WMG Technologies for USD 165 million. ABC Technologies offers products in fluids, HVAC, and exterior and interior systems, among others. WMGT supplies sophisticated tooling for injection-molded automotive parts, lighting molds, optic inserts, and a variety of other exterior products to global automotive OEMs.
  • In 2022, ENGEL expanded its presence by establishing its sales and service subsidiary in Morocco. This move strengthens the Austrian injection molding machine manufacturer’s foothold in the region, allowing for enhanced customer support and service offerings.
  • In 2022, Haitian partnered with HCMC University of Technology & Education to establish a joint venture for operating a laboratory. The lab features dedicated areas for training, mold repair, and practical operations, equipped with injection molding machines, robots, and peripheral equipment supplied by Haitian.

Injection Molding Machine Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Injection Molding Machine Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

  • Supply Chain Disruptions: The COVID-19 pandemic disrupted global supply chains, leading to shortages of raw materials, components, and machine parts for injection molding machines. This resulted in production delays, increased lead times, and challenges in meeting customer demand.
  • Reduced Demand from End-Use Industries: Many end-use industries, such as automotive, aerospace, and consumer goods, experienced a significant decline in demand during the pandemic due to lockdowns, travel restrictions, and economic uncertainty. This led to lower investments in capital equipment, including injection molding machines, further impacting the market growth.
  • Adoption of Digital Technologies: To recover from the COVID-19 impact, injection molding machine manufacturers are increasingly adopting digital technologies such as IoT, AI, and remote monitoring solutions. These technologies enable predictive maintenance, real-time production monitoring, and remote diagnostics, improving operational efficiency and reducing downtime.
  • Focus on Resilient Supply Chains: Manufacturers are reevaluating their supply chain strategies to mitigate risks and ensure resilience in the face of future disruptions. This includes diversifying suppliers, securing alternative sources of raw materials, and investing in local manufacturing capabilities to reduce dependency on international suppliers.

List of the prominent players in the Injection Molding Machine Market:

  • Haitian International Holdings Ltd.
  • The Japan Steel Works Ltd. (JSW)
  • Chen Hsong Holdings Limited
  • Sumitomo Heavy Industries Ltd.
  • Engel Austria GmbH
  • Arburg GmbH + Co KG
  • Nissei Plastic Industrial Co. Ltd.
  • Milacron Holdings Corp.
  • Husky Injection Molding Systems Ltd.
  • KraussMaffei Group GmbH
  • Shibaura Machine Company America
  • Wittmann Battenfeld Group
  • Toyo Machinery & Metal Co. Ltd.
  • Dakumar Machinery Co. Ltd.
  • Shibaura Machine Co. Ltd.
  • Others

Table of Contents: https://www.custommarketinsights.com/report/injection-molding-machine-market/#table-of-contents

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