Plastic Injection Molding Machines Market: Introduction
Injection molding machines perform the injection molding process, which is mostly used to manufacture plastic parts. The injection molding process can be employed to manufacture a wide variety of parts or products, which might vary greatly in their structures, dimensions, and end-use applications. The injection molding machine melts the material to be injected into the shaping mold, where the molten material cools off and solidifies, taking the shape of the desired component. Plastic injection molding is the process of producing plastic parts by injecting molten plastic into a metal mold.
Key drivers of the plastic injection molding machines market
Growing demand for the product in the market can be attributed to the rise in demand for plastic injection molding machines in end-use industries such as automotive, consumer goods, packaging, healthcare, and electrical & electronics. Rising demand from the healthcare industry, rapid industrialization in growing economies such as China, India, and Thailand, and increasing demand for plastic molds in electric vehicles are driving the plastic injection molding machine market. Asia Pacific is the key market for plastic injection molding machines, globally, followed by Europe and North America, in terms of volume and value. These factors act as drivers of the plastic injection molding machines market at the global level.
Energy saving awareness creating opportunities in the plastic injection molding machines market
Increasing awareness regarding energy saving worldwide has led to an increase in demand for plastic injection molding machines. All-electric is the fastest growing type of plastic injection molding machine. The latest advancement in the all-electric plastic injection molding machine is that it saves energy, has increased precision and re-usability, and offers low maintenance without the requirement of oil for cleaning etc. All-electric injection molding machines save up to 70% of energy as compared to conventional hydraulic machines. Other improved features include no chance of fluid leakage or misting in all-electric injection molding machines which reduces the possibility of material and surface contamination. Also, increasing demand for large parts of plastic injection molding machines is seen. According to the Plastics Industry Association, the shipment of large machines has increased more than small machines. Large plastic injection molding machines give companies good business opportunities in various markets, including sports, agriculture, and automotive. These factors create new opportunities for the plastic injection molding machines market.
High maintenance cost a restraint of the plastic injection molding machines market
Electric injection molding machines have production efficiency such as short injection times due to dynamic servo-motors, greater repeatability, and reduced noise. Investment costs are high due to the superior technology of these machines, which is a restraint of the market. Another disadvantage is the high maintenance in case of waste. For example, in the event of motor failure, the entire system should be changed, which leads to high maintenance costs. These factors are restraints of the plastic injection molding machines market.
Asia Pacific the dominant market
Asia Pacific accounts for highest share in the plastic injection molding machines market in terms of revenue contribution due to increased adoption of plastic injection molding machines by various end-users such as consumer goods, packaging, and healthcare in the region. Lately, there has been a rise in demand for plastic injection molding machines from makeshift hospitals and healthcare institutes around the globe to manufacture various medical equipment. The outbreak of Coronavirus across the globe brought the healthcare industry into the limelight. Demand for medical equipment - syringes, air systems, and other medical instruments surged exponentially due to increase in the number of Covid-19 cases. India and China became the hub for manufacturing and meeting the demand for all these equipment across the globe.
Key players operating in the global market
Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the major companies identified in the plastic injection molding machines market are:
- Haitian International Holdings Limited
- Chen Hsong Holdings Limited
- Sumitomo Heavy Industries Ltd.
- Engel Austria GmbH (Austria)
- Hillenbrand, Inc.
Plastic Injection Molding Machines Market: Research Scope
Plastic Injection Molding Machines Market, by Machine Type
Plastic Injection Molding Machines Market, by Clamping Force
- Below 200 Tons Force
- Between 201-500 Tons Force
- Above 500 Tons Force
Plastic Injection Molding Machines Market, by End-user
- Consumer Goods
- Electricals & Electronics
Plastic Injection Molding Machines Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the plastic injection molding machines market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.