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The increased tourist arrivals， which is by about 18 percent， is good news to the sector that was initially on its knees following persistent attacks from the Somali militant group Al-Shabaab. Rising Importance Of Lightweight Materials In Automotive Industry Is Expected To Boost Injection Molding Machine Market Till 2025
San Francisco, 22 Jan 2019 -鈥淚njection Molding Machine Market Size, Share & Trends Analysis Report By Materials (Plastic, Metal) Alexander Mattison Womens Jersey , By Technology (Hydraulic, Electric), By End Use (Automotive, Consumer Goods), And Segment Forecasts Irv Smith Jr. Womens Jersey , 2018鈥?025鈥?The global injection molding machine market size is anticipated to be valued at USD 22.45 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 3.5% over the forecast period. Growing demand for lightweight and complex automotive and electronic components is projected to enhance the requirement for Injection Molding Machines (IMM).
Rising industrialization, technological developments, rapid urbanization Garrett Bradbury Womens Jersey , and growth in infrastructure are anticipated to augment demand for IMM. Increasing mass production in automotive, consumer goods, and electronics industries are expected to propel the global injection molding machine market over the forecast period.
On the basis of materials, IMM market is segmented into plastic and metal injection molding machines. In terms of revenue, the plastic segment valued at USD 12.99 billion in 2017. It is projected to hold the largest market share over the forecast period.
Automotive segment was valued at USD 4.97 billion in 2017 and is projected to register significant expansion in the forthcoming years. Injection molding machines find a range of applications in automotive industry. They are used to manufacture the most complex and critical parts including interior and exterior trim components Dalvin Cook Womens Jersey , electronic subassemblies, and under-hood application components. Consumable goods are among the largest segment where IMMs are used to manufacture personal hygiene products, housewares, cosmetics, and convenience goods.
In terms of technology Mike Hughes Womens Jersey , electric injection molding machine market accounted for USD 5.8 billion in 2017 and is anticipated to witness robust growth over the forecast period. High adoption of electric injection molding machine for diverse applications across electronics, packaging, and healthcare industries is likely to boost the demand over the forecast period. In 2017, the electrically operated machines segment accounted for around 34.00% of the global injection molding machine market share. High adoption of technology coupled with production costs of these manufacturing processes over the existing processes is projected to encourage market growth.
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Further key findings from the report suggest: