NEW YORK, June 16, 2016 /PRNewswire/ -- The market size of injection molding machine is expected to reach USD 4.86 billion by 2021, registering a CAGR of 2.2% between 2016 and 2021. The growth is primarily triggered by its huge demand from the Asia-Pacific region and growing end-use industries, such as automotive, consumer goods, packaging, healthcare, and electrical & electronics. Liberalization of foreign trade & investments and change in industrial policies have triggered rapid industrialization in China, for the past three decades. This, in turn, is contributing to the increasing demand for injection molding machine in the Asia-Pacific region.
"Hydraulic injection molding machine expected to dominate the market"
Hydraulic injection molding machine led the global injection molding machine market in 2015. Higher demand for hydraulic injection molding machine is mainly attributed to its longer service life, lower cost, technical advantages, enhanced performance, and widespread applications. These types of machines help in significant reduction in production cycle time. Since, hydraulic injection molding machine is the major type of injection molding machine, its growing demand drives the injection molding machine market.
"Asia-Pacific projected to be fastest-growing market during the forecast period"
Asia-Pacific is projected to be the largest market for injection molding machine, globally. Domestic and foreign investments in the key sectors such as automotive, consumer goods, and packaging have been consistently growing for the past decade. The increasing disposable income of people and industrial growth in the Asia-Pacific region led to the increasing demand of automobiles. As a result, there has been a consistent rise in number of vehicles in the region for the past decade, which is ultimately fueling the demand for injection molding machine in the region. In addition, the presence of the key market players drives the injection molding machine market in Asia-Pacific.
Breakdown of profile of primary interviews for the report
- By Company Type – Tier 1 – 30%, Tier 2 –43%, and Tier 3 – 27%
- By Designation – C Level – 21%, Director Level – 23%, and Others – 56%
- By Region – North America – 37%, Europe – 23%, Asia-Pacific – 26%, and RoW – 14%
Some of the key companies profiled in this report are Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries (Japan), Milacron Holdings Corp. (U.S.), Engel Austria GmbH (Austria), Nissei Plastic Industrial Co., Ltd., (Japan), Arburg GmbH & Co. KG (Germany), Husky Injection Molding Systems Ltd. (Canada), Dongshin Hydraulic Co., Ltd. (Korea), The Japan Steel Works Ltd. (Japan), KraussMaffei Group GmbH (Germany), and Negri Bossi S.P.A. (Italy).
Reasons to buy the report
While making strategic decisions in business, timely and useful information is required. This report meets the requirements of various stakeholders, including material suppliers, product manufacturers, investors, and executives. Some of the salient features of this report are:
- Porter's Five Forces Analysis
- Value Chain Analysis
- Market Segmentation (Type, End-use Industry, and Region), by Volume and Value
- Competitor Analysis
- Detailed Information on Strategic Developments in the Industry
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