The Global "Injection Moulding Machines Market" is expected to grow at a CAGR of 5.0% during the forecasting period (2022-2029).
An injection Moulding machine is used to manufacture plastic products using the injection Moulding method. The injection moulding process is the most widely used modern technology to manufacture plastic and other products. This kind of moulding involves injecting raw material under high pressure into moulds which shapes the material into the desired output.
The growth in the moulding machine market is mainly due to the trend of rapid industrialization in developing countries. Technological developments which require specialized components accelerated urbanization, and infrastructure growth are further driving the growth. The increasing demand for reducing production timeline also acts as an augmenting factor driving the injection moulding machines market growth in recent years.
The factors that restrain the growth of the market are; ban on plastics across the world due to rising environmental consciousness among the population. Since plastics are derived from the naturally occurring materials such as coal, natural gas and crude oil, the fact that they’re depleting fast also raising concerns over the future market growth.
By material, the Global Injection Moulding Machines Market is divided into Plastic, Metal, Rubber, Ceramic and others. The plastic injection moulding machine segment is expected to have the highest market share, primarily due to rising demand from the automotive industries, and the consumer-goods market which has a wide range of applications like manufacturing of plastic bottles, plastic toys, chairs etc. The plastic segment is also further divided into thermoplastics and thermosetting plastics. The thermoplastics segment is projected to have a higher market share than its thermosetting counterpart. This is mainly due to its higher flexibility, and low boiling point of thermoplastics. Metal injection moulding is further sub-segmented into iron and steel, stainless steel, copper, aluminium etc. Ceramic injection moulding is further sub-segmented into zirconia, alumina etc.
By technology, the Global Injection Moulding Machines Market is segmented into Hydraulic, Electric and Hybrid moulding machines. The Hydraulic Injection Moulding Machine segment is forecasted to dominate the market, as electric machines are unable to achieve the clamping force produced by hydraulic moulding machines. Whereas hybrid injection moulding machines, on the other hand are expected to have considerable growth in the coming years. For example, Arburg manufactures hybrid injection moulding machines that are designed to save energy up to 40%. Adding to this is the fact that the maintenance of hybrid machines requires skilled employees having expertise in electric and hydraulic machines are the key factors affecting the growth.
By end-use, the Global Injection Moulding Market is divided into Automotive Electronics, End-product Packaging, and Consumer Goods. The end-user segment is expected to be outshined main by automotive goods supported by increasing production of vehicles and increasing demand for transportation in the developing nations and developed countries.
By geography, the market is segmented into North America, South America, Europe, Asia Pacific and the Middle East and Africa.
The Global Injection Moulding Machines Market is expected to be concentrated in the North American region primarily from the USA with increasing demand for automotive components. Complementing this, the increasing rate of adoption to advanced technology in the US compared to global, have supported the growth of injection moulding machines market in the region.
In the European region, Germany is expected to emerge as a leading market for Injection Moulding Machines due to government policies focussed on improving infrastructure, continuing investment in Research and Development, and finally increasing skilled workforce in the country. The Global Injection Moulding Machine Market will experience a boost from these factors as the units used in construction are produced by these machines. For example, Metal injection moulding machines produce a range of components used in the construction business like fittings, metal pipes, clamps etc.
In the APAC region, China is anticipated to have the highest market share, due to the rapid rate of industrialization, and increasing automation of repetitive and risky tasks. Automation directly affects the demand for injection moulding machines as the machines which replace humans, need complex, and specialized components. These components are produced by injection moulding machines- either hydraulic or electric or even hybrid.
The Global Injection Moulding Machines Market is fragmented, as there is no major competitor holding a major portion of the market share. The players in this market are adapting to the global trends by incorporating artificial intelligence in the machines they manufacture, either to predict machine failure by evaluating machine data or to increase efficiency.
For example, Engel has started providing smart solutions which identifies machine wear and reliably predict the remaining service life of various components in the system through continuous evaluation of the machine.
Arburg, on the 0ther hand, also concentrates on building a smart factory through its “digital transformation” initiative, where it takes into account all economic processes and gives insights on a sustainable method to increase the efficiency of production. This Smart Machine enables users to perform complex tasks relatively easily.
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