MarketsandMarkets has released 360 Quadrant for Top 15 Injection Molding Machine Companies, Worldwide 2024 to help businesses make quicker and more informed decisions. Companies' market presence and product footprint are used to build quadrants, which will be revised annually.
The injection molding machine sector has experienced consistent expansion in the past few years. Anticipated to achieve a valuation of USD 12.4 billion by 2027, the global market is set to exhibit a CAGR of 4.50%, up from the 2023 valuation of USD 10.4 billion. This upward trajectory is primarily influenced by heightened demand in pivotal end-use industries such as automotive, consumer goods, packaging, healthcare, and electronics. Key factors propelling market growth encompass escalating healthcare requirements, the swift industrialization observed in developing nations, and the increasing utilization of plastic molds in the production of electric vehicles.
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Unveiling the Market Leaders: Honoring Excellence in Injection Molding Machine Markets
- Haitian, a prominent player in the Injection Molding Machine market, has strategically positioned itself as a market leader through a combination of innovation, reliability, and an expansive product portfolio. With a strong market presence, Haitian has successfully captured a significant share by consistently delivering high-quality injection molding machines that cater to diverse industrial needs. Haitian, through its subsidiaries, provides a comprehensive range of injection molding machines encompassing both all-electric and hydraulic models. The Haitian Plastic Machine Series boasts a diverse lineup that caters to nearly all standard applications, meeting rigorous international quality benchmarks. With clamping forces spanning from 600 to 88,000, these injection molding machines offer cost-effective solutions accessible globally. Among its notable offerings are the Haitian Mars Series and Haitian Jupiter Series, showcasing the technological prowess of Haitian Plastics Machinery, a subsidiary of Haitian. Through its another subsidiary, Zhafir Plastics Machinery, the company offers All-electric, high-grade energy-efficient, precision injection-moulding machines, that include products like Zhafir Venus Series, Zhafir Zeres Series, And Zhafir Jenius Series among others.
- Chen Hsong is a major player in the injection molding machine market and has established itself as a leading brand through its comprehensive product portfolio and global market presence. The company offers a full range of injection molding machines from micro to mega tonnage for different applications and industries. Chen Hsong has a strong focus on innovation and continuously develops new technologies and solutions. The company's product lineup encompasses a variety of offerings, including the JM-MK6.6 Euroseries, FOCUS SVP/2, Speed & Speed Pack II, and Jetmaster Mk6 Large, among other Injection Moulding Series. By leveraging its broad product range, pioneering technologies, and worldwide reach, Chen Hsong has secured its position as one of the top injection molding machine suppliers in the world.
- ENGEL is one of the leading manufacturers of injection molding machines worldwide. The company has grown over the past 75+ years to have a strong global presence and comprehensive product portfolio covering the full range of injection molding technologies and applications. Key factors in ENGEL's market leadership include its focus on innovation and developing cutting-edge injection molding solutions. The company's product portfolio covers a clamping force range of 280 kN to 55,000 kN, incorporating hydraulic, hybrid, and electric injection molding machines in both horizontal and vertical configurations. Some of the notable products include The two-platen machines, The toggle-lever machines, The tie-bar-less machine, and The vertical tie-bar-less machine among others. The company provides a spectrum of options, from readily available stock machines to highly customizable solutions, ensuring adaptability to diverse manufacturing needs. Their range extends from rapid production systems to high-precision setups, characterized by the shortest cycle times in the industry.
- Sumitomo Heavy Industries (SHI) has established itself as a leading manufacturer of injection molding machines globally through its comprehensive product portfolio and strong market presence across major regions. The company has been instrumental in developing industry-leading technologies, including the introduction of all-electric machines featuring the direct drive system and the revolutionary integration application "Zero-molding." Some of the notable products include Standard SE-EV-S, Super high speed/highly responsive SE-EV-S-SHR, Small SE-DUZ, and High-speed SE-HSZ among others. The company's strengths encompass a robust lineup and precision/high-cycle molding capabilities, contributing significantly to the production of a diverse range of plastic products. Through SHI Demag, a subsidiary of SHI, the company manufactures a comprehensive range of injection molding machines, encompassing all-electric, hybrid, and hydraulic models. The company's platform of all-electric machines spans from 8 to 936 US tons, catering to various needs, including micro to mid-sized, high-speed thin-wall/packaging, high-duty, vertical, insert, and 2-shot machine series.
- Hillenbrand has established itself as a market leader in the Injection Molding Machine industry through a combination of strategic market presence and a diverse product portfolio. The company's strong foothold in the market is attributed to its commitment to innovation, technological advancements, and customer-centric solutions. Hillenbrand stands as a global leader in the plastic technology and processing industry, providing highly-engineered processing equipment, systems, and aftermarket parts and services on a global scale. The company serves a diverse range of industries including Automotive, Consumer Goods, Custom Molders, Other Industrial, Packaging, Construction, Medical, and Electronics. Within its Molding Technology Solutions segment, Hillenbrand delivers hot runner systems, injection molding, blow molding, and extrusion equipment. It offers all-electric and hybrid molding machines that are used across various industries. Some of the products offered by the company include Elektra, PowerPak, Q series, and others.
- ARBURG is a German manufacturer that has established itself as a leading global supplier of injection molding machines and peripheral equipment. The company offers a comprehensive portfolio of ALLROUNDER injection molding machines for plastics processing, customized turnkey systems, and additional peripherals. The company's range of injection molding machines encompasses a diverse portfolio, featuring hydraulic machines, hybrid machines, electric machines, cube machines, vertical machines, Ready2Go machines, and a variety of accessories. The company's success can be attributed to its continuous investment in research and development, ensuring that its offerings remain at the forefront of technological advancements, and its dedication to customer satisfaction, positioning ARBURG as a trusted and influential player in the Injection Molding Machine market.
- The Japan Steel Works (JSW), a formidable player in the Injection Molding Machine market, has strategically secured its position as a market leader through a combination of innovative technology, consistent quality, and expansive market presence. The company is involved in the manufacturing of various plastic molding machines, including plastic injection molding machines, multilayer blow molding machines, and magnesium injection molding machines. The company offers a range of injection molding machines including small, middle, large, ultra-large (toggle type and tie bar lock type), as well as vertical injection molding machines (single acting type and rotary type). By continuously investing in R&D and introducing innovative and energy-efficient technologies, JSW has been able to enhance its product offerings and stay ahead of changing market trends. The company's commitment to quality and focus on cost competitiveness has allowed it to carve a niche for itself, making JSW a dominant force in the injection molding machine industry worldwide.
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Categorization Of Injection Molding Machine Companies On 360 Quadrants
Injection Molding Machine Companies’ evaluation was conducted for 60 companies, of which the top 15 were categorized and placed in a quadrant under Market Leaders, Contenders, Innovators, and Emerging Companies.
Positioned in the upper-right quadrant, Market Leaders exemplify a combination of an expansive product offering and a formidable market presence. These organizations not only deliver comprehensive solutions but also boast a well-established and influential position in the market. Market Leaders are recognized for their reliability, consistent innovation, and widespread acceptance among customers. Their dominance in both product capabilities and market influence solidifies their status as leaders in their respective industries. These companies include Haitian, Chen Hsong, ENGEL, SHI, Hillenbrand, ARBURG, and JSW.
Husky and NISSEI have been recognized as Contenders. Nestled in the upper-left quadrant, Contenders possesses a substantial market presence but may encounter challenges in terms of product innovation or differentiation. These companies have already secured a notable customer base and market recognition, positioning them as contenders. While their current offerings are competitive, Contenders have the potential to evolve and enhance their product capabilities to become more visionary and competitive in the future.
Situated in the lower-right quadrant, Innovators are distinguished by their exceptional product innovation and uniqueness. While they may not match the market presence of Market Leaders, Innovators challenge industry norms by introducing cutting-edge solutions. These companies push industry boundaries with forward-thinking approaches and have the potential to become major players despite lower corporate growth strategies. KraussMaffei and Shibaura Machine have been identified as the innovators in the quadrant.
Residing in the lower-left quadrant, Emerging Companies showcase a promising product footprint but are in the early stages of establishing their market presence. These companies may excel in specific niche areas or offer unique features that differentiate them, but their impact on the overall market is still evolving. Emerging Companies are considered niche players with significant growth potential as they expand their reach and recognition in the market. This segment of the quadrant has identified FANUC, MHI, Dongshin Hydraulic, and Dr. Boy as emerging companies.
Evaluation Criteria
The 360 Quadrant maps the Injection Molding Machine Companies based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Injection Molding Machine’ quadrant. While the top criteria for product footprint evaluation included Materials (Plastic, Rubber, Metal, Ceramic), Type of Machines (Hydraulic, All-Electric, Hybrid), End-Use Industry (Automotive, Consumer Goods, Packaging, Healthcare, Electronics, Others).
360 Quadrants Scoring Methodology
360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.
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