Norway Injection Molding Machine Market by Product Type (Plastic, Rubber, Metal, Ceramic, and Others), by Machine Type (Hydraulic, All-electric, and Hybrid), by Clamping Force (Below 200 Tons, 200–500 Tons, and Above 500 Tons), by Business Type (New Sales and Aftersales), by End-User (Automotive, Packaging, Electronics, Healthcare, Consumer Goods, Toy Making, Building and Construction, Home Appliances, and Others) –Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Semiconductor & Electronics | Publish Date: 19-Mar-2024 | No of Pages: 88 | No. of Tables: 152 | No. of Figures: 117 | Format: PDF | Report Code : N/A
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Market Definition
Norway Injection Molding Machine Market size was valued at USD 58.60 million in 2023, and is predicted to reach USD 105.43 million by 2030, with a CAGR of 8.3% from 2024 to 2030. An injection molding machine, also referred to as an injection molder, is a sophisticated industrial apparatus designed for the precise and controlled injection of molten plastic material into a mold cavity. It melts the plastic resin and forces it into a mold under high pressure. Injection molding machines are essential tools for producing various plastic parts and products across various sectors, including automotive, consumer goods, electronics, medical devices, and others.
Growing Manufacturing Industries Fuels the Injection Molding Machine Market Growth
The injection molding machines market in Norway is experiencing growth driven by the expanding manufacturing industries in the country. Norwegian manufacturing output recorded a notable increase of 3.3 percent from December 2021 to January 2022, as indicated by statistics such as the production index for the oil and gas industry, mining, and power supply. This surge in manufacturing activity underscores the heightened demand for injection molding machines, which are instrumental in producing a wide range of plastic and metal components crucial to various industries. With Norwegian manufacturing industries on an upward trajectory, the injection molding machines market is poised for sustained growth and development in Norway.
Norway’s Thriving Automotive Industry Drives the Market Growth
The injection molding machine market in Norway is further propelled by the country's thriving automotive industry. Norway's focus on electric vehicles (EVs) and sustainable transportation has led to a surge in EV production and the demand for high-precision components. Injection molding machines are pivotal in producing essential EV parts, driving market growth. For instance, in 2021, electric cars claimed more than 60% share of Norway's car market, with Tesla emerging as a prominent leader in this electrified landscape. This shift highlights Norway's strong commitment to sustainable transportation and the accelerating global trend towards electric mobility, fueling the expansion of the injection molding machine market in Norway.
Emergence of Alternative Manufacturing Technologies Hinders the Market Growth
Emergence of alternative manufacturing technologies, such as 3D printing and additive manufacturing also restrains growth of the injection molding machines market. These innovative methods offer unique advantages that are drawing attention away from conventional injection molding. Industries that prioritize customization, rapid prototyping, and waste reduction are increasingly turning to 3D printing and additive manufacturing.
This diversion of demand impacts the injection molding machines market, particularly in sectors where these alternatives better suit the production requirements. As a result, injection molding machine manufacturers face the challenge of adapting to changing market dynamics and finding ways to remain competitive, as manufacturing technologies continue to evolve.
Customized Products from Diverse Industries Offer a Prime Opportunity for Growth and Innovation
A significant factor expected to create substantial market opportunities for injection molding machines in the future is rise in demand for customization and personalized products. This trend is becoming evident across various industries, ranging from consumer goods to electronics. Injection molding machines are at the forefront of catering to this trend.
Machines that possess the ability to quickly switch between different molds and efficiently produce small batches play a pivotal role in enabling manufacturers to respond to this demand for customization. These machines empower manufacturers to produce items that are tailor-made to suit specific requirements and preferences. Whether it's creating custom-designed consumer goods or producing electronics with unique features, injection molding machines equipped for such versatility are crucial for fulfilling consumers’ demand.
Competitive Landscape
The Norway injection moulding machine industry includes several market players such as Hillenbrand, Inc., Sumitomo Heavy Industries, The Japan Steel Works, NISSEI, Ube Industries, Ltd., ENGEL, ARBURG, Haitian International, Husky Injection Molding Systems, and KraussMaffei Group.
The Norway Injection Moulding Machine Market Key Segments
By Product Type
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Plastic
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Thermoplastics
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Thermosets
-
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Rubber
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Metal
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Powder
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Liquid
-
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Ceramic
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Others
By Machine Type
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Hydraulic
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All-electric
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Hybrid
By Clamping Force
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Below 200 Tons
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200–500 Tons
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Above 500 Tons
By Business Type
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New Sales
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Aftersales
By End-User
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Automotive
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Interior
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Trim
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Exterior
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Others
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-
Packaging
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Caps and Closures
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Thin-wall Containers
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Lids
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Personal Care
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Containers
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PET Preforms
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Others
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-
Electronics
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Healthcare
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Consumer Goods
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Toy Making
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Building and Construction
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Flooring
-
Windows
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Doors
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Others
-
-
Home Appliances
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Others
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 58.60 million |
|
Revenue Forecast in 2030 |
USD 105.43 million |
|
Growth Rate |
CAGR of 8.3% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Hillenbrand, Inc.
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Sumitomo Heavy Industries
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The Japan Steel Works
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NISSEI
-
Ube Industries, Ltd.
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ENGEL
-
ARBURG
-
Haitian International
-
Husky Injection Molding Systems
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KraussMaffei Group
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