The India injection molding machine market value is expected to increase from US$ 707.3 million in 2023, to US$ 1,537.4 million by 2033. In 2022, India injection molding machines industry was valued at US$ 655.1 million and is anticipated to exhibit Y-o-Y growth of 8.0% in 2023.
Over the forecast period from 2023 to 2033, injection molding machine sales across India are likely to soar at a CAGR of 8.1%. The target market is likely to create an attractive incremental growth opportunity of US$ 882.3 million through 2033. It is set to expand 2.2x times the current market value during the forecast period.
As per Future Market Insights (FMI), the automotive segment by end use held a share of about 29.2% in 2022 within the India market. This can be attributable to rising usage of injection molding machines in the thriving automotive sector.
The hydraulic segment with a market share of more than 44.9% in 2033 is expected to lead the India injection molding machines industry. As per the latest report, hydraulic injection molding machine demand is anticipated to rise at around 7.4% CAGR over the forecast period.
Key Factors Shaping India Injection Molding Machine Industry:
Injection molding machines are equipment used to produce plastic parts by injecting molten plastic into a mold cavity. These machines allow end users to easily and quickly produce a wide variety of products with intricate designs.
Rising usage of injection molding for creating plastic parts and components in large quantities across various sectors is expected to boost the target market through 2033.
Injection molding is revolutionizing the way plastic products were produced during ancient times. It is becoming a versatile and highly efficient process for large-scale production and enables the creation of intricate and precise parts with consistent quality.
Injection molding machines are widely used in the manufacturing sector for producing a wide variety of plastic products, from small components to large automotive and household items.
With rising demand for plastic products from various sectors including automotive, packaging, and healthcare, sales of injection molding machines are likely to rise rapidly across India. This is because these injection molding machines are being increasingly employed for producing a wide range of plastic products.
The injection molding machine market is expected to see increased automation, with more machines incorporating robotics and artificial intelligence (AI) to improve efficiency, reduce downtime, and enhance product quality. This is likely to boost the target market during the assessment period.
Booming automotive sector across India is acting as a catalyst stimulating growth of the injection molding machine industry.
The automotive sector is a key consumer of injection molded plastic components such as dashboards, door panels, bumpers, and interior trims. Injection molding machines are used to manufacture these components in large volumes with high precision and consistency.
With increasing focus on sustainability, various companies are offering injection molding machines that are energy-efficient and have a low carbon footprint. This will help them to improve their revenues.
| Attribute | Key Insights |
|---|---|
| Estimated India Injection Molding Machine Market Size (2023) | US$ 707.3 million |
| Projected Market Size (2033) | US$ 1,537.4 million |
| Value CAGR (2023 to 2033) | 8.1% |
| Collective Value Share: Top 5 Countries (2022A) | 25% to 30% |
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As per Future Market Insights (FMI), sales of injection molding machines in India market increased at around 5.5% CAGR during the historic period from 2017 to 2022. Total market value reached about US$ 655.1 million at the end of 2022.
Looking ahead, the injection molding machines industry in India is expected to thrive at a robust CAGR of 8.1% during the assessment period. It is likely to attain a valuation of US$ 1,537.4 million by 2033.
Growing adoption of injection molding machines across numerous sectors including packaging and automotive is driving India market forward.
The packaging sector is rapidly expanding because of advancements in technology for packaging and increasing consumer demand for packaged goods and sustainable packaging.
Packaged product usage is expanding in rural regions, and the growing middle-class population is driving demand for packaged goods. Because of these causes, per capita spending on packaged goods has increased.
The increased competition among packaging makers has resulted in the use of various types of packaging. This is boosting the market for rigid plastic packaging and, as a result, the packaging industry's demand for injection molding machines.
Injection molding is most commonly employed in the packaging of plastic products like containers and cups. These machines allow end users to easily and quickly produce a wide range of products.
The healthcare sector in India has been expanding rapidly over the last decade and is expected to further gain momentum. According to the India Brand Equity Foundation (IBEF), the healthcare sector in India gained momentum at a CAGR of 22% from 2016 to 2022. It reached a valuation of US$ 372 billion at the end of 2022 and is further predicted to thrive at a fast pace going forward.
The Indian healthcare sector is divided into numerous sub-sectors, including hospitals, medicines, medical equipment, diagnostics, and health insurance.
The healthcare sector primarily uses injection molding machines to manufacture medical gadgets, diagnostic tools, and pharmaceutical packaging. Medical equipment such as syringes, catheters, inhalers, and surgical instruments are frequently made with injection molding.
Injection molding process is also used to manufacture diagnostic tools like test kits and related equipment as well as pharmaceutical packaging such as vials, ampoules, and pill containers.
India has the potential to become a highly lucrative market for injection molding machine manufacturers. This is due to several benefits of injection molding in the healthcare sector and the robust growth prospects for the healthcare sector in India.
The capacity to make intricate forms and designs with high accuracy and precision is one of the key benefits of injection molding for various end uses. As a result, injection molding machines are being used in new market applications, such as the production of micro-components, optical lenses, and 3D printing molds.
Injection molding machines are increasingly being used in the production of optical lenses. This is due to their ability to create lenses with unusual forms and characteristics, such as spherical lenses, which are challenging to create with traditional lens manufacturing techniques.
Further, the use of polymer materials is less expensive than traditional lens materials, such as glass, helping create an economical solution.
For industries that keep developing new small and intricate parts, such as electronics, medical devices, and automotive, injection molding for micro-components proves significantly efficient. With other manufacturing techniques, it might be challenging to produce items with extremely fine features and strict tolerances.
The injection molding process offers the ability to create complex shapes with intricate designs. The flexibility of production offered by injection molding machines is creating opportunities in new markets.
Principal Consultant
Plastic Segment to Hold a Dominant Market Share
Based on material, plastic segment is expected to hold a dominant market share of 72.1% in 2023. Further, it is likely to thrive at a CAGR of 7.8% during the projection period. This is due to increasing demand for plastic from various sectors including automotive.
Usage of plastic packaging materials is increasing due to the rising demand for convenience and durability in packaging. Similarly, demand for medical devices and equipment made from plastic materials is rising due to the need for cost-effective and disposable products.
The escalating demand for plastic products across various sectors, such as automotive, packaging, and healthcare in turn is expected to fuel injection molding machines sales.
In recent years, usage of plastic molded parts has increased dramatically across India and other emerging nations. This is due to the rising trend of lightweighting in the automotive sector to enhance fuel efficiency.
Injection molding machines are used to easily and cost-effectively produce a wide range of plastic products. Hence, growing usage of plastic across India is set to drive the demand for injection molding machines through 2033.
Automotive Sector to Generate Lucrative Revenues
By end use, automotive segment is estimated to hold 29.1% of the market in 2023, creating an incremental opportunity of US$ 231.4 million during the forecast period. This is due to rising usage of plastics and increasing applications of injection molding machines in the booming automotive sector.
The automotive sector is a leading consumer of injection molded plastic components such as bumpers, dashboards, door panels, and interior trims. Injection molding machines are used to manufacture these components in large volumes with high precision and consistency.
The automotive sector in India has seen significant growth over the past few years due to favorable government policies. Growing export market and increased investment have also contributed to the growth of the automotive sector in India, making it an important sector for the country's economy.
Key manufacturers of injection molding machines are rapidly shifting their focus on developing technologically advanced machines to meet end user requirements. They are also employing strategies such as partnerships, acquisitions, mergers, facility expansions, alliances, etc. to gain profits.
Recent developments:
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| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | US$ 707.3 million |
| Projected Market Value (2033) | US$ 1,537.4 million |
| Anticipated Growth Rate (2023 to 2033) | 8.1% CAGR |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ Million, Volume in Units and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Automation, Clamping Force, Material, End Use |
| Key Companies Profiled | D&M Enterprises; Electronica Plastic Machines; Engel Machinery India; Jagmohan PLA Match; Kanath Engineering; Polymechplast Machines; Pratishna Engineers; S&T Plastic Machines; Windsor Machines |
The growing demand for plastic products in India is driving the growth of the India injection molding machine market.
The growing demand for plastic products in Europe and Germany is driving the sales of injection molding machines in these regions.
The booming IT sector has necessitated the adoption of injection molding machine services globally.
The United States held 15% of the global market share in 2022.
Asia Pacific is projected to witness the highest CAGR of 6% through 2033.
1. Executive Summary
1.1. Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Sustainable Trends
3.3. Technological Trends
3.4. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USP’s / Features
4.3. Strategic Promotional Strategies
4.4. Go-to-market Strategies
5. Market Demand Analysis 2017 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Units) Analysis, 2017 to 2022
5.2. Current and Future Market Volume (Units) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Market - Pricing Analysis
6.1. Pricing Analysis
6.2. India Average Pricing Analysis Benchmark
7. Market Demand (in Value or Size in US$ Million) Analysis 2017 to 2022 and Forecast, 2023 to 2033
7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2022
7.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. India Packaging Machinery Market Overview
8.2. Forecast Factors - Relevance & Impact
8.3. Value Chain
8.3.1. Exhaustive List of Component Suppliers
8.3.2. Exhaustive List of Injection Molding Machine Manufacturers
8.3.3. Exhaustive List of Brand Owners/ Customer Base
8.4. Case-based Scenario - Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
8.6. Supply Demand Analysis
8.6.1. Import /Export Analysis
8.7. Installed Based for Injection Molding Machine
9. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Automation
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) and Volume (Units) Analysis, By Automation, 2017 to 2022
9.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast, By Automation, 2023 to 2033
9.3.1. All-electric
9.3.2. Hydraulic
9.3.3. Hybrid
9.4. Market Attractiveness Analysis, By Automation
10. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Clamping Force
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Million) and Volume (Units) Analysis, By Clamping Force, 2017 to 2022
10.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast, By Clamping Force, 2023 to 2033
10.3.1. Between 1500-2000
10.3.2. Above 2000
10.4. Market Attractiveness Analysis, By Clamping Force
11. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Material
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Million) and Volume (Units) Analysis, By Material, 2017 to 2022
11.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast, By Material, 2023 to 2033
11.3.1. Plastic
11.3.2. Metal
11.3.3. Rubber
11.3.4. Ceramic
11.4. Market Attractiveness Analysis, By Material
12. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End Use
12.1. Introduction / Key Findings
12.2. Historical Market Size (US$ Million) and Volume (Units) Analysis, By End Use, 2017 to 2022
12.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast, By End Use, 2023 to 2033
12.3.1. Automotive
12.3.2. Packaging
12.3.3. Electronics
12.3.4. Healthcare
12.3.5. Consumer Goods
12.3.6. Building & Construction
12.4. Market Attractiveness Analysis, By End Use
13. Market Structure Analysis
13.1. Market Analysis by Tier of Companies (Injection Molding Machine)
13.2. Market Share Analysis of Top Players
13.3. Market Presence Analysis
14. Competition Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Competition Deep Dive (India based/ operating Key Market Players)
14.3.1. D&M Enterprises
14.3.1.1. Overview
14.3.1.2. Product Portfolio
14.3.1.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.1.4. Sales Footprint
14.3.1.5. Strategy Overview
14.3.2. Electronica Plastic Machine
14.3.2.1. Overview
14.3.2.2. Product Portfolio
14.3.2.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.2.4. Sales Footprint
14.3.2.5. Strategy Overview
14.3.3. Engle Machinery India
14.3.3.1. Overview
14.3.3.2. Product Portfolio
14.3.3.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.3.4. Sales Footprint
14.3.3.5. Strategy Overview
14.3.4. Jagmohan PLA Match
14.3.4.1. Overview
14.3.4.2. Product Portfolio
14.3.4.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.4.4. Sales Footprint
14.3.4.5. Strategy Overview
14.3.5. Kanath Engineering
14.3.5.1. Overview
14.3.5.2. Product Portfolio
14.3.5.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.5.4. Sales Footprint
14.3.5.5. Strategy Overview
14.3.6. Polymechplast Machine
14.3.6.1. Overview
14.3.6.2. Product Portfolio
14.3.6.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.6.4. Sales Footprint
14.3.6.5. Strategy Overview
14.3.7. Pratishna Engineers
14.3.7.1. Overview
14.3.7.2. Product Portfolio
14.3.7.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.7.4. Sales Footprint
14.3.7.5. Strategy Overview
14.3.8. S&T Plastic Machine
14.3.8.1. Overview
14.3.8.2. Product Portfolio
14.3.8.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.8.4. Sales Footprint
14.3.8.5. Strategy Overview
14.3.9. Windsor Machine
14.3.9.1. Overview
14.3.9.2. Product Portfolio
14.3.9.3. Profitability by Market Segments (Automation/Material/Clamping Force/End Use/Region)
14.3.9.4. Sales Footprint
14.3.9.5. Strategy Overview
15. Assumption & Acronyms Used
16. Research Methodology
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India Injection Molding Machine Market
