SAN FRANCISCO, January 10, 2019
SAN FRANCISCO, January 10, 2019 /PRNewswire/ --
The global injection molding machine market size is anticipated to be valued at USD 22.45 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 3.5% over the forecast period. Growing demand for lightweight and complex automotive and electronic components is projected to enhance the requirement for Injection Molding Machines (IMM).
Rising industrialization, technological developments, rapid urbanization, and growth in infrastructure are anticipated to augment demand for IMM. Increasing mass production in automotive, consumer goods, and electronics industries are expected to propel the global injection molding machine market over the forecast period.
On the basis of materials, IMM market is segmented into plastic and metal injection molding machines. In terms of revenue, the plastic segment valued at USD 12.99 billion in 2017. It is projected to hold the largest market share over the forecast period.
Automotive segment was valued at USD 4.97 billion in 2017 and is projected to register significant expansion in the forthcoming years. Injection molding machines find a range of applications in automotive industry. They are used to manufacture the most complex and critical parts including interior and exterior trim components, electronic subassemblies, and under-hood application components. Consumable goods are among the largest segment where IMMs are used to manufacture personal hygiene products, housewares, cosmetics, and convenience goods.
In terms of technology, electric injection molding machine market accounted for USD 5.8 billion in 2017 and is anticipated to witness robust growth over the forecast period. High adoption of electric injection molding machine for diverse applications across electronics, packaging, and healthcare industries is likely to boost the demand over the forecast period. In 2017, the electrically operated machines segment accounted for around 34.00% of the global injection molding machine market share. High adoption of technology coupled with production costs of these manufacturing processes over the existing processes is projected to encourage market growth.
Browse full research report with TOC on "Injection Molding Machine Market Size, Share & Trends Analysis Report By Materials (Plastic, Metal), By Technology (Hydraulic, Electric), By End Use (Automotive, Consumer Goods), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/injection-molding-machine-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global injection molding machine market on the basis of material, technology, end use and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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