Micro Injection Molding Machine Market by Type , Application , and Region - Global Forecast to 2026 (Business Opportunities - Advertising Service)

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Micro Injection Molding Machine Market by Type , Application , and Region - Global Forecast to 2026


The Micro Injection molding Machine Market is projected to reach USD 609 million by 2026, at a CAGR of 9.8% from USD 381 million in 2021. The major drivers of this market are growth in automotive sector and rising demand from medical application. The shift towards nanotechnology and miniaturization in medical industry is driving the demand of highly precise molds which are efficient to perform medical procedures. In addition, the ongoing automation in vehicles and introduction of electric vehicles is further increasing the demand of high-precision parts to enhance the performance. The major restraint to market growth is due to the high technology of all-electric machines, the investment costs are high. Another disadvantage is the high maintenance cost. In case of motor failure, the entire system must be changed, which entails significantly high maintenance costs. The global economic slowdown due to COVID-19 also impacted the market. This has disrupted the global supply chain, severely impacting the automotive industry. To retain the spread of the coronavirus, governments and international bodies issued various regulations for industries and manufacturers.

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Target State: Maharashtra
Target City : Navi Mumbai
Last Update : 28 February 2022 8:22 PM
Number of Views: 49
Item  Owner  : vidhya
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2022-09-25 (0.449 sec)