The global injection molding machine market should reach $22.45 billion by 2025, expanding at a 3.5 percent compounded annual growth rate of 3.5 percent over the period, according to a report from Grand View Research Inc.
The U.S. market should expand at lower CAGR, of 1.1 percent, through 2025.
The San Francisco-based firm said injection presses will meet growing demand for lightweight and complex automotive and electronic components.
Grand View Research said the injection molding market it measures is segmented into plastics and metal injection molding machines. The plastic segment was valued at nearly $13 billion in 2017 and will hold the largest market share over the forecast period.
Injection molding machines into the automotive segment were valued at $4.97 billion in 2017. Automotive should register significant expansion going forward.
Consumer goods are another major market.
The report said the electric injection molding presses market was valued at $5.8 billion in 2017.
The value of injection molding machines in China should reach $3.71 billion in 2025, Grand View Research predicted.
For information, www.grandviewresearch.com.
