Plastic Molding Machine forecast and CAGR
According to latest research by Fact.MR plastic molding machine market is expected to grow with single digit CAGR during forecast period 2021-2031. With increase in manufacturing of automotive components, exterior electrical panels, medical equipment along with dashboards will create demand for plastic molding machines during long run forecast period.
What are demand drivers for Plastic Molding Machine?
The plastic molding is fast and complicated process gathering popularity in production of plastic materials. Molding machines are used to manufacture different plastic products including telephone handsets, power tool housing, vehicle dashboards and bumpers, electric switches and many more thus cultivating significant demand opportunities in the market.
Increasing awareness for energy saving cause across world will lead the increased adoption demand for electric molding machines globally. Existence of immense advantages including energy savings, reusability and high precision, low maintenance cost are some notable causes for molding machines showcasing fastest growth projections.
Rapid growth in population, increasing industrialization and developments in technology have prospered the demand for automotive components in the market. With adoption of molding machines applications, market is witnessing increment in exterior and interior trim components, under hood applications and electronic subassemblies further predict to have positive impact on growth of market.
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Plastic molding machine technological analysis
On the bases of technology molding machines are segmented as hydraulic, electric, and hybrid machines. Hydraulic technology has major demand in heavy parts manufacturing industries like automotive and aerospace where high newton force is required to mold plastic.
Electric molding machines are controlled digitally which are operated with high speed and accuracy. These machines have major demand in electrical & electronic industry for manufacturing of small and complex parts. Consumer goods and automotive industry have spiking demand contributing to significant growth in the market.
Hybrid molding machines are predicted to increase demand as they combines the properties of both hydraulic and electric molding machine with showcasing upper hand capabilities. It nearly account more than 40 % of total market share and continues to thrive long run potential. These provide high pressure application compared to the hydraulic machines and also requires lesser energy rating.
Most of market players have strategized their investments in R&D of hybrid molding machine with lesser cost and high precision levels to combine the both hydraulic and electric machine operations smoothly.
Asia Pacific plastic Molding Machine Market
Asia Pacific region will dominate the global market over the forecast period, as presence of handful manufacturers in countries including China, Japan, India, and South Korea. These regions are continuously developing and infrastructure opportunities are simultaneously soaring, automotive and electric & electronic industry will bolster demand for molding machines owing to manufacturing of interior & exterior designs for electric boards.
Furthermore, most of key players are concentrating on manufacturing of hybrid molding machine which perform both hydraulic and electric machines. China has comparatively significant amount of manufacturers than the other prominent countries in this region. As rise in industrialization will tends to increase the demand for plastic molding machine owing to manufacture products in less time.
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Europe and North America Plastic Molding Machine Market
In Europe region, molding machine market is driven by the advanced infrastructure and well established R&D facilities along with trained workforce. In this region countries including Italy and Germany are showcasing demand for molding machines due to major manufacturing plants and developed automobile industry.
Further, North America manufacturing industries are investing lightweight automotive equipment to decrease overall weight of vehicle to gain prosperity in the dynamic market. The demand for molding machine is increasing with increasing market of small and complex parts in the automotive and electronics industry over these region. Therefore this escalating demand shall further drive market prominence in Europe and North America altogether.
Who are the key manufacturers of Plastic Molding Machines?
Some of the leading manufacturers of Plastic molding machines are,
- Sumitomo Heavy Industries Ltd.
- Engel Austria GmbH
- Haitian International Holdings Limited
- Chen Hsong Holdings Limited
- Arburg GmbH Co KG
- Nissei Plastic Industrial Co., Limited
- Husky Injection Molding Systems
- Krauss Maffei Group
- many others
Key market players are concentrating on manufacturing molding machines which uses less energy and workers along with elevated application offerings. Key players have strategized their presence in the market to flourish down the line product offering and heightened application offering.
An Adaptive Approach to Modern-day Research Needs
Plastic Molding Machine report highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Machine Type
- Hydraulic Molding
- Electric Molding
- Hybrid Molding
By Application Types
By Stroke Type
- 6 axis
- 3 axis
- 4 axis
- 6 axis
By End-use Industry
- Consumer Goods
- Electronics & Electricals
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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