Global Hot Runner Market size is projected to be valued $41 Billion by 2024; with a CAGR of 9.2% from 2017 to 2025. A hot runner contains heated components such as hot halves, gates and nozzles. The manifold allocates the plastic inflowing the mold to the nozzles, which pattern it precisely to the injection points in the cavities. Key players are trying to offer wider range of products that will be ultimately more service-based. The market is projected to show notable growth rate in the coming years.
High demand for increasingly complex systems and components, high adoption of hot runner technology across the molding industry, developments in modular designs, and advancement in analysis tools are the factors driving the growth of the global hot runner market. However, competitiveness in the injection molding industry may hinder the growth of the market. Moreover, technical advancements and standardization to growth in the components sector might provide with several growth opportunities in the forecasted year.
The global hot runner market is segmented into type, application, and geography. The hot runner market is segmented by type into valve gate hot runner, and open gate hot runner. Further, the market is segmented by application into electronic industry, automotive industry, packaging industry, medical industry, and other applications.
Based on geography, global hot runner market is segmented into North America, Europe, Asia Pacific, Rest of the World (RoW) North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include INCOE Corporation, Fast Heat Limited, Barnes Group Inc., Milacron, Husky Injection Molding Systems, Seiki Corporation, Inglass SPA, Caco Pacific Corporation, and Ewikon Molding Technologies Inc., among others.
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Scope of the Global Hot Runner Market