In the eight short years since machine manufacturer Yizumi entered the European market, the Chinese company has carved out a market for its distinctive green injection molding machine range.
"Even though the investments made during the past two years by our customers have been lower compared to the years before, we have still been able to hold our own in this quite tough and competitive market," said Umüt Topbac, director IMM at Yizumi Precision Machinery (Germany) GmbH.
Sales in Europe have continued to grow each year. Unlike the major European-based brands, which are seeing their formerly high sales levels tumble drastically, Yizumi is starting from a far more humble position.
"They had a lot to lose, whilst we are still climbing. And today, the feedback we get from our customers is that the economy is improving, and they see a light at the end of the tunnel. They are currently planning their investments for 2025 and 2026, including in new machinery," he said.
The sectors that are starting to show some signs of recovery are packaging, logistics and consumer electronics, he added.
"The automotive sector is still struggling — here, in Europe, you understand — not in China," he stressed. "In China, the automotive business is in a better situation, although the margins there are down and prices are deflating — and ultimately, this affects the machinery suppliers as well."
Price competition among the various injection molding machinery brands is nothing new, but in difficult market conditions, companies must find ways to differentiate themselves. As a Chinese machine manufacturer, the price of a Yizumi machine tends to be lower than a comparable European-built one. However, the price, said Topbac, is not the differentiating factor.