GVR Report cover Injection Molding Machine Market Size, Share & Trends Report

Injection Molding Machine Market Size, Share & Trends Analysis Report By Material (Metal, Plastic), By Technology (Hydraulic, Electric), By End Use (Automotive, Consumer Goods, Packaging), By Region, And Segment Forecasts, 2021 - 2028

  • Report ID: GVR-2-68038-652-3
  • Number of Pages: 138
  • Format: Electronic (PDF)

Report Overview

The global injection molding machine market size was valued at USD 14.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2021 to 2028. Increasing adoption of injection molding machines (IMM) in the automotive, electronics, and packaging industries is likely to be the key driver for the growth of the industry over the forecast period. The COVID-19 pandemic resulted in supply chain disruptions, leading to an increase in project time and costs. Furthermore, plastic component manufacturers also resorted to additive manufacturing, penetrating the injection molding market. However, end-user industries are looking to manufacture locally, thus providing a boost to market growth.

U.S. injection molding machine market size, by material, 2018 - 2028 (USD Billion)

The U.S. injection molding market underwent a transition due to the COVID-19 pandemic as the market witnessed increased automation and installation of robotic systems. The demand for plastic molded products witnessed a surge for medical end-use, leading to an increase in demand for molding machines and augmenting the market growth.

Increased investments in automotive, packaging and electronics industries in developing countries such as India, China, and Brazil are anticipated to increase the demand for injection molding machines over the coming years. Expanding application industries such as biomedical, packaging, and construction are also expected to positively affect market growth.

New developments in technology such as molding different raw materials through the injection molding process and increasing the energy efficiency of injection molding machines have replaced the traditional molding machines from the market. Thus, demand for automated and energy-efficient injection molding machines is growing across the globe.

Buyers have an influence on the injection molding machine price as there is little dependency on suppliers. Buyer power is likely to remain moderate in light of intense competition among rival players. Players have been able to develop patented technology due to which buyers may have to pay more for a product that is exclusively available at one particular player.

Material Type Insights

The plastic injection molding machine segment led the market and accounted for 76.4% of the global revenue share in 2020. The strong shift from metal parts towards plastic components in the automotive industry is anticipated to spur the growth of the market over the forecast period.

Plastic molded parts provide a solution for high-volume and cost-efficiency. The recent trend of light-weighting in the automotive industry to enhance fuel-efficiency has resulted in increased use of plastic molded parts, coupled with rising demand for plastic molded components in medical device manufacturing.

The metal injection molding machine segment is estimated to witness a CAGR of 4.2% from 2021 to 2028, in terms of revenue. Factors such as superior surface finish, high resistance to corrosion, and ability to manufacture parts with complex geometries have resulted in increased demand for metal molded products.

The rising costs of recyclability of plastics have led manufacturers to look into substitutes such as bioplastics that are environmentally friendly and have similar properties to plastics; this has led to an increase in demand for injection molding machines. Furthermore, the demand for injection molding machines in ceramics is also rising in medical and electronics end-use industries.

Technology Insights

The hydraulic injection molding machine led the market and accounted for 45.2% of the global revenue share in 2020. Factors such as the ability to work under and maintain high-pressure, high-power density, and wide use in automotive, marine, and aerospace industries where heavy force is required are expected to augment market growth.

Electric injection molding machines are highly efficient, which require less start-up time and run-time as compared to hydraulic injection molding machines. Electric injection molding machines are tighter, faster, cleaner, and more repeatable process manufacturing machines with low waste, leading to an average energy reduction of 50% to 75%, as compared to hydraulic machines.

A hybrid injection molding machine combines the best of both hydraulic and electric injection molding machines. Hybrid injection molding machine provides high clamping force of hydraulic machine and high precision, energy efficiency, reduced noise, and repeatability of the electric injection molding machine, resulting in a better performance for both thick- and thin-walled parts.

Manufacturers have developed hybrid injection molding machines primarily to increase energy savings through screw recovery. The hybrid machines are expected to play an important role in the fabrication of the telecommunications industry as many countries push to build the infrastructure around 5G, due to which the hybrid machines are expected to grow at a CAGR of 4.8% over the forecast period.

End-use Insights

The automotive end-use segment led the market and accounted for over 29.2% of the global revenue share in 2020 on account of the factors such as repeatability, material compatibility, fast prototypes with rapid tooling, and high precision and surface finish. Moreover, rising automotive production and increasing demand for lightweight automotive components are expected to propel market growth.

The advent of electric vehicles worldwide can also be seen as an opportunity for injection molding machine manufacturers. Electric drive trains, braking, and clutching system have parts such as gears, seals, magnets that are manufactured using injection molding. Moreover, the rising trend of replacing metal with plastic in automobiles is expected to drive the market during the forecast period.

Global injection molding machine market share, by end use, 2020 (%)

The manufacturing of smartphones, tablets, laptops, connectors, sensors and various other electronic components require injection molding. These parts require high levels of accuracy and quality which injection molding machines can deliver, making it the fastest-growing end-use segment with a CAGR of 5.1% during the forecast period.

The growing electronics industry in China, South Korea, and Taiwan with the presence of technology-driven companies is expected to play a key role in the growth of the injection molding machines market. A rise in demand for air conditioning units, refrigerators, structural electronics, and several other electronics and consumer goods is expected to drive the market growth.

Regional Insights

Asia Pacific led the market and accounted for 41.8% of the global revenue share in 2020. Increasing investments in packaging and electronics, coupled with a strong consumer base in countries such as China, Japan, and India, are expected to play a crucial role in triggering the demand for injection molding machines over the forecast period.

The European injection molding machine industry plays a crucial role in the overall injection molding machine market. Germany, Italy, France, and Spain are notable countries in the European region contributing significantly to the European injection molding machine market. The enhancing technological innovations in the region in order to gain market dominance and maintain competitiveness shall prove to be a major factor boosting the market growth.

The demand for injection molding machines in India is estimated to witness a CAGR of 5.5% over the forecast period. The country is an attractive destination for manufacturers to set up plants considering the cost advantages. Furthermore, positive development in the country’s economic condition is anticipated to boost the growth of the process manufacturing sector, which, in turn, is conducive to market growth.

France is expected to be one of the fastest-growing economies in the market. Rising research initiatives, technological advancements, and growing demand for packaging and automotive industries are likely to attract new players to tap opportunities in the country, augmenting the demand for injection molding machines.

Key Companies & Market Share Insights

The market is highly competitive in nature and dependent on technological advancements and product development. Market players strive to achieve new application developments in order to gain a competitive advantage. The presence of local players in APAC poses a major threat to the large multinational firms in terms of product quality and price offered to the customers.

The companies are focusing on optimum business growth by introducing numerous growth strategies. Some of the major IMM manufacturers are exploring new markets and expanding their presence in emerging economies including India, Brazil, Mexico, Saudi Arabia, and UAE. Many of the companies are investing heavily in research and development and continue to bring new products to the global market. Some of the prominent players in the injection molding machine market include:

  • Arburg GmbH + Co KG

  • Haitian International Holdings Limited

  • Milacron

  • Nissei Plastic Industrial Co., Limited

  • Engel Austria GmbH

  • Sumitomo (SHI) Demag Plastics Machinery GmbH

  • Chen Hsong Holdings Limited

  • Toyo Machinery & Metal Co., Ltd.

  • Husky Injection Molding Systems Ltd

  • Japan Steel Works Limited

  • KraussMaffei Group

  • UBE Machinery

  • Toshiba Machine Co., Ltd.

  • Wittmann Battenfeld

  • Hillenbrand, INC.

Injection Molding Machine Market Report Scope

Report Attribute


Market size value in 2021

USD 14.71 billion

Revenue forecast in 2028

USD 20.0 billion

Growth Rate

CAGR of 4.5% from 2021 to 2028

Base year for estimation


Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Material, technology, end-use, and region

Regional scope

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

Country Scope

U.S.; Canada; Mexico; Germany; France; Italy; Spain; Denmark; Austria; China; India; Japan; Taiwan; South Korea; Brazil; Argentina; Saudi Arabia; UAE

Key companies profiled

Arburg GmbH + Co KG; Haitian International Holdings Limited; Milacron; Nissei Plastic Industrial Co., Limited; Engel Austria GmbH; Sumitomo (SHI) Demag Plastics Machinery GmbH; Chen Hsong Holdings Limited; Toyo Machinery & Metal Co., Ltd.; Husky Injection Molding Systems Ltd.; Japan Steel Works Limited; KraussMaffei Group; UBE Machinery; Toshiba Machine Co., Ltd.; Wittmann Battenfeld; Hillenbrand, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global injection molding machine market report on the basis of material, technology, end-use, and region:

  • Material Outlook (Revenue, USD Million, 2017 - 2028)

    • Plastics

    • Metals

    • Others

  • Technology Outlook (Revenue, USD Million, 2017 - 2028)

    • Hydraulic

    • Electric

    • Hybrid

  • End-use Outlook (Revenue, USD Million, 2017 - 2028)

    • Automotive

    • Consumer Goods

    • Packaging

    • Electronics

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • Spain

      • Denmark

      • Austria

    • Asia Pacific

      • China

      • India

      • Japan

      • Taiwan

      • South Korea

    • Central & South America

      • Argentina

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

      • UAE

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