Hybrid injection molding machines market to witness increasing adoption in emerging economies, says Market.us

Injection-molded components are expected to become increasingly prevalent across various industries such as electronics, automotive, packaging, and consumer goods. 

According to Market.us, “The Hybrid Injection Molding Machines Market is projected to reach a valuation of USD 54.49 Billion by 2032 at a CAGR of 20%, from USD 8.8 Billion in 2022.” 

In 2022, the Asia Pacific region was responsible for 35.0% of the total revenue. Due to massive investments made by different countries in the region, the Asia Pacific region will experience growth during the forecast period.

Anurag Sharma, a senior research analyst at Market.us, said, “Market revenue growth is being spurred on by an uptick in demand for lightweight and durable products as well as expansion across various end-use industries.”

The Covid-19 pandemic caused serious damage to vital businesses and prevented investments in new technologies such as robotics or job growth. The business was affected by the pandemic because it reduced the workforce in industrial plants. Injection-molded products in medical equipment will see an increase in demand following the epidemic. These machines will be in high demand over the forecast period.

Due to America’s rising purchasing power and busy lifestyle, packaged products that can be taken on the go are expected to see a boost in demand. This bodes well for the packaging industry in the U.S., which is forecast to experience growth over the forecast period as well as an uptick in injection-molded packaging items.

The country has seen an uptick in renovation and new construction projects due to the growing need for more floor space across various industries. This growth will be further supported by large-scale infrastructure investments like hotels and hospitals being constructed throughout Los Angeles, New York, Missouri, and New York – leading to increased demand for injection-molded components that will have a beneficial effect on market expansion in these states.

The U.S. market has experienced an uptick in electric vehicle penetration due to factors such as access to new technologies, the availability of skilled personnel, and increased R&D initiatives. There is also an increasing demand for injection molded parts in both electric and conventional vehicles – these components can be utilized either inside or outside the vehicle.

Plastics dominated the industry in 2021, accounting for 75.0% of global revenue. This segment is projected to experience rapid growth due to its lightweight and cost-effective properties. 

Plastic products are highly precise and repeatable while coming at a low price per part. Furthermore, injection molding machines can produce intricate geometric shapes in large volumes faster than other methods while decreasing labor costs.

Revenue growth for the metal segment is forecasted to reach 4.3% CAGR between 2021-2030, due to their superior surface finish, high resistance, and ability to manufacture complex parts. Rubber and ceramic materials can also be utilized in injection molding machine processes. 

The rubber segment is ideal for high-volume production of small-to-medium-sized parts with tight dimensional tolerances as well as homogenous components; it has become increasingly popular around the world due to its ability to fabricate complex elastomeric components within short cycle times.

Injection molding service providers can benefit from the rise of electric cars as a business opportunity. Injection molding is used to manufacture components for electric drivetrains, brakes, and clutching systems such as gears and seals. Over the forecast period, plastic will increasingly replace metal in automobiles to fuel growth within this market.

In 2021, hydraulics accounted for more than 50% of global revenue. This market is forecast to grow due to factors such as its capacity for producing large volumes of parts, complex designs for automotive use, lower initial costs, precise molds with better wear resistance, and widespread adoption in aerospace, marine, automotive and aerospace industries that require heavy force applications.

Hybrid Injection Molding Machines Market Key Players:

• Arburg GmbH + Co KG
• Haitian International Holdings Limited
• Milacron
• Nissei Plastic Industrial Co., Limited
• Engel Austria GmbH
• Sumitomo (SHI) Demag Plastics Machinery GmbH
• Chen Hsong Holdings Limited