India to witness strong demand for micro injection molding machines between 2021 and 2026
Dublin, Dec 24, 2021 (GLOBE NEWSWIRE) – The report “Global Injection Molding Machine Market by Type, Application and Region – Forecast to 2026” has been added to ResearchAndMarkets.com offer.
The global microinjection molding machine market is expected to reach USD 609 million by 2026, at a CAGR of 9.8% from USD 381 million in 2021.
The main drivers of this market are the growth of the automotive sector and the increasing demand for medical applications. The evolution towards nanotechnology and miniaturization in the medical industry is driving the demand for high precision molds that are efficient for performing medical procedures. In addition, the continuous automation of vehicles and the introduction of electric vehicles further increase the demand for high-precision parts to improve performance.
The main constraint to the growth of the market is due to the high technology of all-electric machines, the investment costs are high. Another disadvantage is the high maintenance cost. In the event of an engine failure, the entire system must be changed, resulting in considerably high maintenance costs. The global economic slowdown due to COVID-19 has also had an impact on the market. This disrupted the global supply chain, severely affecting the auto industry. To keep the coronavirus spreading, governments and international organizations have issued various regulations for industries and manufacturers.
The demand for micro-molded plastic parts in automotive, electronic and medical applications is driving the demand for micro-injection molding machines with clamping force of 30-40 tons.
Medical is estimated to be the largest application of Microinjection Molding Machine Market between 2021-2026
Technological advancements in the medical industry are fueling the use of micro-parts in its medical processes to improve the overall procedure with better outcomes for their patients. Intensive R&D further increases the demand for medical micro-parts, thus increasing the demand for micro injection molding machines in medical applications.
APAC is expected to be the largest micro injection molding machine market during the forecast period, in terms of value
In APAC, China is the largest market for micro injection molding machines. Rising domestic demand due to the rapid increase in manufacturing facilities and other business units is expected to continue to drive demand for micro-injection molding machines in the region. The increase in population and demand, along with initiatives for new technologies and products, is expected to make this region a promising market for micro injection molding machines. Population growth will have a significant impact on the automotive and electronics industry in the region.
This report segments the microinjection molding machine market on the basis of type, application, and region, and provides overall market value estimates in different regions. A detailed analysis of major industry players has been performed to provide information on their business overviews, products and services, key strategies, new product launches, expansions, and mergers and acquisitions associated with the Industrial Machinery market. micro-injection molding.
Main topics covered:
30-40 ton clamping force segment to dominate the micro injection molding machine market
Medical will be the largest application of micro injection molding machine market
Asia-Pacific accounted for the largest share of micro injection molding machine market in 2020
Attractive Opportunities For Micro Injection Molding Machine Manufacturers – Switching To Electric Vehicles To Drive Demand For Micro Injection Molding Machines
Micro Injection Molding Machine Market, By Region – Asia-Pacific will be the largest Micro Injection Molding Machine market between 2021-2026
Micro-injection molding machine market share, region vs. Application – Medical application is the biggest consumer of micro injection molding machines
Asia-Pacific Micro Injection Molding Machine Market, By Application and Country, 2020 – China accounts for largest market share
Attractiveness of micro injection molding machine market – India will witness strong demand for micro injection molding machine between 2021 and 2026
Growth in automotive industry fuels demand for micro injection molding machines
Growing demand for medical applications
Growth in healthcare spending and favorable reimbursement scenario
Anntong Ind. Co. Ltd.
Arburg GmbH & Co. KG
Babyplast (Rambaldi Group)
Boy Machines, Inc.
Engel Austria GmbH
Milacron Holdings Corp. (Hillenbrand)
Ningbo Shuangsheng Plastic Machinery Co. Ltd.
Nissei Plastic Industrial Co. Ltd.
Sodick Co. Ltd.
Sumitomo Heavy Industries Limited
Japan Steel Works Ltd.
Wittmann Battenfeld GmbH
For more information on this report, visit https://www.researchandmarkets.com/r/fnd9k5
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