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At CAGR of 7.9% Hot Runner Market To Grow And Reach $2.8 Billion by 2026 [ 250 Pages Report ]
PORTLAND, UNITED STATES, UNITED STATES, February 27, 2023 /EINPresswire.com/ -- Hot runners are used in a variety of plastic injection molding applications, including automotive, consumer goods, medical, and electronics.
According to a new report published by Allied Market Research, titled,"Hot Runner Market: Global Opportunity Analysis and Industry Forecast, 2019 - 2026,"the global hot runner market size was $2,854.0 million in 2018, and is expected to reach $5,241.5 million by 2026, growing at a cagr of 7.9% from 2019 to 2026.
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Hot runner systems are composed of two main components: the manifold, which is the heated plate that distributes the molten plastic to the cavities; and the nozzles, which move the molten plastic from the manifold to the cavities. Hot runner systems are used in a variety of plastic injection molding applications and offer several advantages over cold runner systems, including improved part quality, cost savings, and energy efficiency.
The increasing demand for hot runner systems from the automotive industry is a major factor driving the growth of the hot runner market. The automotive industry is the largest consumer of hot runner systems. Hot runner systems are used in automotive applications such as airbag covers, body panels, headlights, and door panel components. The increasing demand for electric vehicles and the increasing focus on lightweight vehicles are expected to drive the demand for hot runner systems in the automotive industry.
The increasing demand for consumer electronics is also driving the growth of the hot runner market. Hot runner systems are used in consumer electronic applications such as mobile phone cases, laptop covers, and tablet enclosures. The increasing demand for consumer electronics, driven by rising disposable incomes in emerging economies, is expected to drive the demand for hot runner systems in the consumer electronics industry.
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Furthermore, the increasing demand for medical devices is also driving the growth of the hot runner market. Hot runner systems are used in medical device applications such as medical implants, stents, and drug delivery devices. The increasing demand for medical devices, driven by the aging population, is expected to drive the demand for hot runner systems in the medical devices industry.
The key players in the hot runner market include Husky Injection Molding Systems Ltd., DME Company, Inc., Mold-Masters Ltd., YUDO Group, and INCOE Corporation. These companies are focusing on the development of innovative products and technologies to gain a competitive edge in the market.
In conclusion, the increasing demand for hot runner systems from the automotive, consumer electronics, and medical devices industries is expected to drive the growth of the hot runner market during the forecast period.
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David Correa Allied Analytics LLP + + +1 503-894-6022 email us here Visit us on social media: Facebook Twitter LinkedIn
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