Global Injection Moulding Machine Market Outlook, 2022-2027
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Global Injection Moulding Machine Market Report and Forecast 2022-2027
According to the report, the global Injection Moulding Machine Market attained a value of about USD 14.88 billion in 2021. Aided by the growing automotive industry, the market is projected to further grow at a CAGR of 3.4% between 2022 and 2027, to reach a value of USD 18.61 billion by 2027.
Injection moulding is known as a production method that permits parts to be manufactured in huge volumes. It functions by using a mould into which molten materials are injected. It is usually employed as a mass manufacturing procedure to produce thousands of identical items. Materials used for injection moulding include glasses, metals, confections, and elastomers, even though it is most frequently applied with thermosetting and thermoplastic polymers.
Machines for injection moulding come in different types, including servo motor powered motorised machines, hydraulic motor powered hydraulic machines, and hybrid machines that are powered by a combination of servo and hydraulic motors.
The structure of an injection moulding machine comprises of an injection unit that transports the desired materials in molten form into the mould, and a clamping unit for operating the mould. There is increasing demand from the healthcare industry coupled with rapid industrialisation in emerging economies like India and Thailand and surging demand for plastic moulds in electric vehicles. This is expected to bolster the market demand for injection moulding machines.
The global injection moulding machine market is expected to witness growth over the coming years due to the growing adoption of injection moulded components in various industries such as electronics, automotive, packaging, and consumer products. The increasing adoption of CNC in injection moulding machines is further providing growth to the popularity of models that allow high-speed injection under programmed control.
Several specialised machines, like models that form light guide plates that are used for LCD monitors, are also employed. This is further expected to propel the market growth of injection moulding machines during the forecast period. Moreover, the surging demand for the development of floor space among several industries has forced to the growth of renovation projects and new construction.
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