Plastic Injection Moulding Machine Market Size was valued at USD 9.8 Billion in 2022. The Plastic Injection Moulding Machine Market industry is projected to grow from USD 10.1 Billion in 2023 to USD 13.70 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.80% during the forecast period (2023 - 2032).
The surge in the global population has led to a substantial increase in the demand for various products, including processed food & beverages, pharmaceuticals, automobiles, and electronics. This heightened demand has contributed to the widespread utilization of plastic due to its versatility and the ability to be customized to meet specific requirements are expected to be a significant market driver for the Plastic Injection Moulding Machine Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Plastic Injection Moulding Machine is being driven by the Rising awareness about energy savings and increase in manufacturing activities. The global demand for Injection Molding Machinery is on the rise, driven by increasing awareness of energy savings. All-electric machines are the fastest-growing type due to their multiple advantages, including energy efficiency, enhanced precision, reusability, low maintenance, and high speed. These machines outperform hydraulic counterparts in terms of efficiency, reliability, cost savings, cycle-time efficiency, and reusability. All-electric plastic injection molding machines can save up to 70% of energy compared to hydraulic machines, operating with digital control systems. These factors collectively contribute to the growing demand for plastic injection molding machines worldwide.
Governments worldwide are emphasizing the development of the manufacturing sector to boost the economy. Initiatives such as the 'Make in India' program launched by the Indian Government and the 'Made in China 2025' initiative by the Chinese government have positively impacted the manufacturing sector in the Asia-Pacific region. The increase in manufacturing activities has driven the demand for various plastic components and packaging solutions, thereby creating opportunities in the injection molding machine market.
The Asia-Pacific region is emerging as a significant automotive hub, particularly with the rapid growth of the automotive industry in countries like China and India. China holds the title of the world's largest automotive market in terms of manufacturing capacity and annual sales. As of 2020, India has 25 registered vehicles per 1000 people, a number expected to surpass 150 vehicles per 1000 people by 2040, further driving market growth, as injection molding plays a crucial role in manufacturing a diverse range of interior and exterior components in the automotive industry. As a result, it is anticipated that throughout the projection period, demand for the Plastic Injection Moulding Machine Market will increase due to the Rising awareness about energy savings and increase in manufacturing activities. Thus, driving the Plastic Injection Moulding Machine Market revenue.
The Plastic Injection Moulding Machine Market segmentation, based on Machine Type includes Hydraulic, All-Electric, and Hybrid. The RO Purifier segment dominated the market, accounting for 58% of market revenue. Anticipated market growth is attributed to several key factors, including the capability to efficiently manufacture large quantities and intricate components, particularly for the automotive industry. The lower initial costs, coupled with the ability to produce precise molds and the heightened wear and tear resistance of hydraulic components, contribute to the appeal of hydraulic plastic injection molding machines. Moreover, their extensive application in industries such as automotive, marine, and aerospace, where substantial force is essential, further enhances their market prominence.
Figure 1: Plastic Injection Moulding Machine Market, by Machine Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Plastic Injection Moulding Machine Market segmentation, based on End-Use includes Packaging, Automotive, and Consumer Goods. The Automotive segment dominated the market, accounting for 58% of market revenue. The automotive sector dominated the market, driven by factors like repeatability, material compatibility, swift prototypes facilitated by rapid tooling, and achieving high precision and surface finish. Furthermore, the surge in automotive production coupled with a growing preference for lightweight automotive components is anticipated to drive the market's expansion. Key manufacturers of injection molding machines, such as BMB S.p.a, Milacron, KraussMaffei, and Arburg GmbH + Co KG, serve diverse industries including automotive, electronics, and packaging.
The Plastic Injection Moulding Machine Market segmentation, based on Clamping Force includes 0-200, 201-500, and Above 500. The 201-500 segment dominated the market, accounting for 60% of market revenue. These devices possess advanced technology, versatility, efficiency, and a performance-oriented design, among other noteworthy characteristics. Their extensive utilization spans various end-user industries, including the optical industry, packaging, automotive, and healthcare, among others. Consequently, these factors are expected to drive the development of the injection molding machines market.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Plastic Injection Moulding Machine market in North America can be attributed to several key factors. The surge in demand for all-electric injection molding machines, attributed to their energy-efficient, high-speed, and high-quality attributes, is expected to fuel the expansion of the injection molding machines market. All-electric injection molding machines constitute about half of the yearly sales of molding machines in the United States. Furthermore, the growing need for injection-molded plastic products in industries like automotive, healthcare, and others is projected to contribute to the overall expansion of the injection molding machines market.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: PLASTIC INJECTION MOULDING MACHINE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Plastic Injection Moulding Machine Market accounts for the second-largest market share as The European region has experienced a rise in the adoption of all-electric injection molding machines, driven by their notable attributes of high quality and energy efficiency. Notably, key industry players are actively focusing on delivering tailored injection molding machines, aligning with the specific requirements of their clients based on customization and machine types.
The economic growth in Europe has expanded the consumer market, indirectly benefiting the entire sector of injection-molded plastics. Furthermore, the growth of industries such as packaging, automotive, and electrical appliances is expected to heighten the demand for injection-molded plastics, thereby accelerating the market for injection-molding machines in Europe. Further, the German Plastic Injection Moulding Machine Market held the largest market share, and the UK Plastic Injection Moulding Machine Market was the fastest-growing market in the European region
The Asia-Pacific Plastic Injection Moulding Machine Market is expected to grow at the fastest CAGR from 2023 to 2032. The injection molding machines market in the Asia-Pacific region is poised for growth, with countries like China, India, and Indonesia expected to make significant contributions. This growth is driven by the increasing demand for injection-molded plastics products, particularly in response to the expanding packaging industry. Notably, the USDA Foreign Agricultural Service reported that India had over 12.79 million traditional retail grocery outlets in 2021, and this number was projected to surpass 13.05 million by mid-2023.
The flourishing retail market is anticipated to drive demand for flexible packaging, particularly in the food segment. Furthermore, key players such as NISSEI Plastic Industrial Co. Ltd. and Japan Steel Works Ltd. are implementing diverse strategies, including collaboration, acquisition, and others, to expedite the market's growth. Moreover, China’s Plastic Injection Moulding Machine Market held the largest market share, and the Indian Plastic Injection Moulding Machine Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Plastic Injection Moulding Machine market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Plastic Injection molding machine industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Plastic Injection Moulding Machine industry to benefit clients and increase the market sector. In recent years, the Plastic Injection Moulding Machine industry has offered some of the most significant advantages to the manufacturing and production processes. Major players in the Plastic Injection Moulding Machine Market, including Haitian International Holdings Limited (China), Chen Hsong Holdings Ltd. (China), Engel Austria GmbH (Austria), Sumitomo Heavy Industries Limited (Japan), Hillenbrand, Inc. (US), Japan Steel Works Ltd. (Japan), Arburg GmbH (Germany), Nissei Plastic Industrial Co., Ltd. (Japan), Husky Injection Molding Systems Ltd. (Canada), and KraussMaffei Group GmbH (Germany) are attempting to increase market demand by investing in research and development operations.
Sumitomo Heavy Industries Ltd (SHI) is a prominent industrial machinery manufacturer offering a diverse range of products, including pumps, turbines, power transmission and control equipment, cryogenic equipment, precision positioning equipment, precision forgings, medical machines, and equipment, material handling systems, logistics systems, pressure vessels, boilers, automated parking systems, water and sewage treatment systems, air pollution control equipment, process equipment, and food processing machinery.
The company, headquartered in Shinagawa-ku, Tokyo, Japan, has research centers in Yokosuka and Niihama and branch offices in Chubu, Kansai, and Kyushu in Japan. SHI operates globally, with a presence in Japan, East Asia, Southeast Asia, Oceania, Europe, Latin America, and North America. In February 2023, Sumitomo Heavy Industries (SHI) introduced the iM18E, a compact hybrid injection molding machine boasting a remarkable 20-ton capacity and the industry's smallest footprint at 88 by 30 inches. Specifically designed for electronic components such as connectors and precision gears, this innovative machine features a rapid injection speed of 600 mm/sec. Initially launched in Japan and select Asian markets, the iM18E signifies a significant advancement in efficient manufacturing technology.
Milacron Holdings, acquired by Hillenbrand in 2019, is now part of a global industrial company listed on the NYSE under the ticker symbol HI. Hillenbrand specializes in providing highly-engineered, mission-critical processing equipment and solutions to customers across more than 100 countries. The company's portfolio includes renowned industrial brands serving substantial end markets like durable plastics, food, and recycling. In May 2020, Milacron, under Hillenbrand, introduced a novel machinery upgrade rental option in collaboration with Equipment Finance Group (EFG), the exclusive financing partner. This equipment rental feature offers flexible durations of 24, 18, and 12 months. The initiative, officially launched on March 25, 2020, addresses the rising demand for temporary capacity expansion amid the COVID-19 pandemic, allowing manufacturers to meet increased product manufacturing needs.
July 2020: In July 2020, Eck Plastic Arts, a manufacturer specializing in plastic components for Original Equipment Manufacturers (OEMs), expanded its plastic injection molding capacity by incorporating a Haitian 1,012-ton Mars II S injection molding machine. The company primarily serves industrial equipment manufacturers in markets such as medical technology and defense equipment.
October 2020: In October 2020, Sumitomo Heavy Industries Ltd (SHI) introduced five new models to the SEEV-A-SHR series, featuring clamping forces of 1000, 1300, 1800, 3500, and 4500 kN. These models represent super high-speed electric injection molding machines.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 9.8 Billion |
| Market Size 2023 | USD 10.1 Billion |
| Market Size 2032 | USD 13.70 Billion |
| Compound Annual Growth Rate (CAGR) | 3.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Machine Type, End-Use Industry, Clamping Force, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Haitian International Holdings Limited (China), Chen Hsong Holdings Ltd. (China), Engel Austria GmbH (Austria), Sumitomo Heavy Industries Limited (Japan), Hillenbrand, Inc. (US), Japan Steel Works Ltd. (Japan), Arburg GmbH (Germany), Nissei Plastic Industrial Co., Ltd. (Japan), Husky Injection Molding Systems Ltd. (Canada), and KraussMaffei Group GmbH (Germany) |
| Key Market Opportunities | · Growing demand from the healthcare industry |
| Key Market Dynamics | · Growing demand in the automotive industry |
Frequently Asked Questions (FAQ) :
The Plastic Injection Moulding Machine Market size was valued at USD 9.8 Billion in 2022.
The Plastic Injection Moulding Machine Market is projected to grow at a CAGR of 3.80% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Haitian International Holdings Limited (China), Chen Hsong Holdings Ltd. (China), Engel Austria GmbH (Austria), Sumitomo Heavy Industries Limited (Japan), Hillenbrand, Inc. (US), Japan Steel Works Ltd. (Japan), Arburg GmbH (Germany), Nissei Plastic Industrial Co., Ltd. (Japan), Husky Injection Molding Systems Ltd. (Canada), and KraussMaffei Group GmbH (Germany)
The Hydraulic segment dominated the market in 2022.
The Automotive segment had the largest share in the global market.
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