The pharmaceutical sector in the United Kingdom has a revenue of approximately US$ 44 billion and invests US$ 5.4 billion in R&D. Injection molding machines are widely utilized in the pharmaceutical industry to produce various packaging goods with precision and reproducibility.
NEWARK, DE / ACCESSWIRE / October 3, 2024 / The Europe injection molding machines market is set for significant growth, with a projected CAGR of 4.3% from 2023 to 2033, according to Future Market Insights (FMI). The market, currently valued at USD 3,475.3 million in 2023, is expected to reach USD 5,288.9 million by 2033, marking a substantial increase from its 2022 valuation of USD 3,339.4 million. In 2023, the market is forecasted to see year-on-year growth of 4.1%.
Key industries such as automotive and packaging played a vital role in this growth, with these segments together holding a market share of approximately 50% in Europe in 2022. The injection molding machines market is set to generate an incremental growth opportunity of USD 3,840 million during the assessment period, expanding 1.7 times its current market value by 2033.
Several factors are driving the demand for injection molding machines across Europe. The region's robust manufacturing sector spans key industries like automotive, packaging, electronics, and medical devices, where injection molding technology plays a critical role in the cost-effective and efficient production of high-quality plastic components. Increasing demand for consumer goods and continuous technological advancements have further boosted the need for these machines.
In addition to industrial growth, the rise in demand for injection molding machines is also fueled by Europe's focus on sustainability. With eco-friendly manufacturing processes becoming a top priority, these machines offer multiple advantages, such as enabling the use of recyclable materials, minimizing waste through precise material control, and reducing energy consumption. As European countries work to meet their environmental targets and lower their carbon footprint, the demand for injection molding machines has surged.
Market Value of Europe Injection Molding Machines by Country
Country |
Market Share (2023) |
Market Share (2033) |
|
|
|
Germany |
26.90% |
23.40% |
France |
11.00% |
9.70% |
Spain |
5.50% |
5.10% |
Italy |
7.30% |
7.30% |
United Kingdom |
8.30% |
7.10% |
Russia |
4.00% |
3.10% |
"The Europe injection molding machines market is set for robust growth, driven by increasing demand across automotive, packaging, and healthcare industries. Advancements in technology and a shift towards energy-efficient solutions are further boosting the market." Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways From The Europe Injection Molding Machines Market:
Europe injection molding machines market exhibited a CAGR of 2.4% during the historical period.
The market is projected to generate an incremental opportunity of USD 573.2 million over the next decade.
The United Kingdom's pharmaceutical sector has a turnover of around USD 44 billion and invests USD 5.4 billion in R&D.
The UK market accounted for about 8.3% share in 2023 and is expected to grow at a CAGR of 3.7% during the forecast period.
The hydraulic segment is estimated to hold around 44% market share in 2023.
The automotive sector is anticipated to capture around 29% of the market share in 2023.
Competitive Landscape
Injection molding machine manufacturers in Europe are investing in R&D to include new features and technology into their equipment. This encompasses developments in automation, robotics, control systems, and sensor technologies that improve productivity, precision, and efficiency.
Others focus on providing adaptable and flexible solutions to meet the different needs of their consumers. This entails creating equipment that can handle a variety of product sizes, materials, and production needs, allowing customers to optimize their manufacturing operations.
Explore In-Depth Analysis - Click Here to Access the Report: https://www.futuremarketinsights.com/reports/europe-injection-molding-machines-market
Key Players:
Haitian Plastic Machinery Group Co. Ltd.; Arburg GmbH; The Japan Steel Works, LTD.; Husky Injection Molding Systems Ltd.; Engel AUSTRIA GmbH; Chen Hsong Holdings Limited; Milacron; Sumitomo Heavy Industries, Ltd.; KraussMaffei Group; FANUC CORPORATION; Woojin Plaimm GmbH; Tederic
Recent Development
In December 2022, ENGEL introduced a groundbreaking approach in the distribution of injection molding machines. The renowned machine manufacturer now offers its customers a pay-per-use model in addition to traditional machine purchases. This innovative offering allows processors to minimize their investment risk while simultaneously enhancing production flexibility. ENGEL's initiative marks a significant advancement in the injection molding sector.
In July 2022, Bloom-in-Box, a manufacturer of environmentally-friendly plastic products, took a significant step toward achieving carbon neutrality. It has acquired a Fanuc Roboshot injection molding machine. By installing the Roboshot S150iA at its Burscough facility, Bloom-in-Box ensured that the machine operates solely on renewable solar energy. It consumes a minimal 3kW per hour. This investment aligns with the company's commitment to eco-conscious practices. It also contributes to its progress in reducing carbon emissions and achieving sustainability goals.
Europe Injection Molding Machines Market Outlook by Category
By Automation:
All-electric
Hydraulic
Hybrid
By Clamping Force:
Between 1500 and 2000
Above 2000
By Material:
Plastic
Metal
Rubber
Ceramic
By End Use:
Automotive
Packaging
Electronics
Healthcare
Consumer Goods
Building & Construction
By Country:
Germany
Spain
Russia
Italy
United Kingdom
France
BENELUX
Nordic
Poland
Rest of Europe
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analystsworldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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SOURCE: Future Market Insights Inc.
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