Canada 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: 18-Mar-2024 | No of Pages: 89 | No. of Tables: 152 | No. of Figures: 117 | Format: PDF | Report Code : N/A
Market Definition
Canada Injection Moulding Machine Market size was valued at USD 436.61 million in 2023, and is predicted to reach USD 693.87 million by 2030, with a CAGR of 6.5% 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.
Canada's Role in the Global Injection Molding Machine Market Amid Automotive Advancements
Canada, as a significant player in the global manufacturing landscape, holds a notable position within the injection molding machine market. The country's diverse industries, including automotive, packaging, aerospace, and healthcare, rely on injection molding technology for precision manufacturing and innovative product development. The remarkable growth of Canada's injection molding machine industry is closely related to the growing automotive production and sales.
According to the reports published by the International Trade Administration in August 2022, the government of Canada is aiming to reach carbon neutrality by 2050, and has allocated large investment resources in the 2021 and 2022 budget toward infrastructure and a green economy. Canadian subsidiaries of U.S. automakers announced substantial investments, including General Motor (USD 785 million), Ford (USD 1.5 billion), and Stellantis (USD 1.14 billion), to prepare their production lines for electric vehicles. In addition, in early 2022, GM Canada, Ford Motors Canada, and Stellantis Canada announced building their own facilities to manufacture batteries for electric vehicles. As the automotive industry advances, injection molding machines are increasingly sought after for their ability to craft lightweight, precise, and innovative components.
Rising Manufacturing Sector in Canada Fuels Injection Molding Market Growth
The injection molding machine market in Canada is significantly fueled by role of manufacturing in the country's economy. According to Government of Canada, manufacturing is a cornerstone of our modern economy. Accounting for approximately USD 174 billion of our GDP, manufacturing represents more than 10% of Canada's total GDP. In addition, manufacturers export more than USD 354 billion each year, representing 68% of all of Canada's merchandise exports. As a key player in the manufacturing landscape, the injection molding industry in Canada benefits from this growing economic foundation, positioning itself as a significant contributor to the nation's manufacturing excellence and international trade success.
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 Canada 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.
Canada Injection Moulding Machine Market Key Segments
By Product Type
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Plastic
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Thermoplastics
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Thermosets
-
-
Rubber
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Metal
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Powder
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Liquid
-
-
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
-
-
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
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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 436.61 Million |
|
Revenue Forecast in 2030 |
USD 693.87 Million |
|
Growth Rate |
CAGR of 6.5% 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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