Dublin, December 24, 2021 (GLOBE NEWSWIRE) – The “Global Market for Micro Injection Molding Machines by Type, Application and Region – Forecast to 2026” Report was added to ResearchAndMarkets.com to offer.
The global micro injection molding machine market is projected to reach $ 609 million by 2026, with a 9.8% CAGR of $ 381 million in 2021.
The main drivers of this market are the growth in the automotive sector and the increasing demand from medical applications. The shift towards nanotechnology and miniaturization in the medical industry is driving the demand for high-precision shapes that are efficient for performing medical procedures. In addition, the advancing automation in vehicles and the introduction of electric vehicles are further increasing the demand for high-precision parts to improve performance.
The greatest inhibition threshold for market growth lies in the high technology of fully electric machines, the investment costs are high. Another disadvantage is the high maintenance requirements. If the engine fails, the entire system has to be replaced, which is associated with considerably high maintenance costs. The global economic slowdown due to COVID-19 also affected the market. This disrupted the global supply chain and severely affected the automotive industry. In order to contain the spread of the coronavirus, governments and international bodies have issued various regulations for industries and manufacturers.
The demand for plastic micro-molded parts in automotive, electronics and medical applications is driving the demand for micro-injection molding machines with a clamping force of 30 to 40 tons.
Medical technology is valued as the largest application in the micro injection molding machine market between 2021 and 2026
Technological advancement in the medical industry is promoting the use of micro parts in their medical processes to improve the overall procedure with better outcomes for their patients. Intensive research and development further increases the demand for medical micro-parts and thus increases the demand for micro-injection molding machines in medical applications.
APAC will be the largest market for micro injection molding machines in terms of value over the forecast period
In APAC, China is the largest market for micro injection molding machines. Rising domestic demand due to the rapid rise in manufacturing facilities and other commercial units is expected to further fuel demand for micro injection molding machines in the region. An increasing population and demand, accompanied by initiatives for new technologies and products, should make this region a promising market for micro injection molding machines. The growing population will have a significant impact on the automotive and electronics industries in the region.
This report segments the Micro Injection Molding Machines Market by type, application, and region, and includes estimates of the total value of the market across various regions. A detailed analysis of the key industry players has been conducted for insights into their business overviews, products and services, key strategies, product launches, expansions, and mergers and acquisitions related to the Micro Injection Molding Machine Market.
Key topics covered:
The 30 to 40 ton clamping force segment will dominate the market for micro injection molding machines
Medicine is the largest application in the micro injection molding machine market
Asia Pacific had the largest share of the micro injection molding machine market in 2020
Attractive Opportunities for Manufacturers of Micro Injection Molding Machines – Switching to Electric Vehicles to Increase Demand for Micro Injection Molding Machines
Micro Injection Molding Machine Market by Region – Asia Pacific will be largest Micro Injection Molding Machine market between 2021-2026
Micro Injection Molding Machine Market Share, Region vs. Application – Medical Application is the largest consumer of micro injection molding machines
Asia Pacific: Micro Injection Molding Machines Market by Application and Country, 2020 – China had the largest market share
Micro Injection Molding Machine Market Attractiveness – India has high demand for micro injection molding machines between 2021 and 2026
Growth in the automotive sector is fueling demand for micro injection molding machines
Increasing demand from medical applications
Growing health expenditure and a favorable reimbursement scenario
Anntong Ind. Co. Ltd.
Arburg GmbH & Co. KG
Babyplast (Rambaldi Group)
Boy Machines, Inc.
Engel Austria GmbH
Milacron Holdings Corp. (Hillenbrand)
Ningbo Shuangsheng Plastic Machinery Co. Ltd.
Nissei Plastic Industrial Co. Ltd.
Sodick Co. Ltd.
Sumitomo Heavy Industries Limited
Japan Steel Works Ltd.
Wittmann Battenfeld GmbH
For more information on this report, see https://www.researchandmarkets.com/r/fnd9k5
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