Hot Runner Market to Reach $5.24 Billion, Globally, by 2026, at 7.9% CAGR: Allied Market Research

- The advantage of cost-saving coupled with higher volume of production and increase in demand for complex injection molded products propel the growth of the global hot runner market

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.

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.

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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.

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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.

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