North America Plastic Injection Molding Machine Market To Reach $2.61 Billion By 2030

North America Plastic Injection Molding Machine Market Growth & Trends

The North America plastic injection molding machine market size is anticipated to reach USD 2.61 billion by 2030 and is anticipated to expand at a CAGR of 3.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is primarily driven by the increasing demand for precision-engineered plastic components across diverse industries, such as automotive, consumer goods, packaging, and electronics. Moreover, factors, such as rising product customization requirements, the push for lightweight & durable materials, and the need for cost-effective mass-production methods are propelling the market growth. Plastic injection molding allows the creation of plastic packaging for a variety of applications and in a variety of forms.

The injection method can be utilized to manufacture food and beverage containers, creatively designed body care packaging, and even packaging for household chemicals. The plastic injection molding technique solves problems related to barrier protection, handling, product visibility, scalability, and aesthetics. Plastic injection molding machine is suitable for producing a wide variety of exterior automotive components, such as mudguards, door panels, wheel arches, grilles, trunk trims, front and rear covers, and outside car door trims. Its significance lies in the ability to manufacture complex and intricate designs with consistency, ensuring the stringent quality standards required for automotive applications.

Plastic injection molding enables the production of advanced technological components including sensors, connectors, and intricate parts for electric vehicles. According to the Center for Automotive Research, the automobile sector is one of the most important industries in the U.S. It contributed around 4.7% of the total U.S. GDP in 2022. Moreover, six additional assembly facilities were announced in 2022, building new electric vehicles, joining the 23 existing facilities that have been retooled for electric production. Premium/high-tech injection molding machines are used for manufacturing plastic components that have complex designs and unique end-use requirements.

As these machines are incorporated with the IIoT, automation, and machine learning algorithms, they can undertake high-quality manufacturing processes. These machines are used in automotive, medical equipment, and electronics industries to manufacture plastic components. Plastic injection molding machines with less than 100 metric tons of clamping force are used to manufacture small electronics parts, medical components, and coverings of consumer goods. Changing consumer preferences are encouraging companies to develop small and precise products in the electronics and medical industries. In addition, during the start of 2021, new investments of over USD 75 million were announced in the U.S. These investments further boosted the new assembly of automotive plants, thus, driving the market demand.

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North America Plastic Injection Molding Machine Market Report Highlights

• In 2023, the hydraulic product segment dominated the market, accounting for a share of 44.2% of the total revenue. Hydraulic plastic injection molding machines use fluid pressure energy to manufacture the plastic molding parts. As hydraulic systems can easily generate high pressure, these machines are mostly used in the manufacturing of plastic components with higher density & thickness. In the automotive industry, interior structures, such as dashboards and panels, are made of dense plastic

• Electric injection molding machines are highly efficient and require less start-up time and run time compared to hydraulic equivalents. Electric injection molding machines use 50% to 75% less energy on average than their hydraulic equivalents

• Manufacturers in the market invest in collaborations, mergers, and acquisitions to develop advanced and innovative solutions. In addition, they are adopting strategies, like new product development and geographical expansion, to strengthen their market presence and cater to end-use industries

• For instance, in December 2023, Husky Technologies opened a cutting-edge service center in Jeffersonville, Indiana. The facility provides a wide array of readily accessible OEM parts, demonstrating the company's dedication to its customers in the region

• In November 2023, ARBURG expanded its global footprint with the inauguration of a new subsidiary in Vietnam. The primary objective was to enhance accessibility to ARBURG products and services for customers in Vietnam. The establishment of this subsidiary reflects the company's commitment to providing products and services with increased convenience, efficiency, and dependability.

North America Plastic Injection Molding Machine Market Segmentation

Grand View Research has segmented the North America plastic injection molding machine market on the basis of technology, clamping force, technological sophistication, end- use and country:

North America Plastic Injection Molding Machine Technology Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• Hydraulic

• Electric

• Hybrid

North America Plastic Injection Molding Machine End-use Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• Automotive

• Consumer Goods

• Packaging

• Electronics

• Medical

• Others

North America Plastic Injection Molding Machine Clamping Force Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• <100 Metric Tons

• 101 to 400 Metric Tons

• 401 to 1000 Metric Tons

• >1000 Metric Tons

North America Plastic Injection Molding Machine Technological Sophistication Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• High Tech

• Mid Tech

• Low Tech

North America Plastic Injection Molding Machine Country Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• U.S.

• Canada

• Mexico

List of Key Players of North America Plastic Injection Molding Machine Market

• Arburg GmbH + Co KG

• Haitian International

• KraussMaffei

• Milacron, LLC

• Nissei Plastic Industrial Co., Ltd.

• ENGEL

• Chen Hsong Holdings Limited

• UBE Machinery Inc.

• Husky Technologies

• WITTMANN Technology GmbH

• The Japan Steel Works, Ltd.