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Expansions and New Product Launches are the Key Strategies Adopted by the Leading Players of the Global Injection Molding Machine Market
The market size for injection molding machine was USD 4.28 billion in 2015 and is projected to reach USD 4.86 billion by 2021, registering a CAGR of 2.2% between 2016 and 2021. Expansions, contracts & agreements, and new product launches are the strategies adopted by the key players to strengthen their foothold in the global injection molding machine market. The maximum number of strategic developments undertaken between 2012 and 2016 took place in Asia-Pacific, followed by Europe and North America.
The key players operating in the global injection molding machine market 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), Negri Bossi S.P.A. (Italy), and others.
Haitian International Holdings Limited (China) is one of the leading injection molding machine manufacturers, globally. The company has been focusing on expansion activities to maintain its leading position in the market. For instance, in May 2015, Zhafir Plastics Machinery, a subsidiary of Haitian International Holdings Ltd., opened a new plant in Ningbo, China. The plant has a production area of around 120,000 meters square and capacity to manufacture 5,000 electrical injection molding machines per year. This helps the company to strengthen its position in the global injection molding machine market. In July 2014, the company launched new product Zhafir Venus, a high speed full electric machine in Guangzhou factory, China. The product has precise mold movement, short cycle time, efficiency, and energy saving characteristics.
Sumitomo Heavy Industries (Japan) is another major player in the global injection molding machine market. The company has been focusing on expansions as part of its strategic development activities. In January 2014, the company opened a new plant for injection molding machine in China, which helped it to cater the rising demand of this machine in the Chinese market.
Injection Molding Machine Market by Product Type (Plastic, Rubber, Metal, and Ceramic), Machine Type (Hydraulic, All-Electric, and Hybrid), End-Use Industry (Automotive, Consumer Goods, Packaging, Healthcare & Electrical and Electronics) & by Region - Global Forecast to 2021
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