The market size of injection molding machine is projected to reach USD 4.86 Billion by 2021, registering a CAGR of 2.2% between 2016 and 2021. The rapid growth in the automotive industry in Asia-Pacific is a key driver of the injection molding machine market.
Seattle, WA -- (SBWIRE) -- 11/18/2016 -- The report "Injection Molding Machine Market by Product Type (Plastic, Rubber, Metal, and Ceramic), Machine Type (Hydraulic, All-Electric, and Hybrid) and End-Use Industry (Automotive, Consumer Goods, Packaging, Healthcare and Electrical and Electronics) - Global Trends & Forecasts to 2021", is projected to reach USD 4.86 Billion by 2021, registering a CAGR of 2.2% between 2016 and 2021.
Browse 128 market data tables with 62 figures spread through 197 pages and in-depth TOC on "Injection Molding Machine Market - Global Trends & Forecasts to 2021"
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The market is driven by the rapid growth of the automotive and packaging industries in the Asia-Pacific region.
The market size of injection molding machine was USD 4.28 billion in 2015 and is projected to reach USD 4.86 billion by 2021, registering a CAGR of 2.2% between 2016 and 2021. There is an increasing demand of automobiles in the emerging economies such as China, India, and Japan because injection molding machines are majorly used for manufacturing automotive parts. This is fueling the growth of the injection molding machine market in these regions. Properties such as low energy consumption, low maintenance cost, short production cycle time, and high accuracy of all-electric injection molding machines contribute to the growth of the injection molding machine market.
Injection molding machine for plastic products to account for the major share of the market till 2021
The injection molding machine market is segmented by product type, namely, plastic, rubber, metal ceramic, and others (includes micro-injection molding, gas injection molding, and liquid silicone rubber injection molding). Plastic is the most preferred product type of injection molding machine and accounts for a major share in the global injection molding machine market. The dominance of the plastic segment is expected to continue between 2016 and 2021 due to its increasing demand from the end-use industries such as automotive, consumer goods, and packaging.
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Automotive industry to be the largest industry for the injection molding machine market between 2016 and 2021
The automotive industry accounted for the largest share in the injection molding machine market. This is due to the growing automotive industry and improving standard of living in the developing nations. Moreover, the increasing number of passengers and commercial vehicles in the region is fueling the growth of the market. Injection molding machines are predominantly used in manufacturing automotive components, interior wrapping, and numerous assembly parts.
Asia-Pacific to be the largest market during the forecast period
The injection molding machine market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and Latin America. Asia-Pacific is the largest market, followed by Europe, and projected to be the fastest-growing market during the forecast period. Growing industrialization and increasing number of passenger and commercial vehicles have offered enormous opportunities for various automotive industries to use injection molding machines in the Asia-Pacific region.
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Currently, the global injection molding machine market is dominated by various market players, such as Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries (Japan), Milacron Holdings Corp. (U.S.), Engel Austria GmbH (Austria), Nissei Plastic Industrial Co., Ltd, (Japan), Arburg GmbH & Co. KG (Germany), Husky Injection Molding Systems Ltd. (Canada), Dongshin Hydraulic Co., Ltd. (Korea), The Japan Steel Works Ltd. (Japan), KraussMaffei Group GmbH (Germany), Negri Bossi S.P.A. (Italy), and others.
The research study aims at identifying emerging trends and opportunities in the global injection molding machine market along with a detailed classification of the market, in terms of value and volume. It identifies the key players in the global market and provides a comprehensive competitive landscape. The research study also includes a detailed segmentation of the global injection molding machine market on the basis of end-use industry, type, and region.
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