Injection Molding Machine Industry Overview
The global injection molding machine market size was estimated at USD 15.99 billion in 2023 and is projected to grow at a CAGR of 4.7% from 2024 to 2030. The market has witnessed significant growth in recent years, driven by the rising demand for molded plastic products across various industries. Injection molding machines play a crucial role in the manufacturing process by injecting molten material into a mold, resulting in the production of a wide range of products with high precision and efficiency.
Gather more insights about the market drivers, restrains and growth of the Injection Molding Machine Market
Key factors driving the market growth are the increasing adoption of plastic components in automotive, packaging, consumer goods, and medical sectors. These industries require mass production of intricate parts, which can be efficiently achieved through injection molding, thus boosting the demand for injection molding machines.
The rising demand for on-the-go packaged products in the U.S. owing to the increased purchasing power and the busy lifestyle of consumers is expected to have a positive impact on the market growth of the packaging industry in the country. The flourishing packaging industry and the rising adoption of injection-molded packaging products are anticipated to drive the demand for these products in the U.S. over the forecast period.
Technological advancements in injection molding machines, such as the integration of automation and robotics, have further enhanced their efficiency, accuracy, and productivity. Manufacturers are investing in the development of advanced machines equipped with features like real-time monitoring, predictive maintenance, and energy efficiency, thereby driving market growth.
The growing emphasis on sustainability and environmental concerns has led to the adoption of eco-friendly materials and processes in manufacturing. Injection molding machines are increasingly being used with biodegradable and recycled materials, aligning with the global shift towards sustainable practices and contributing to market expansion.
Rising population and improving economic conditions create high demand in consumer goods and food beverage industries. This poses high competition for manufacturers, creating need for product differentiation with attractive packaging which results in a high growth rate for complex, high-quality packaging products. These factors are expected to drive the market growth over the forecast period.
Browse through Grand View Research's Micro Molding Microspheres Industry Research Reports.
- The global predictive maintenance market size was valued at USD 7.85 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 29.5% from 2023 to 2030.
- The global plastic injection molding machine market size was estimated at USD 11.7 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030.
Injection Molding Machine Market Segmentation
Grand View Research has segmented the global injection molding machine market on the basis of on material, technology, end-use, and region:
Injection Molding Machine Material Outlook (Revenue, USD Million, 2018 - 2030)
- Plastics
- Metals
- Others
Injection Molding Machine Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Hydraulic
- Electric
- Hybrid
Injection Molding Machine End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Automotive
- Consumer Goods
- Packaging
- Electronics
- Others
Injection Molding Machine Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Denmark
- Austria
- Asia Pacific
- China
- Japan
- India
- South Korea
- Taiwan
- Central South America
- Brazil
- Argentina
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
Key Companies profiled:
- Arburg GmbH + Co KG
- Haitian International Holdings Limited
- Milacron
- Nissei Plastic Industrial Co., Limited
- Engel Austria GmbH
- Sumitomo (SHI) Demag Plastics Machinery GmbH
- Chen Hsong Holdings Limited
- Toyo Machinery Metal Co., Ltd
- Husky Injection Molding Systems Ltd
- Japan Steel Works Limited
- KraussMaffei Group
- UBE Machinery
- Shibaura Machine Co. Ltd.
- Wittmann Battenfeld
Recent Developments
- In December 2023, Husky Technologies opened a cutting-edge service center in Jeffersonville, Indiana. The facility provides a wide array of readily accessible OEM parts, demonstrating the company's dedication to its customers in the Americas region
- In November 2023, ARBURG expanded its global footprint with the inauguration of a new subsidiary in Vietnam. The primary objective was to enhance accessibility to ARBURG products and services for customers in Vietnam. The establishment of this subsidiary reflects the company's commitment to providing products and services with increased convenience, efficiency, and dependability
- In June 2023, Haitian International opened an advanced manufacturing facility in Mexico with the strategic objective of enhancing local production capacity, reducing delivery times, and delivering superior solutions to meet the technical needs of customers in North and South America
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