Plastic Injection Molding Machine Market (By Technology: Hydraulic, Electric, Hybrid; By End-use: Automotive, Electronics, Packaging, Electronics, Construction) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global plastic injection molding machine market size was estimated at around USD 12.33 billion in 2023 and it is projected to hit around USD 19.8 billion by 2033, growing at a CAGR of 4.85% from 2024 to 2033. 

Key Pointers

• The Asia Pacific region led the global market with the largest market share of 40% in 2023.
• Central and South America are expected to grow at a CAGR of 5.15% from 2024 to 2033. 
• The hydraulic technology segment held the largest revenue share of 54% in 2023. 
• Electric plastic injection molding machine is anticipated to grow at the fastest CAGR of 5.54% from 2024 to 2033. 
• The automotive end-use segment registered the maximum market share of 31% in 2023.
• The medical segment is anticipated to grow at the fastest CAGR of 5.94% from 2024 to 2033.

Plastic Injection Molding Machine Market Overview

The plastic injection molding machine market encompasses a wide array of machines utilized in the production of plastic components across various industries. These machines serve a critical role in the manufacturing process by injecting molten plastic into a mold to create a desired shape.

Plastic Injection Molding Machine Market Growth Factors

The growth of the plastic injection molding machine market is propelled by an increasing demand from diverse end-use industries such as automotive, packaging, electronics, healthcare, and consumer goods drives market expansion. Secondly, ongoing technological advancements in machine efficiency, precision, and automation contribute to market growth by enhancing manufacturing capabilities. Additionally, the rising trend of customization in product design fuels demand for injection molding machines capable of producing tailored components. Moreover, the shift towards lightweight, durable, and cost-effective plastic components in various applications further boosts market growth. These growth factors collectively indicate a promising trajectory for the plastic injection molding machine market, with continued opportunities for innovation and expansion.

Report Scope of the Plastic Injection Molding Machine Market

Plastic Injection Molding Machine Market Trends:

• Shift towards Electric Machines: Growing preference for all-electric and hybrid injection molding machines due to their energy efficiency, reduced cycle times, and improved precision compared to traditional hydraulic machines.
• Demand for High-Speed Machines: Increasing need for high-speed injection molding machines to meet the requirements of industries such as packaging, where rapid production and short cycle times are critical.
• Focus on Sustainability: Rising awareness of environmental concerns drives demand for eco-friendly materials and sustainable manufacturing processes, leading to the development of recyclable plastics and energy-efficient machines.
• Customization and Personalization: Growing consumer demand for customized products prompts manufacturers to invest in injection molding machines capable of producing complex, customized components with high precision.
• Expansion in Emerging Markets: Market expansion in emerging economies driven by rapid industrialization, infrastructure development, and increasing investments in manufacturing sectors.
• Integration of Industry 4.0 Technologies: Adoption of Industry 4.0 technologies such as IoT, AI, and data analytics to optimize production processes, improve quality control, and enable predictive maintenance in injection molding operations.
• Focus on Additive Manufacturing: Integration of additive manufacturing techniques such as 3D printing with injection molding processes to enable rapid prototyping, tooling production, and customization of components.
• Regulatory Compliance and Standards: Increasing emphasis on regulatory compliance and adherence to quality standards in the production of plastic components, driving investments in advanced injection molding machines with enhanced quality control features.

Technology Insights

The hydraulic technology segment dominated the market in 2023 with the largest share of 54% in terms of revenue. The segment is expected to grow because of factors such as the ability to produce large quantities of parts, intricate parts for the automotive industry, lower initial costs, production of precise molds, higher wear and tear resistance of hydraulic parts, and widespread use in the automotive, marine, and aerospace industries where heavy force is required.

Electric plastic injection molding machine is anticipated to grow at the fastest CAGR of 5.57% from 2024 to 2033. These machines are highly efficient and require less start-up time and run-time compared to their hydraulic equivalents. Electric plastic injection molding machines use 50% to 75% less energy on average than their hydraulic equivalents because they are tighter, faster, cleaner, and repeatable process production equipment with little waste.

Electric plastic injection molding machines are run by digitally controlled servo motors with high speeds, aiding precise, faster, energy-efficient, and repeatable operations. The plastic injection molding process is predictable and can be replicated consistently, thereby providing high-quality components. Furthermore, with increased automated machines, the requirement for labor has been reduced, which in turn, is lowering labor costs and increasing profit margins.

A hybrid plastic injection molding machine combines the best of both hydraulic and electric injection molding machines. A hybrid injection molding machine offers high clamping force of the hydraulic machines and high precision, energy efficiency, reduced noise, and repeatability of the electric injection molding machines, leading to better performance for both thick- and thin-walled parts.

End-use Insights

The automotive end-use segment dominated the plastic injection molding market in 2023 with the largest revenue share of 31% owing to factors such as material compatibility, high precision, repeatability, and surface finish. Furthermore, increasing demand for lightweight automotive components and rising automotive production are expected to propel market growth.

In the automotive industry, plastic injection molding machines are used to manufacture the most complex-shaped critical parts. A plastic injection molding machine is used to produce a variety of automotive parts such as bumpers, electrical housings, exterior body panels, and dashboards. Injection molding machines are used in the automotive industry for manufacturing exterior parts such as door panels, car door trim, bumpers, trunk trims rear & front covering, floor rails, sensor holders, grilles, wheel arches, and fenders/mudguards. These aforementioned factors are anticipated to propel market growth throughout the forecast period.

The medical segment is anticipated to grow at the fastest CAGR of 5.94% over the forecast period. Plastic injection molding machines are used in the medical industry for manufacturing small and complex items such as dental implants, prosthetic replacements, endoscopic tools, tweezers, scissors, implantable components, orthopedics, and drug delivery equipment. The increasing demand for medical disposables, technological developments, and rising plastic consumption in healthcare applications are driving the industry growth for the plastic injection molding machine industry.

Plastic injection molding machine is used to manufacture consumer goods such as personal hygiene products, houseware, travel accessories, furniture, toys, cosmetics, and convenience goods. In the past few years, most traditional materials such as glass, wood, and metal are being replaced by high-quality plastics, thereby augmenting the demand for plastic injection molding machines.

Regional Insights

The Asia Pacific region dominated the market in 2023 with the largest share of 40% in terms of revenue owing to the massive investments by the governments of different countries in the region for the development of public infrastructure and expansion of residential construction. Furthermore, there is rising awareness regarding energy saving globally, which is expected to further augment the market demand.

Growing demand for on-the-go packaged products owing to increasing purchasing power and busy lifestyle in the North America region is expected to have a positive impact on the packaging industry growth in the region. A plastic injection molding machine is used for manufacturing various packaging products such as containers, bottles, caps & closures, and covers. Growth in the packaging industry coupled with the rising adoption of plastic injection molding machines in this region for manufacturing packaging products is expected to drive market growth.

Europe held the second-largest revenue share in the market in 2023. The flourishing electronics sector, primarily due to the growing adoption of flexible electronics in Europe, has led to a new application scope in the region. The plastic injection molding machine is used to manufacture electronic components such as sensors, meters, testing equipment, electronic connectors, and processing equipment. The flourishing electronics industry in the region is anticipated to contribute to the growth of the market in Europe over the forecast period.

During the projected period, Central and South America are expected to grow at a CAGR of 5.15%. Demand for plastic injection molding machines is anticipated to witness substantial growth owing to the increasing demand for manufacturing facilities in the emerging economies of the region. This is projected to have a positive impact on industrial construction, thereby boosting the industry demand over the forecast period.

Plastic Injection Molding Machine Market Key Companies

• Arburg GmbH + Co KG
• HAITIAN INTERNATIONAL
• KraussMaffei
• Milacron
• NISSEI PLASTIC INDUSTRIAL CO., LTD.
• ENGEL AUSTRIA GmbH
• Chen Hsong Holdings Limited
• UBE Machinery Inc.
• Husky Technologies
• WITTMANN Technology GmbH

Plastic Injection Molding Machine Market Segmentation:

By Technology 

• Hydraulic
• Electric
• Hybrid

By End-use 

• Automotive
• Consumer Goods
• Packaging
• Electronics
• Construction
• Medical
• Others

By Region

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa