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The robotic injection molding machine market size is estimated to grow at a CAGR of 4.79% between 2022 and 2027. The market size is forecast to increase by USD 116.32 million. The growth of the market depends on several factors such as the productivity improvement offered by robotic injection molding machines, the improvement in sensors for robots, and the technological innovations in robotic injection molding robots. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
This report extensively covers market segmentation by end-user (automotive, consumer goods, packaging, and others), type (plastics, rubber, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Robotic Injection Molding Machine Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Sensor technology has improved, resulting in higher accuracy and sensitivity. Sensor manufacturers are offering new sensor lines to meet the needs of robot manufacturers. For example, the ATI Industrial Automation Axia80 is a new addition to the force/torque sensor product line. The monolithic instrumentation transducer within the sensor features silicon strain gauges that reduce noise, provide high stiffness, and provide overload protection.
Furthermore, another important area of ??sensor technology is sensor miniaturization, which reduces the cost of sensors and, in turn, the cost of robots. As the price of sensors continues to fall, more and more industrial robots will be able to work alongside humans to improve logistics, support, and patient monitoring in healthcare facilities. Therefore, improvements in robot sensors are expected to drive the growth of the market during the forecast period.
Advances in robotics technology have increased the use of collaborative robots in various industrial processes. Cobots support the manufacturing process and complement manual labor in the production process. They collaborate with people and use special sensors and robotic controls for operation. As industry safety standards become more stringent, market players are focusing on enhancing the safety features of cobots through improved sensor technology.
For example, Wisconsin Plastics, a manufacturer of plastic products with a focus on injection molding and assembly, uses its UR5 cobot on its production line. The use of collaborative robots in repetitive processes, such as loading and unloading injection molding machines, traditionally performed by humans, is expected to grow. This will drive the growth of the market during the forecast period.
Robotic systems are significantly more expensive than automated or manual systems. Installing a robotic system requires investment in equipment, tools, and environmental systems, increasing costs. Additionally, budget-constrained small and medium-sized enterprises (SMEs) are reluctant to invest in robotic systems. Although small and medium-sized enterprises are introducing robots, the investment amount is not that large because they start with a small investment and gradually invest in the robot system.
Moreover, in markets where cheap labor exists, robots are not manufacturers' first choice. These manufacturers are price-sensitive and labor-dependent. A lack of awareness of the long-term benefits of robotic systems also deters companies from making initial investments. Therefore, implementation cost is expected to impede the growth of the market during the forecast period.
The automotive segment will account for a major share of the market's growth during the forecast period.?The automotive industry is increasingly using robots to reduce reliance on manual labor and shorten production-to-delivery lead times. Additionally, the high demand for electric vehicles has increased competition among automakers and encouraged investments in robotic systems to ensure quick delivery of products and gain a competitive advantage. Another major driving force for the growth of the global robotic injection molding machine market in the automotive industry is the need for high-fuel-efficiency vehicles.
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The automotive segment was valued at USD 134.29 million in 2017. The use of cobots is becoming increasingly important in a variety of injection molding applications because they are efficient and require fewer human operators than traditional injection molding equipment. In these situations, cobots offer benefits such as consistent performance in repetitive processes and reduced costs. Therefore, the increasing availability of technologically advanced products that help in the automation of various industrial processes is expected to drive the growth of the automotive segment in the market during the forecast period.
Based on type, the market has been segmented into plastics, rubber, and others. The plastics?segment will account for the largest share of this segment.? Robotic injection molding machines for plastics are broadly utilized in the exhibition of an exceptionally diverse array of components. One of the important benefits of using robotic automation in plastic injection molding is the capability to consistently produce high-quality parts. The accuracy and repeatability of robotic systems ensure that each molded part meets precise specifications, sticking to stringent quality standards. Consequently, the rising use of plastic is anticipated to propel the growth of the plastics segment in the market during the forecast period.
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APAC is estimated to contribute 47% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The demand for robots in China is increasing significantly. Additionally, developing markets in the region such as Vietnam, Thailand, and India are also seeing increased interest in robotic systems, creating a growth opportunity for market players.
Moreover, the countries with the highest robot adoption rates are China, Japan, and South Korea across the globe. In addition, India, Thailand, Vietnam, Singapore, and Malaysia are also seeing increased adoption of robots in various manufacturing processes. APAC serves as a manufacturing hub for several multinational companies (MNCs) that are investing in robotic systems such as cobots to enhance their production processes, resulting in growing demand for robotic injection molding machines in the region.
The outbreak of COVID-19 negatively affected the growth of the regional robotic injection molding machine market in 2020. However, the e-commerce market has grown in the region during the pandemic, which, in turn, has recouped the demand for robotic injection molding machines and rubbers in consumer goods and electronics. Furthermore, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Biomerics LLC, BORCHE North America INC., C and J Industries Inc., Currier Plastics Inc., D and M Plastics LLC, ENGEL Austria GmbH, EVCO Plastics, Formplast GmbH, H and K Muller GmbH and Co. KG, Hehnke GmbH and Co KG, HTI Plastics, Husky Technologies, Majors Plastics Inc., Mold Hotrunner Solutions Inc., Proto Labs Inc., Tessy Plastics Corp., The Rodon Group, TR Electronic, and Woojin Plaimm Co. Ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, robust, tentative, and weak, based on their quantitative data analysis.
The robotic injection molding machine market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027.
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Robotic Injection Molding Machine Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.79% |
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Market growth 2023-2027 |
USD 116.32 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.96 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 47% |
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Key countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
All Plastics LLC, Biomerics LLC, BORCHE North America INC., C and J Industries Inc., Currier Plastics Inc., D and M Plastics LLC, ENGEL Austria GmbH, EVCO Plastics, Formplast GmbH, H and K Muller GmbH and Co. KG, Hehnke GmbH and Co KG, HTI Plastics, Husky Technologies, Majors Plastics Inc., Mold Hotrunner Solutions Inc., Proto Labs Inc., Tessy Plastics Corp., The Rodon Group, TR Electronic, and Woojin Plaimm Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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