Global Market Outlook for Injection Molding Machines to 2021 – Growing Demand for Lightweight and Complex Parts in Automotive and Electronics Industry Driving Growth – QNT Press Release


Dublin, January 12, 2022 /PRNewswire/—— “Injection Injection Molding Machine Market Size, Share & Trends Analysis Report By Material (Metal, Plastic), By Technology (Hydraulic, Electric), By End-Use (Automotive, Consumer Goods, Packaging), By Region, And Segment Forecasts, 2021-2028” report added to ResearchAndMarkets.com’s supply.

The global injection molding machine market size is expected to reach $20 billion by 2028. The market is expected to grow at a CAGR of 4.5% from 2021 to 2028.

The growing demand for lightweight and complex components in the automotive and electronics industries is expected to drive industry growth over the years.

The COVID-19 pandemic has caused unprecedented supply chain disruptions, taking a heavy toll on the market. However, demand for PPE and medical equipment has sparked a boom in injection molding machines and accelerated the use of automation, with a focus on shortening production cycle times and increasing productivity.

Demand for electric injection molding machines is on the rise due to factors such as being more suitable for clean rooms and reducing downtime. As companies focus on eco-friendly manufacturing, the demand for electric injection molding machines that improve energy saving is expected to grow over the forecast period.

Major players in the market have invested heavily in R&D operations in recent years, which has led to the introduction of several innovative technologies, including gas-assisted injection molding (GIT), foam injection molding, and multi-component injection molding, which can be used in used throughout the market.

Injection Molding Machine Market Report Highlights

  • Plastic injection molding machine segment is expected to grow at a CAGR of 4.6% from 2021 to 2028 owing to the strong shift from metal parts to plastic parts in the automotive industry
  • The hydraulic injection molding machine segment accounted for 45.2% of the overall market in 2020 owing to increasing demand for heavy and complex parts in industries such as automotive, marine, defense, and aerospace
  • The automotive end-use industry is expected to register a CAGR of 4.4% as auto parts are widely used in the production of auto parts such as interior and exterior trim parts, electronic components, etc.

The full story is available on Benzinga.com



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