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(IT-NEWSWIRE.COM, September 17, 2021 ) The injection molding machine market size is estimated to be USD 10.3 billion in 2020 and is expected to reach USD 12.3 billion by 2025, at a CAGR of 3.6% during the forecast period. Factors such as growing demand from the healthcare industry, rapid industrialization in growing economies like China, India & Thailand, high demand from the packaging industry and increasing demand for large plastic molds in automotives will drive the injection molding machine market. The major restraint for the market will be the high initial and maintenance cost of the machines. However, rising awareness about energy saving will act as an opportunity for the market.
The key market players profiled in the report include Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Hillenbrand, Inc. (US), Arburg GmbH + Co KG (Germany), Nissei Plastic Industrial Co., Ltd. (Japan), Husky Injection Molding Systems Ltd. (Canada), KraussMaffei Group GmbH (Germany), Dongshin Hydraulics Co., Ltd.(South Korea), Niigata Machine Techno Company, Ltd. (Japan), Huarong Plastic Machinery Co., Ltd. (Taiwan), Fu Chun Shin Machinery Manufacture Co., Ltd. (Taiwan), Shibaura Machine(Japan), Oima Srl (Italy), R.P. Injection Srl (Italy), Toyo Machinery & Metal Co., Ltd.(Japan) , Boco Pardubice Machines S.R.O.( Czech Republic) , Mitsubishi Heavy Industries Plastic Technology Co., Ltd. (Japan) , Woojin Plaimm Co., Ltd. (South Korea), Borche North America Inc. (California), Multiplas Enginery Co., Ltd.( Taiwan), Mold Hotrunner Solutions Ltd. (California) , Dr. BOY GmbH & Co. KG(Germany) and SMF Maschinenfabrik GmbH (Germany). They are continuously undertaking developmental strategies such as expansions, new product launches, acquisitions, and contracts & agreements to strengthen their position in the injection molding machine market.
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Players in the injection molding machine market are mainly concentrating on new product launches, acquisitions, and collaboration to meet the growing demand for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the injection molding machine market has been largely influenced by new product launches that were undertaken between 2016 and 2020. Companies such as Haitian International Holdings Limited Sumitomo Heavy Industries Ltd (SHI) , Engel Austria GmbH , Nissei Plastic Industrial Co., Ltd.and Chen Hsong Holdings Limited have adopted new product launches to enhance their market position.
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Haitian International Holdings Limited. is one of the major players in the injection molding machine market. In order to strengthen its product portfolio, the company is focusing on organic growth for meeting client’s requirements. 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. facility in Moncks Corner, South Carolina, US. Haitian launched a new Jupiter 3 series, which has better features than that of the Jupiter 2 series. It has better intelligent control and digitization of processes.
Chen Hsong Holdings Limited is another leading injection molding machine manufacturers, globally. It has a customer base in more than 90 countries, including China, Taiwan, the US, Canada, France, the UK, Germany, Turkey, India, Brazil, Argentina, and Mexico. The company is engaged in expanding its presence across the globe and cater to potential markets. For instance, Chen Hsong’s wholly-owned subsidiary in India, named, Chen Hsong Machinery (India), in November 2018. The main purpose of the company is to provide timely and high-quality services, spare parts, solutions, and technical assistance to the vast plastics industry in India. Chen Hsong Holdings Ltd had launched SPEED-PACK 260 of the SPEED-PACK Series and a JM88-MK6 of the JETMASTER MK6 Series in October 2018.
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Sumitomo Heavy Industries Ltd (SHI) is another major player in injection molding machine market. In October 2020, Sumitomo Heavy Industries Ltd (SHI) launched 5 types of models to SEEV-A-SHR series with a clamping force of 1000, 1300, 1800, 3500, and 4500 kN. These are super high-speed electric injection molding machines. Similarly, in December 2020, ENGEL extended its portfolio by launching a new duo speed injection molding machine (5,000 to 11,000 kN) for manufacturing buckets and storage and transport containers. In addition to the duo speed, the e-cap and e-speed injection molding machine series were specifically developed for applications in the packaging industry.
The companies also adopted acquisition as a strategy to increase their share and market presence. For instance, in November 2019, Hillenbrand, Inc. completed the acquisition of Milacron Holdings Corp. at approximately USD 1.9 billion. Also, Nissei Plastic Industrial Co., Ltd. acquired NEGRI BOSSI S.P.A. (NEGRI BOSSI) Group, an injection molding machine manufacturer in Italy.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
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