Hot Runner Market to Reach $5.24 Billion, Globally, by 2026, at 7.9% CAGR: Allied Market Research
PORTLAND, Oregon, July 17, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Hot Runner Market by Type (Valve Gate Hot Runner and Open Gate Hot Runner), and Application (Automotive Industry, Electronic Industry, Medical Industry, Packaging Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026." The report provides a detailed analysis of drivers & opportunities, changing market trends, competitive market landscape, and market size & estimates. As per the report, the global hot runner market accounted for $2.85 billion in 2018 and is expected to hit $5.24 billion by 2026, registering a CAGR of 7.9% during 2019-2026.
https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
The advantage of cost-saving coupled with higher volume of production and increase in demand for complex injection molded products fuel the growth of the global hot runner market. On the other hand, several threats of substitutes hamper the growth to some extent. However, high-end technological advancements are expected to create lucrative opportunities for key players in the industry.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5379
Automotive industry segment to maintain its dominance through 2026
Based on machine type, the automotive industry segment accounted for more than one-third of the total market share and is expected to lead the trail during the estimated period. As one of the most demanding and challenging sectors in plastics, automotive industry demands just-in-time (JIT) production conditions, technological advances, and exclusive customer service. This, in turn, provides opportunities for hot runner system manufacturers to develop injection-molded plastics on a frequent basis. The same segment is also expected to register the fastest CAGR of 8.5% till 2026.
Valve gate hot runner segment to retain its top status by 2026
Based on process type, the valve gate hot runner system contributed to nearly three-fourths of the total market revenue and is anticipated to dominate during 2019-2026. This is attributed to the array of benefits offered by the system such as perfect finishing on the injection point, lower pressure, less shearing of plastic material, and better injection flow. The same segment is also projected to grow at the fastest CAGR of 8.1% throughout the study period.
Asia-Pacific region garnered the major share in 2018
Based on geography, the market across the Asia-Pacific region held the major share in 2018, accounting for two-fifths of the total market. The presence of many small to mid-level manufacturing sectors such as consumer goods, packaging, automotive, and others requiring high quality and complex injection-molded plastic products in economies such as China, and India drive the growth of the segment. The region is also projected to showcase the fastest CAGR of 8.6% during the forecast period.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5379
Frontrunners in the industry
The key market players analyzed in the report include CACO Pacific Corporation, Barnes Group Inc., INglass Group, Fast Heat UK Limited, EWIKON Molding Technologies, Inc., Fisa Corporation, Husky Injection Molding Systems Ltd., INCOE Corporation, Yudo Group, Milacron, Seiki Corporation, and Günther Heisskanaltechnik. Incorporating a number of high-end strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others, these market players have become able to strengthen their stand in the industry.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Similar Reports:
Smoke Detectors Market is Expected to Reach $2,602 Million, Globally, by 2023
Global Hopper Dryers Market Expected to Reach $576.2 Million by 2025
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
View original content:http://www.prnewswire.com/news-releases/hot-runner-market-to-reach-5-24-billion-globally-by-2026--at-7-9-cagr-allied-market-research-300886464.html
SOURCE Allied Market Research
