Global Injection Moulding Machine Market Outlook Report - Market Size, Share Analysis and Forecast (2024-2032)

Global Injection Moulding Machine Market Size

The global injection moulding machine market size was valued at USD 16.45 billion in 2023. The market is further projected to grow at a CAGR of 3.7% between 2024 and 2032, reaching a value of USD 22.75 billion by 2032.

Key Takeaways

• The plastic segment led the market, accounting for over 76.6% share of global revenue in 2022.

• USA had 434 contract injection moulding manufacturing businesses as of 2023.

• Globally, over 5 million metric tons of plastic parts are produced using injection moulding each year.

An injection moulding machine is a device that produces plastic parts by injecting molten material into a mould. The injection unit and the clamping unit are the two primary components of the machine. The injection unit melts the plastic granules and injects them into the mould cavity under high pressure. The clamping unit holds the mould closed and applies force to keep the parts in shape. The moulded parts are then ejected and cooled.

Some of the factors driving the injection moulding machine market growth are the increasing demand for plastic products in various industries such as automotive, packaging, medical, and consumer goods and the technological advancements in injection moulding machines that improve their efficiency, productivity, and quality. Moreover, the rising awareness about the environmental benefits of using plastic as a substitute for other materials and the supportive government policies and initiatives that promote the adoption of injection moulding machines is leading to injection moulding machine market development.

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Key Trends and Developments

Increasing adoption of electric and hybrid machines, rising demand from packaging industries, and advancements in automation have expanded the injection moulding machine market size

Global Injection Moulding Machine Market Trends

The injection moulding machines market outlook is being positively shaped due to the rising demand for such machines by automotive industries across regions. Injection moulding machines are used to manufacture a wide range of vehicle components, including bumpers, electrical housings, exterior body panels, and dashboards.

Furthermore, rising research and development expenditure has led to the development of new technologies such as advanced hydraulic systems for large parts, electrical systems for small and complex components, and hybrid systems that can operate for both large and small parts, thereby saving costs. These factors are expected to boost injection moulding machines market growth in the coming years.

Injection moulding machines are also used to manufacture shipment containers, PET bottles, containers, and more to contain, protect and handle several items. The process of injection moulding is versatile, offers consistent results and renders efficient packaging component cycle times. The trend of reduced wall thickness in packaging market requires lower clamping and injection pressures and leads to increased demand for injection moulding machines.

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Injection Moulding Machine Industry Segmentation

Global Injection Moulding Machine Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Automotive segment holds a significant market share due to increasing demand for high-performance plastic components for producing lightweight cars

Amongst end users, automotive segment is anticipated to lead the injection moulding machine market share in the forecast period due to the increasing production of lightweight and fuel-efficient vehicles, which require high-performance plastic components. Injection moulding machines are used to manufacture various automotive parts, such as bumpers, dashboards, door panels, lighting systems, and engine covers.

The demand for injection moulding machines in the packaging industry is driven by the increasing demand for plastic packaging products, such as bottles, caps, containers, trays, and films. Injection moulding machines are used to produce various types of plastic packaging products with high durability, flexibility, and recyclability. The packaging segment is expected to witness a steady growth rate due to the growing awareness of environmental issues, such as plastic waste and pollution, and the adoption of biodegradable and bio-based plastics.

According to injection moulding machine market analysis, electrical and electronics segment may witness growth due to the increasing demand for plastic products, such as connectors, switches, sockets, circuit boards, and cables. Injection moulding machines are used to produce various types of plastic products with high precision, accuracy, and functionality.

The healthcare segment is the fastest-growing segment of the global injection moulding machine market because of the increasing demand for plastic products, such as syringes, vials, tubes, implants, and devices. Injection moulding machines are used to produce various types of plastic products with high hygiene, safety, and biocompatibility. The healthcare segment is expected to witness a robust growth rate owing to the rising demand for medical supplies and equipment.

Hydraulic injection moulding machines are widely used due to their high injection pressure and ability to produce larger components

Hydraulic injection moulding machines use hydraulic fluid to power the movement of the injection unit and the clamping unit. The injection moulding machine market estimates that hydraulic injection moulding machines are the most widely used type of injection moulding machines as they offer high injection pressure, fast cycle time, and high clamping force, which are suitable for producing large and complex parts.

All-electric injection moulding machines, on the other hand, use electric motors to power the movement of the injection unit and the clamping unit. All-electric injection moulding machines are the most energy-efficient and environmentally friendly type of injection moulding machines, as they do not use any hydraulic fluid and generate no emissions. All-electric injection moulding machines also offer high precision, low noise level, and low maintenance cost, which can increase the injection moulding machine market growth.

Hybrid injection moulding machines offer the advantages of both hydraulic and all-electric injection moulding machines, such as high injection pressure, fast cycle time, high clamping force, low energy consumption, low noise level, and low maintenance cost. Hybrid injection moulding machines use hydraulic fluid to power the clamping unit and electric motors to power the injection unit. According to injection moulding machine market report, hybrid injection moulding machines are gaining popularity, especially in the automotive industry, where they are used to produce lightweight and high-strength parts.

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Injection Molding Machine Market Share

The injection molding machine market has been witnessing steady growth, driven by increasing demand across various industries, including automotive, packaging, consumer goods, healthcare, and electronics. Injection molding machines are essential for producing plastic parts with precision and efficiency, contributing significantly to the market's overall share.

Market Share by End-Use Industry

The automotive industry is one of the leading contributors to the injection molding machine market share. These machines are widely used to manufacture automotive components, including bumpers, dashboards, and various other plastic parts that require high precision and durability. The rising demand for lightweight vehicles, driven by the need for fuel efficiency and reduced emissions, further boosts the adoption of injection molding machines in this sector.

The packaging industry also plays a crucial role in the injection molding machine market. With the growing demand for sustainable and recyclable packaging solutions, manufacturers are increasingly adopting injection molding machines to produce high-quality, lightweight packaging materials. The healthcare sector, particularly in the production of medical devices and equipment, is another key contributor to the market share, given the stringent requirements for precision and hygiene.

Market Share by Machine Type

Hydraulic injection molding machines hold a significant share of the market, owing to their high efficiency and ability to handle large-scale production. However, electric injection molding machines are gaining traction due to their energy efficiency, precision, and lower operational costs. Hybrid machines, which combine the benefits of both hydraulic and electric machines, are also witnessing increased adoption, particularly in industries that require high-speed production with consistent quality.

Regional Market Share

Asia-Pacific dominates the global injection molding machine market share, primarily due to the presence of a large number of manufacturing industries in countries like China, India, and Japan. The region's robust industrial base, coupled with growing investments in advanced manufacturing technologies, contributes to its leading position in the market. North America and Europe follow closely, with significant market shares driven by demand in the automotive and healthcare sectors.

Competitive Landscape of Injection Moulding Machine Industry

Injection moulding machine companies are establishing strategic partnerships, acquisitions, and launching new products, to cater to the diverse needs of the consumers

Other key players in the global injection moulding machine market include ENGEL AUSTRIA GmbH and Sumitomo Heavy Industries, Ltd, among others.

Global Injection Moulding Machine Market Analysis by Region

North America is one of the prominent regions due to increasing demand for plastic products across industries

North America is one of the leading regions in the injection moulding machine market due to the presence of established players, high adoption of advanced technologies, and increasing demand for plastic products in sectors such as automotive, packaging, medical, and consumer goods. The US is the dominant country in the region, followed by Canada. Some of the key players occupying majority of injection moulding machine market share in North America are Husky Injection Molding Systems Ltd., Milacron Holdings Corp., and Engel Austria GmbH.

The robust automotive industry of Asia Pacific is one of the key drivers propelling the value of injection moulding machines market in this region. Injection moulding machines are used in various automotive components, including lighting systems, bumpers, instrument panels, rear bumpers and still covers. The rising demand for automobiles in the major Asian countries is boosting the sales of injection moulding machines in the region. The region also offers low-cost labour, raw materials, and energy, which attract foreign investments and expansions. The increasing demand for plastic products in sectors such as construction, electronics, agriculture, and consumer goods are also fuelling the injection moulding machine market growth in the region.

The market in Middle East and African region is expected to witness a significant growth rate owing to the increasing investments in infrastructure, energy, and petrochemical sectors, which create a demand for plastic products. The region also benefits from the availability of natural gas and oil, which are the key raw materials for plastic production. Some of the key players operating in the Middle East and Africa injection moulding machine market are Arburg GmbH + Co KG, KraussMaffei Group GmbH, Negri Bossi S.p.A., and Wittmann Battenfeld GmbH.

Key Highlights of the Report

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Injection Moulding Machine Market Report Snapshots

Injection Moulding Machine Market Size

Injection Moulding Machine Market Trends

Injection Moulding Machine Market Share

Injection Moulding Machine Companies

Injection Moulding Machine Market Regional Analysis