Novel use of plastic over metal and iron for the molding machines production are expected to ravel the Global Robotic Injection Molding Machine Market
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post-pandemic times.
The global Robotic Injection Molding Machines market is anticipated to increase at a 4.6% CAGR to reach value USD 22.03 billion in 2030
The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in the rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the global robotic injection molding machines market. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.
These developments are hampering operations resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries.
Ever since the outbreak of the global crisis, the impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global robotic injection molding machines market towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, the global robotic injection molding machines market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global robotic injection molding machines market.
All-Electric Segment to Sustain the fastest Revenues During the Forecast Period
The all-electric injection molding machine is expected to show the fastest growth during the forecast period. It utilizes an electric servo motor powering gears, racks, and ball screws for driving the machines. These are faster, noiseless, and more accurate as compared to the other injection molding machines.
These can save energy up to 50-70% as compared to hydraulic injection molding machines, lowers the use of chilled water, decrease preventive and housekeeping maintenance, less energy, oil consumption, and low repair rate. Despite many advantages, one of the disadvantages is that these are more expensive.
Plastic Segment to be the largest growing product segment
Plastic is commonly used in the injection molding process such as nylon, polypropylene, polystyrene, polyethylene. Plastic products are manufactured by using superior quality raw materials. The manufacturing process involves heating the polymer at a high temperature till it melts into a liquid and pressuring it till it converts into the mold. Despite its high tooling cost, the injection molding process is widely used in the manufacturing of plastic products.
Automotive Sector is Expected to be the Largest End-User Industry
The demand for injection molding machines in the automotive sector is largest as these machines are primarily used in the manufacturing of automobile parts interior wrapping, and assembly parts, such as automotive exteriors, car lenses, interior components, under-the-hood components, and filter components.
A shift from using steel and iron as raw materials to plastics in the automotive industry is expected to drive the market during the forecast period.
APAC to Sweep the Largest Revenue Streams Followed by Europe
Asia Pacific region is a lucrative regional market for the global robotic injection molding machines market as countries such as China are one of the largest producers of robotic injection molding machines. Several frontline companies are established in China and therefore the region is one of the leading regional markets for the global robotic injection molding machines market. The increasing population along with the use of new technologies, increasing living standards, rising disposable incomes in this region is some of the driving factors for the increasing demand in Asia-Pacific.
Further, end-use applications such as the automotive, packaging, and consumer goods industries are one of the fastest-growing end-use industries which in turn is favoring rampant expansion of the global robotic injection molding machines market across the APAC region.
The emergence and rising demand for the large-tonnage injection molding machine can offer new opportunities in the global robotic injection molding machine market
Injection molding is the process of manufacturing plastic parts and products by the use of thermoplastics and thermosetting materials.
Robotic machines facilitate transportation and manipulation capabilities that are more complex as compared to the basic material handling processes. These machines are used to secure the product from a supply position, transport it to the machine, interact with the machine and then remove the finished part from the machine.
Despite a minor growth dip owing to Covid-19 implications, the global robotic injection molding machine market is expected to recoup growth and register over USD 16 billion by 2028 ticking at a CAGR of 5.0%.
With the increasing demand for injection molding machines in the end-user industries such as automotive, consumer goods, packaging, healthcare, electrical & electronics, and others, growing demand from the healthcare sector is expected to ravel new growth opportunities in the global robotic injection molding machine market during the forecast period.
In present times, rapid industrialization in the growing economies like India, China, and Thailand and a rise in the demand for plastic molds in the electric vehicles segment are also serving as appropriate advantages, thus fostering growth in the global robotic injection molding machine market.
However, due to the use of high technology in all-electric machines, investments and maintenance costs are high. Another disadvantage with these machines is their extraordinary care in case of system failure or waste. If the engine gets failed, the entire machine has to be changed, making its overall maintenance cost high.
Forward-looking players in the global robotic injection molding machine market are furthering investments towards developing advanced robotic injection molding machines to address current limitations of high maintenance costs and high investments due to the use of high technology.
The major players of the global robotic injection molding machine market are Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Hillenbrand, Inc. (the US), and others.
The robotic injection molding machine market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst the Covid-19 impact.
Latest Innovations in the Global Robotic Injection Molding Machine Market: A Snapshot
- In October 2020, Sumitomo Heavy Industries Ltd (SHI) launched five kinds of models to SEEV-A-SHR series with a clamping force of a thousand,1300,1800,3500,4500 kN. This area unit super high-speed electrical injection molding machines.
- In September 2020, for the production of thin-walled containers, buckets, and matching lids, ENGEL launched the new hybrid machines, named, e-speed injection molding machines (2800 kN).
- In November 2019, Milacron Holdings Corp. was taken by Hillenbrand, Inc. at or so approximately $1.9 billion.
- May 2019, In May 2019, Absolute Haitian Corporation, the sales and service partner of Haitian International, expanded its North American operations with the opening of a 116,000-sq.-ft. a facility in Moncks Corner, South Carolina, US.
Robotic Injection Molding Machines Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 16 billion|
|Growth Rate||CAGR of 5.0% during 2021-2028|
|Segment Covered||Machine Type, Clamping Force, Product, End-Use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Hillenbrand, Inc. (the US), and others.|
Key Segments of the Global Robotic Injection Molding Machines Market
Machine Type Overview, 2018-2028 (USD Billion)
Clamping Force Overview, 2018-2028 (USD Billion)
- 0-200 Tons Force
- 200-500 Tons Force
- Above 500 Tons Force
Product Overview, 2018-2028 (USD Billion)
End-Use Industry Overview, 2018-2028 (USD Billion)
- Consumer Goods
- Electricals & Electronics
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa