Published on : Dec 21, 2016
ALBANY, NY, Dec 21, 2016: The report provides an in-depth overview, focusing on the potential growth opportunities and the recent developments in the market. In addition, the geographical segmentation, key applications, product segmentation, technological developments, and the competitive landscape of the global injection molding machine market have been discussed in depth in the scope of the study. According to the report, the global market for injection molding machines is estimated to register a 2.0% CAGR between 2016 and 2020.
The rising demand from the food packaging industry and the growing use of injection molding machines in the medical technology are some of the primary factors driving the injection molding machines across the globe. In addition, the growth of e-commerce industry and the reduction in GHG emissions are expected to encourage the growth of the market in the next few years. However, the high cost of tooling and the slowdown in the China economy are anticipated to restrict the growth of the overall market in the next few years.
On the basis of end use, the global injection molding machine market has been categorized into consumer goods, consumer electronics and IT, packaging, and automotive. In 2015, the automotive sector led the global injection molding machine market, thanks to the growing demand and innovative applications. This segment is projected to remain in the leading position throughout the forecast period. In the automotive sector, injection molding machines are being extensively used for turbochargers, steering systems, gearboxes, electronic systems, locking mechanisms, and engines.
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From a geographical viewpoint, in 2015, the Asia Pacific led the global injection molding machine market and is likely to remain in the dominant position throughout the forecast period. The rapid development of the automotive industry is one of the primary factors augmenting the injection molding machine in Asia Pacific. In addition, the high contribution from emerging nations such as Vietnam, India, Thailand, and Indonesia is another factor expected to fuel the growth of this region in the next few years.
The global market for injection molding machines is extremely competitive in nature with a presence of a large number of players operating in it. As the market is highly capital-intensive, it is majorly dominated by a few international players. The growing focus of key players on innovations and expansion of product portfolio in order to boost sales and create a brand name is expected to encourage the market’s growth in the coming years.
Some of the prominent players operating in the global injection molding machine market are NISSEI, Husky Injection Molding Systems, ARBURG, Haitian International Holdings, and Sumitomo Heavy Industries Ltd. In addition, a list of several key players in the market has been included in the study to provide a clear picture of the market.
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