Portland, OR, Oct. 13, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global plastic injection molding machine market was worth $ 8.37 billion in 2020 and is projected to be $ 12.72 billion by 2030 achieve CAGR of 4.9% from 2021 to 2030. The report offers a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Mass production of plastic products with low labor cost, increasing demand for plastic products from various end users, advantages related to injection molding machines, and increasing demand for Acrylonitrile Butadiene Styrene (ABS) material from end users are driving the growth of the global Plastic To Injection Molding Machines market. However, high initial tool and machine costs and the risk of substitutes hold the market back to some extent. On the other hand, new technological advances offer new opportunities in the years to come.
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- The outbreak of the COVID-19 pandemic led to the introduction of a global lockdown, which delayed the manufacture and production of injection molding machines. This in turn had a negative effect on the global market for plastic injection molding machines.
- In the initial phase of the lockdown, the demand for the machines from the construction, automotive, packaging and logistics sectors declined. This has gradually hampered the global plastic injection molding machine market.
- Several government agencies have launched vaccination campaigns, however, and with that drift on board, the market is expected to recover soon.
The report provides a detailed segmentation of the global Plastic Injection Molding Machines Market by clamping force, operating mode, material, type, application and region.
Get a detailed COVID-19 impact analysis on the market request for plastic injection molding machines here
In terms of functionality, the hydraulics segment held the highest market share in 2020 with around two-fifths of the total market share and is expected to maintain its leading position in the forecast period. In addition, the all-electric segment will have the highest CAGR at 4.2% from 2021 to 2030.
Based on the application, the automotive segment held the largest market share in 2020 with around a quarter of the total market share and is expected to maintain its leading position in the forecast period. However, the medical segment is expected to have the highest CAGR of 4.8% from 2021 to 2030.
Depending on the region, the Asia-Pacific region contributed the highest share of sales in 2020 with around half of the total market share and is expected to maintain its dominant share through 2030. However, LAMEA is expected to have the fastest CAGR of 4.9% over the forecast period.
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List of profiled companies:
The leading players in the global market for plastic injection molding machines analyzed in the study include ARBURG GmbH + Co KG, ENGEL Austria GmbH, Haitian International Holding Ltd, Husky Injection Molding Systems, Krauss Maffei Group, Milacron Holdings Corp., Shibaura Machine Co Ltd., Sumitomo Heavy Industries, The Japan Steel Works and Ube Industries, Ltd.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as medium and small businesses. AMR provides targeted business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.
We have professional business relationships with various companies and this helps us unearth market data which will help us create accurate research data tables and confirm the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality data and help customers succeed in every possible way. All of the data presented in the reports we publish are extracted through primary interviews with top officials from leading companies in the domain in question. Our methodology for obtaining secondary data includes in-depth online and offline research and discussions with knowledgeable professionals and industry analysts.
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