Global Vertical Injection Molding Machine Market Size By Type (Electric, Hydraulic), By Application (Automotive, Medical Industry), By Region, And Segment Forecasts, 2023 to 2032

The Global Vertical Injection Molding Machine Market was valued at USD 5.2 billion in 2023 and is projected to reach USD 8.4 billion by 2031, growing at a CAGR of 6.5% during the forecast period from 2023 to 2031. The market's growth is driven by increasing demand in industries such as automotive, electronics, and medical, where precision molding is critical. Vertical injection molding machines are favored for their ability to handle small parts and insert molding applications, making them essential in producing components with complex designs and stringent tolerances.

Drivers:

Rising Demand in Automotive and Electronics Sectors:

The increasing adoption of lightweight and precision-engineered components in automotive and consumer electronics is a major driver for the vertical injection molding machine market.

Advancements in Automation and Energy Efficiency:

Newer models of vertical injection molding machines incorporate advanced automation and energy-efficient technologies, enhancing productivity and reducing operational costs.

Growth in Medical Devices Manufacturing:

The medical industry is experiencing a surge in demand for precision-molded components, further propelling the growth of the market.

Restraints:

High Initial Costs:

The capital expenditure required for advanced vertical injection molding machines can be prohibitive for small and medium-sized enterprises (SMEs).

Competition from Horizontal Molding Machines:

Horizontal injection molding machines often dominate the market for large-scale production, posing a challenge to vertical machines.

Opportunity:

Adoption of Smart Manufacturing:

The integration of IoT and AI technologies in vertical injection molding machines offers significant opportunities for improving production monitoring and efficiency.

Expansion in Emerging Markets:

Rapid industrialization and the establishment of manufacturing hubs in Asia-Pacific and Latin America are expected to create lucrative opportunities for market players.

Market by System Type Insights:

Fully Electric Machines: Dominated the market in 2023 due to their energy efficiency and precision, making them popular for high-volume production.

Hydraulic Machines: Continue to hold a substantial share, particularly for heavy-duty applications requiring higher clamping force.

Market by End-Use Insights:

Automotive Segment: Accounted for the largest share in 2023, driven by the need for lightweight and durable components.

Medical Industry: Witnessed significant growth due to the increasing production of complex and precise medical devices.

Market by Regional Insights:

Asia-Pacific: Emerged as the largest market in 2023, supported by robust industrialization and the presence of major manufacturing hubs in countries like China, India, and Japan.

North America: Expected to register strong growth, driven by advancements in automation and an increase in reshoring manufacturing activities.

Competitive Scenario:

Key players in the Global Vertical Injection Molding Machine Market include Arburg GmbH, Engel Austria GmbH, Nissei Plastic Industrial Co., Ltd., Milacron Holdings Corp., Toshiba Machine Co., Ltd., and Sumitomo (SHI) Demag. Strategies include product innovation, mergers & acquisitions, and expansion into emerging markets to strengthen their market position.

Scope of Work – Global Vertical Injection Molding Machine Market

Key Market Developments:

2023: Arburg GmbH introduced a new series of energy-efficient vertical injection molding machines, focusing on sustainability.

2024: Engel Austria GmbH partnered with a leading electronics manufacturer to develop customized vertical molding solutions.

2025: Nissei Plastic Industrial Co., Ltd. announced the launch of IoT-enabled machines for smart manufacturing applications.

FAQs:

What is the current market size of the Global Vertical Injection Molding Machine Market?

The market size was valued at USD 5.2 billion in 2023.

What is the major growth driver of the Global Vertical Injection Molding Machine Market?

Increasing demand in the automotive and electronics sectors is the primary driver.

Which is the largest region during the forecast period in the Global Vertical Injection Molding Machine Market?

Asia-Pacific is expected to remain the largest region due to rapid industrialization and a strong manufacturing base.

Which segment accounted for the largest market share in the Global Vertical Injection Molding Machine Market?

The automotive segment held the largest market share in 2023.

Who are the key market players in the Global Vertical Injection Molding Machine Market?

Major players include Arburg GmbH, Engel Austria GmbH, Nissei Plastic Industrial Co., Ltd., Milacron Holdings Corp., and Toshiba Machine Co., Ltd.