Injection Moulding Machines Market to See a Massive Financial Boost in the Forecast Period
Low labor costs, an advantage of bulk production, material flexibility, and low waste production drive the growth in the market. However, high machinery & tooling costs, the threat of substitutes, and restrictions on designing of parts restrain the market growth. On the other hand, technological innovations create new pathways in the industry.
According to the report, the global injection moulding machines market garnered $15.25 billion in 2017 and is expected to reach $22.32 billion in 2025, registering a CAGR of 4.7% from 2018 to 2025.
New sales segment to maintain its dominance throughout the forecast period
Based on the solution, the new sales segment held the major market share in terms of revenue in 2017, contributing nearly three-fourths of the total market share. This segment is expected to dominate the market till 2025, owing to an increase in focus on the development of machines with advanced features including power efficiency, high operating speed, and improved performance. However, the aftermarket segment is expected to register the highest growth rate, with a CAGR of 5.1% from 2018 to 2025, owing to the long life cycle of the machines and requirement of periodic maintenance costs.
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All-electric is a lucrative segment
Based on machine type, all-electric accounted for more than two-fifths of the total market share in 2017 and is expected to maintain its dominance throughout the forecast period. This segment is also estimated to register the highest CAGR of 5.2% from 2018 to 2025. It is a lucrative segment, owing to its benefits including low energy consumption, high precision, and repeatability, due to which, its usage in various end-user industries such as medical, consumer goods, food & beverage, and automotive manufacturing has significantly increased. The research also analyzes hybrid and hydraulic machine type.
Leading market players
Key leading market players analyzed in the research include ARBURG, ENGEL, Husky Injection Molding Systems, Haitian International, Milacron Holdings Corp., KraussMaffei Group, Sumitomo Heavy Industries, Nissei Plastic Industrial Co., Ltd., The Japan Steel Works, and Ube Industries, Ltd.
