According to the latest report, titled “Injection Moulding Machines Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global injection molding machine market size was USD 15.39 billion in 2019 and is projected to reach USD 20.49 billion by 2027, exhibiting a CAGR of 4.1% during the forecast period
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Injection Moulding Machines Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Injection Moulding Machines Market.
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A few top players in the industry are–
- ELECTRONICA PLASTIC MACHINES LIMITED (Maharashtra, India)
- NISSEI AMERICA, INC. (California, United States)
- Haitian International (Ningbo, China)
- Ved Machinery (Maharashtra, India)
- Husky Injection Molding Systems Ltd. (Caledon, Canada)
- Arburg GmbH + Co KG (Loßburg, Germany)
- Chen Hsong Holdings Limited (Tai Po, Hong Kong)
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Injection Moulding Machines Market and the market concentration is described in the report.
On the basis of Geography, the Global Injection Moulding Machines Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Injection Moulding Machines Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Injection Moulding Machines Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Declining Manufacturing Activities amid COVID-19 to Limit Market Growth
The outbreak of the COVID-19 pandemic has unprecedented uncertainty across industries, hampering investments in new technologies and creation of employment. The injection molding machine market growth is likely to get impacted as well owing to the reduced labor force working in manufacturing plants amid the pandemic. In India, for example, the sudden lockdown announced in March 2020 to contain the spread of the infection forced a huge number of migrant workers, most of who are employed in the country’s burgeoning small and medium enterprise (SME) sector, to leave for their native places. In the US, to take another example, a survey conducted by the National Association of Manufacturers revealed that 53.1% of manufacturers foresee changes in production operations, while 35.5% have been facing issues due to supply chain disruptions. The uptick for this market is the surging demand for plastic medical devices, which are extensively manufactured by injection molding machines. Thus, the demand for these machines from the medical device industry may offset the losses from other industries to a limited extent for players in this market.
An overview of the Injection Moulding Machines Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Asia Pacific to Hold Lion’s Share Backed by Strong Industrial Growth
At USD 6.01 billion, Asia Pacific dictated the injection molding machine market share in 2019 and is predicted to maintain its dominant position during the forecast period. This will mainly be a result of robust growth of industries in the region, especially in the SME sector in countries such as India, China, and Vietnam. In addition, government policies supporting manufacturing activities will further encourage innovation and entrepreneurship in the region, benefiting the market in general.
In North America, quick adoption of advanced manufacturing equipment and technologies to compensate the lack of labor will favor the market in the region. In Europe, on the other hand, manufacturers are facing major hurdles in the form of stringent environmental regulations, which is dampening the regional prospects of the market.
- What is the driving factor for the growth of the Injection Moulding Machines Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Injection Moulding Machines Market?
- What is the major application area of the Injection Moulding Machines Market?
- Who are the Injection Moulding Machines Market manufacturers across the globe?
- Which geographical location is dominant in the Injection Moulding Machines Market?
- Which are the top industry players in the Injection Moulding Machines Market?
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