Selbyville, Delaware, May 4, 2021 (GLOBE NEWSWIRE) – Based on Global Market Insights Inc. report, Injection Molding Machine Market was estimated at $ 4.4 billion in 2020 and is expected to exceed $ 6 billion by 2027, registration of a 4.8% CAGR from 2021 to 2027. The report provides in-depth analysis of major investment avenues, major winning strategies, drivers and opportunities, fluctuating industry trends, market estimates as well as size, competitive scenarios.
The vertical position machine contributed approximately USD 795 million to the injection molding machine market in 2020. The vertical orientation machines take up less space than horizontal types and are more suitable for insertion molding applications including glass, films and metals in addition to plastics. This type of machine is preferred for manufacturing small parts and manual operations. In addition, manufacturing facilities with space constraints place high demands on vertically oriented injection molding machines.
Request sample report: https://www.gminsights.com/request-sample/detail/4467
Hydraulic injection molding machines also hold a large share of the injection molding machine market. This can be attributed to their high clamping force capabilities. Modern hydraulic IMMs can provide clamping force of up to and in excess of 8,000 tonnes and have the capacity to produce parts weighing over 50 pounds. Therefore, hydraulic injection molding is highly preferred by the automotive industry for making heavy and bulky parts such as bumpers. Manufacturers are taking advantage of several advantages offered by different injection molding machines and are increasingly ordering IMM to manufacture all kinds of products. Thus, these trends positively impact IMM demand and create lucrative opportunities for industry participants.
North America injection molding machinery market will register a CAGR of around 3.5% by 2027. This can be mainly attributed to the large production of motor vehicles in the region. Additionally, with the large number of plastic parts used in a vehicle and increasing sales of motor vehicles and the huge fleet of automobiles, injection molding is one of the more viable options for mass production. parts with high cost-effectiveness.
In 2020, the production of motor vehicles in the United States exceeded 8.8 million units. In addition, the increasing demand for smaller tonnage equipment in bottling and medicine industries will further stimulate the demand for the injection molding machine. However, the COVID-19 outbreak has severely affected the demand for injection molding machines in the automotive industry due to the decline in vehicle production.
Request to customize this report: https://www.gminsights.com/roc/4467
The main participants of the injection molding machine industry are ENGEL Group, ARBURG GmbH + Co KG, Haitian Plastics Machinery Group, Sumitomo (SHI) Demag Plastics Machinery GmbH, Husky Injection Molding Systems Ltd., KraussMaffei Technologies GmbH, Milacron LLC , Nissei Plastic Industrial Co., Ltd., The Japan Steel Works, Ltd., Ube Machinery Corporation, Ltd., Polymechplast Machines Ltd., Electronica Plastic Machines Ltd., Multiplas Enginery Co., Ltd., Supermac Machinery, Borch Machinery Co ., Ltd., MICRO, and Wittmann Battenfeld GmbH.
About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, USA, is a global provider of market research and consulting services. Offering syndicated and customized research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with insightful insights and actionable market data that aid strategic decision making.
GMIPulse, our business analysis platform, offers an interactive online option to explore our proprietary industry research data in a simple and dynamic way. Customers can explore market information in 11 top-level categories and hundreds of industry segments within them, spanning regional, company-level and cross-sectional statistics that make our offering a great asset to decision makers.