The growing demand in the automobile industry, technological advancements, and the rising demand from the packaging industry are driving the need for the market.
Hybrid Injection Molding Machine Market Size – USD 16.76 Billion in 2021, Growth - CAGR of 3.7%, Trends – High demand from developing nations.
The global Hybrid Injection Molding Machine Market is forecast to reach USD 23.31 Billion by 2030, according to a new report by Reports and Data. It is expected that the superior structural properties of Hybrid Injection Molding Machine, growth modernization, and increased demand from existing and emerging applications would boost demand for the machine globally. The growing demand for injection-molded plastic products is expected to drive the adoption of molding machines for injection. Also, it is anticipated that increased focus on the use of energy-efficient devices would propel the growth of the global Hybrid Injection Molding Machine market. Besides, it is estimated that the development of the hybrid machine and the surge in the use of all-electric machines will fuel global market growth over the coming years. Growing information about energy saving also propels the market growth. Moreover, higher production levels and rapid production by injection molding are expected to cater for growth in the industry.
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Top Companies: Sumitomo (SHI) Demag Plastics Machinery GmbH, Arburg GmbH + Co KG, Chen Hsong Holdings Ltd., Husky Injection Molding Systems Ltd., Haitian International Holdings Ltd., Milacron, Nissel Plastic Industrial Co. Ltd., ENGEL Austria GmbH, Japan Steel Works Limited, and Toyo Machinery Metal Co. Ltd., among others.
Further Key Finding from the Report Suggestion:
- The rapid urbanization, rising government spending on packaged goods, and the surge in e-commerce and integrated retailing boost the growth of the packaging industry. The competitive environment between manufacturers has resulted in the adoption of various packaging types. This drives the market and is anticipated to grow further with a CAGR of 3.7%.
- The Asia Pacific emerged as the leading market. The growing demand from the automotive sector, mainly due to the rising need for lightweight vehicles along with the numbers of domestic manufacturers in the region assisted by government guidelines, will drive growth in the market.
- North America follows APAC in terms of market share, and the automobile segment dominated the market. The region has excellent growth potential in the forecasted period and is expected to grow from 2019 to 2027 at an estimated 3.8% CAGR.
- The U.S., because of its highly developed technology industries, advanced processing capabilities, combined with a highly skilled workforce and growing RD initiatives, is among the leading countries in the market for Hybrid Injection Molding Machines. Developing applications and strong demand encourage producers to concentrate on new technologies to expand the market
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Hybrid Injection Molding Machine Market is segmented into:
Material Outlook (Revenue, USD Billion; 2019–2030)
- Plastic
- Metal
Technology Outlook (Revenue, USD Billion; 2019–2030)
- Hydraulic
- Electric
- Hybrid
Application Outlook (Revenue, USD Billion; 2019–2030)
- Automotive
- Consumer Goods
- Packaging
- Electronics
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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