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Global Hot Runner Market is Projected to Reach USD 4290.55 million USD by 2024

Author: QYResearch | Publish date: 2018-05-30 | Views: 37
The Global Hot Runner market size was 2850.53 million USD in 2017 and it will be 4290.55 million USD in 2024, with a Growth Rate of 6.02% from 2017 to 2024.

The hot runner and mold industry is highly fragmented. The majority of the industry competes on regional and niche levels, with only a few truly global players. The main market players are YUDO, Milacron, Barnes Group, Husky, INCOE, etc. Other players include Seiki Corporation, Gunther, EWIKON, CACO PACIFIC Corporation, HASCO Hasenclever GmbH, INglass, FISA, Hotsys, Mold Hotrunner Solutions, KLN, ANOLE, MOULD-TIP, MOZOI, JINGKONG Mechanical and Electric, Suzhou HTS Moulding, ANNTONG and others.

 

According to the form of the intersection, there are two kinds of hot runner systems, valve gate system and open gate system. It can be widely used in many industries. Survey results showed that the automotive industry is the largest consumption with the market share of 28.45% in 2017. With the development of economy, these industries will need more and more hot runner. So, hot runner has a huge market potential in the future.

 

Competitiveness and price pressure in the injection molding industry has influenced many molders and mold manufacturers to look for new ways to survive and thrive in their regional and global markets. At the same time, the basic operational costs related to resin, energy, manpower and overhead continue to creep up year-after-year, putting more strain on profitability. These combined factors make hot runners a more attractive solution compared to cold runners than ever before.

 

The hot runner market is expected to grow faster than the overall global economy based on macroeconomic drivers involving product life cycles, demographics, technology conversion and greater use of plastic. Demand within the hot runner market is driven more by the frequency of product design changes and model refreshes than by end product volume, because hot runner systems are typically custom ordered for each new product mold, representing a critical factor in the market’s resiliency during economic cycles.


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