Top 15 Injection Molding Machine Companies, Worldwide 2024

The Injection Molding Machine Companies quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Injection Molding Machine. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and industry trends. MarketsandMarkets 360 Quadrants evaluated over 60 Injection Molding Machine Companies of which the Top 15 Injection Molding Machine Companies were categorized and recognized as the quadrant leaders.

An injection molding machine consists of a heated barrel equipped with a reciprocating screw (driven by hydraulic or electric motor) which feeds the molten polymer into a temperature controlled split mold via a channel system of gates and runners. The screw units (plasticizes) the polymer and acts as a ram during the injection phase. The screw action also provides additional heating by virtue of shearing action on the polymer. The polymer is injected into a mold tool that defines the shape of the molded part.

The 360 Quadrant efficiently maps the Injection Molding Machine Companies based on criteria such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the Injection Molding Machine quadrant. While the top criteria for product footprint evaluation included Materials (Plastic, Rubber, Metal, Ceramic), Type of Machines (Hydraulic, All-Electric, Hybrid), End-Use Industry (Automotive, Consumer Goods, Packaging, Healthcare, Electronics, Others).

Key trends highlighted in 360 Quadrants:

• The injection molding machine industry has seen steady growth in recent years. By 2027, the global market is expected to reach USD 12.4 billion, growing at a CAGR of 4.50% from USD 10.4 billion valuation in 2023. This growth can be attributed to rising demand across end-use sectors like automotive, consumer goods, packaging, healthcare, and electronics. Key drivers fostering the growth of the market include increasing healthcare needs, rapid industrialization in developing economies, and growing use of plastic molds in electric vehicle manufacturing.
• Asia Pacific currently leads the global market in both volume and value, followed by Europe and North America. The growth in Asia Pacific region is majorly due to the increased demands from the emerging economies in the region that are witnessing high demand from the automotive, consumer goods, packaging, medical, and other industries. Owing to this the Asia Pacific region is expected to largest and fastest growing market for injection molding machine market. This high growth in the emerging economies provides a multitude of opportunities for injection molding machine companies.
• Plastic was the dominant material, accounting for nearly 85.2% of the market in 2023. This is due to the versatility and cost-effectiveness of plastic injection molding for high-volume production of automotive, packaging, consumer goods, healthcare, and electronics parts. With the widespread and growing use of plastic globally, the plastic segment is expected to see the fastest growth rate from 2023 to 2027. Meanwhile, rubber injection molding holds a smaller but substantial share of the overall market, as the second largest segment in 2023, mostly because of continued demand for rubber components and products. While plastics lead the market now, there are growth opportunities across all injection molded material types as injection molding machine companies want to produce diverse components through this high-efficiency process.
• Hydraulic injection molding machines have historically dominated the global market due to their lower costs, longer service life, technical advantages, and widespread use. However, all-electric injection molding machines are expected to see the fastest growth at a CAGR of nearly 4.00% over the forecast period. This can be attributed to its ability to provide higher clamping force for larger parts, increased repeatability, enhanced precision, reduced downtime, and energy-efficient features. The primary hurdle lies in the substantial initial investment required. For injection molding machine companies, this shift implies a need to adapt to the evolving market demands. Injection Molding Machine Companies that have traditionally focused on hydraulic machines may face challenges in maintaining their market share unless they invest in and integrate all-electric technologies. Embracing the growing demand for all-electric machines with their advantages in higher clamping force, increased repeatability, enhanced precision, reduced downtime, and energy efficiency could be crucial for staying competitive.
• The injection molding machine market is highly competitive, with both global and regional injection molding machine companies holding a substantial share. The key injection molding machine companies profiled in the quadrant include Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), ENGEL Austria GmbH (Austria), Hillenbrand, Inc. (USA), and others. They consistently employ developmental strategies such as expansions, product launches, acquisitions, and contracts & agreements to strengthen their positions in the injection molding machine market. For example, in May 2023, KraussMaffei introduced a special edition of its proven CX series. The special edition, named "#185," included a package of attractive additional features that would normally incur charges but were integrated at no extra cost. This allowed users to enhance the quality and efficiency of injection molding applications in the clamping force range from 500 to 4200 kN, simultaneously achieving an immediate and noticeable reduction in operating costs.
• The healthcare industry is rapidly adopting injection molding technology to manufacture medical devices and products. This growth is driven by the benefits injection molding provides for producing disposable and durable goods like drug delivery systems, blood glucose tests, and mobility aids. As the population ages, the demand rises for convenient, lightweight, and cost-effective medical products. Injection molding allows mass production of these goods with consistency. The process is ideal for items used frequently in hospitals and homes. With more disposable and durable medical goods, injection molding machine companies see increasing opportunities in the healthcare sector. This rising demand from healthcare therefore promises growth for the injection molding machine market.