Injection Molding Machine Global Market Report 2024

The injection molding machine market has grown strongly in recent years. It will grow from $13.14 billion in 2023 to $13.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The expansion observed in the historical period can be attributed to factors such as industrialization and mass production, innovation and development in materials, evolution of consumer products, environmental concerns and regulations, and a focus on cost-effectiveness and production efficiency.

The injection molding machine market is expected to see strong growth in the next few years. It will grow to $17.07 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be attributed to increasing demand for precision and efficiency, the integration of Industry 4.0 practices, a shift towards sustainable manufacturing, market expansion in emerging economies, and demands for customization and flexibility. Key trends expected in the forecast period involve global market expansion and diversification, a shift towards electric machines, a demand for high-speed and high-pressure machines, and a focus on sustainability and energy efficiency in the field of injection molding machines.

The injection molding machine market is anticipated to experience growth, driven by the expanding electronics industry. The electronics sector encompasses the production of electronic components, devices, and systems such as semiconductors, integrated circuits, and consumer electronics. Injection molding machines play a crucial role in this industry by providing protection for electronic products, reducing waste, offering material versatility, and enabling the efficient production of high volumes of parts. Notably, data from the ZVEI e. V., a Germany-based electro and digital industry association, revealed a substantial increase in the global electric market to 4.5 trillion euros ($4.97 trillion) in 2021, further rising to 5.0 trillion euros ($5.52 trillion). Hence, the growing electronics industry is a significant driver for the injection molding machine market.

The injection molding machine market is poised for growth due to the rising automotive industry. The automotive sector involves the design, manufacturing, and sale of motor vehicles, and injection molding machines are extensively used to produce various plastic components for vehicles. These components include interior trim, exterior body panels, and functional parts. According to the Board of Governors of the Federal Reserve System, total vehicle production in the United States increased to 11.06 million units in September 2023, up from 10.77 million units in June 2023. Thus, the increasing automotive industry contributes to the growth of the injection molding machine market.

A notable trend in the injection molding machine market is the adoption of technological advancements by major companies. LS Mtron Ltd., a South Korea-based manufacturer, launched an AI-based smart injection molding system in April 2022, featuring AI Molding Assistant and Smart Weight Control. The former reduces setup time, stabilizing the initial molding process, while the latter detects weight changes in products.

Product innovation, particularly the development of hybrid injection molding machines, is a key focus for major companies in the injection molding machine market. Hybrid injection molding machines combine features of hydraulic and electric machines to enhance energy efficiency, precision, and overall performance. Sumitomo Heavy Industries Ltd. (SHI), a Japan-based machinery manufacturer, introduced the 20-ton iM18E compact hybrid injection molding machine in February 2023. This machine, designed for molding electronic parts, offers improved shot-to-shot weight variance and uses 50% less power than comparable hydraulic machinery.

In February 2022, Comar LLC, a US-based manufacturer and supplier of plastic solutions, acquired Automatic Plastics Ltd. This acquisition aims to enhance global manufacturing capabilities for pharmaceutical and medical device packaging solutions. Both companies, now combined, plan to expand their presence in European healthcare markets, boasting a workforce of 1200 employees and 11 production facilities. Automatic Plastics Ltd., based in Ireland, specializes in the manufacture of injection molding machines and products for the pharmaceutical and medical devices sectors.

Major companies operating in the injection molding machine market report are Arburg GmbH + Co KG, Haitian International Holdings Limited, Milacron Holdings Corp, 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 Corporation Ltd., Shibaura Machine Co Ltd., Wittmann Battenfeld, Toshiba Machine Co Ltd., Negri Bossi SpA, Mitsubishi Heavy Industries Plastic Technology Co Ltd., Victor Taichung Machinery Works Co Ltd., Woojin Plaimm Co Ltd., Billion SAS, Dr. Boy GmbH & Co KG, Fu Chun Shin Machinery Manufacture Co Ltd., Huarong Plastic Machinery Co Ltd., L.K. Machinery International Limited, LS Mtron Ltd., Multiplas Enginery Co Ltd., Niigata Machine Techno Co Ltd., Sodick Co Ltd., Yizumi Precision Machinery Co Ltd., Cincinnati Milacron, WINTEC Co. Ltd., IKS PVD Technology (Shenyang) Co Ltd.

Asia-Pacific was the largest region in the injection molding machine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global injection molding machine market during the forecast period. The regions covered in the injection molding machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the injection molding machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary technologies employed in injection molding machines include hydraulic, electric, and hybrid systems. Hydraulic technology involves the use of hydraulic systems, utilizing liquids such as oils or water, to transmit power. This technology powers the injection molding machine and controls the movements of its various components during the injection molding process. The clamping force applied by these machines can range from less than 200 tons force to 200-500 tons force and more than 500 tons force, using materials such as plastic, rubber, metal, ceramic, and others, with both low and high pressure. Injection molding machines find applications in various industries, including automotive, packaging, healthcare, consumer goods, toy manufacturing, building and construction, home appliances, and others.

The injection molding machines market research report provides injection molding machines market statistics, including the injection molding machines industry global market size, regional shares, competitors with an injection molding machines market share, detailed injection molding machines market segments, market trends, and opportunities, and any further data you may need to thrive in the injection molding machines industry. This injection molding machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The injection molding machine market consists of sales of horizontal injection molding machines and vertical injection molding machines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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