Injection Moulding Machines Market to Rise at 4.9% CAGR, Rising Demand from Packaging Industry to Drive the Market: Fortune Business Insights

The global injection moulding machines market was worth US$ 14.7 Bn in 2018 and is estimated to reach US$ 21.4 Bn by 2026. Injection moulding machines are used in the manufacturing of durable and lightweight products. Automobile and packaging sectors exhibit the highest demand for these machines on the account of the rising adoption of plastic products while manufacturing automobiles. Furthermore, the demand for injection moulding machines is increasing in developing countries such as India and China. For instance, the packaging industry in India is rapidly growing by exhibiting a CAGR of 22-23% every year.

Against this backdrop, the injection moulding machines market growth is likely to expand in the forecast years. Precision moulding is now gaining popularity as it helps engineers to monitor the injection process and make changes in real-time. Furthermore, rising interest in sustainability is encouraging companies to focus on energy efficiency. Such trends are expected to play an integral role in product development, which in turn, will help the market to flourish.

The report encompasses a detailed analysis of some of the leading players functioning in the global injection moulding machines market. These include:

Haitian International
Husky Injection Molding Systems Ltd.
Chen Hsong Holdings Limited
Japan Steel Works, Ltd.
Engel Austria GmbH
Ningbo KEBIDA Plastic Machinery

From a geographical standpoint, Asia Pacific is anticipated to drive the global injection moulding machines market through the forecast years. The growth is attributable to the presence of a large number of firms manufacturing injection molding machines. Several large-sized firms are planning to acquire mid-scale and small-sized firms to expand their product portfolio and improve quality. This will further help large-sized companies to strengthen their footprint across the countries in Asia Pacific, thereby impacting the injection moulding machines market size. Following Asia Pacific, North America is expected to hold a considerable position in the global injection moulding machines market share. In 2018, the market was valued at US$ 3.3 Bn and is the second-most leading region in the market.

Apart from Asia Pacific and North America, Europe is also expected to witness good growth potential over the years to come. Implementation of new rules regarding the rising population is the primary factor responsible for driving the market in Europe.