Hot Runner Temperature Controller Market

Hot Runner Temperature Controller Market to Exceed Value of US$ 1 Bn by 2031, expanding at a CAGR of 8% during the forecast period

ALBANY, NY, US, January 11, 2022 /EINPresswire.com/ -- Transparency Market Research delivers key insights on the global hot runner temperature controller market. In terms of revenue, the global hot runner temperature controller market is estimated to expand at a CAGR of 8% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global hot runner temperature controller market.

Companies are heavily investing in R&D to launch an exclusive collection of hot runner temperature controllers. Manufacturers are expanding their product lines to meet the increasing demand for hot runner temperature controllers. Moreover, the growing demand from healthcare and automotive sectors is expected to boost the hot runner temperature controller market during the forecast period.

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Hot Runner Temperature Controller Market: Key Segments

In terms of the value, 12-48 control zones segment is expected to account for a major share of the global hot runner temperature controller market and expand at the fastest rate during the forecast period, as this zone is witnessing an increase in applications. Furthermore, in terms of volume, up to 12 control zones are expected to hold major share due to relative low price of the product.

In terms of temperature, the above 400c segment is expected to account for major market share and also expand at the fastest growth rate during the forecast period. The large share can be attributed to huge production of hot runner temperature controllers by manufacturers to provide control over high temperature molding.

In term of pricing, the low range segment is projected to hold major market share during the forecast period, since low range products are majorly sold and are widely used in numerous applications. Furthermore, the availability of several low priced products is anticipated to drive the growth of the low range segment during the forecast period.

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In terms of end-use industry, the automotive segment followed by consumer goods is likely to dominate the market. The automotive sector is projected to grow at a steady rate and experiencing radical changes; for instance, replacement of metal with plastic components to achieve greater car weight reductions. Thus, these factors are expected to contribute to the growth of the hot runner temperature controller market in the automotive sector during the forecast period.

In terms of distribution channel, direct sales is expected to be the most attractive segment of the hot runner temperature controller market during the forecast period, since companies tend to purchase the product directly from manufacturers in order to avoid the charges applied by the distribution partner.

Increased Efficiency in Energy, Time, Reliability Boosts Market Demand

The expanding usage of high-quality injection-molded plastic products in end-use applications is the principal factor driving the hot runner controller market. The growing adoption of a hot runner controller due to various advantages, such as energy saving, efficiency, and productivity, thus driving the hot runner controller market. Steady economic growth and promising government regulations related to advancements in the industrial sector are positively influencing the growth of the hot runner controller market. Furthermore, technical advancements and uniformity in components, analysis tools, and modular design advancements are likely to create lucrative growth opportunities for key players of the hot runner controller market in the upcoming years

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Hot Runner Temperature Controller Market: Prominent Regions

Asia Pacific is expected to hold major market share, followed by Europe. The large share of Asia Pacific can be attributed to the use of hot runner temperature controllers for the production of consumer goods and electronic products. Furthermore, in Europe, increasing molding applications in healthcare, automotive, and other industries is projected to propel the hot runner temperature controller market at the fastest growth rate during the forecast period. As compared to other regions, the market in Middle East & Africa and South America is projected to witness slower growth rate during the forecast period.

Hot Runner Temperature Controller Market: Key Players

Key players operating in the global hot runner temperature controller market are EMI Corporation, EWIKON Heißkanalsysteme GmbH, Gammaflux, GÜNTHER Heisskanaltechnik GmbH, Hillenbrand, Inc. (Mold-Masters), Husky Injection Molding Systems Ltd., Inglass S.p.A., Meusburger Georg GmbH & Co KG, Mold Hotrunner Solutions Inc., and Yudo (Suzhou) Hot Runner Systems Co., Ltd., among others.

Hot Runner Temperature Controller Manufacturers Working on Technological Innovation, Developments to Improve Overall Share of Global, Regional Market

Major companies opt for technologically advanced and convenient products. Manufacturers are undertaking upgrades that emphasize on improved touch-screen controls, more compact designs, and the ability to handle more temperature zones. This is expected to drive the overall growth of the hot runner temperature controller market.

Transformation of raw plastic into useful forms using hot runner controllers has created huge prospects for the hot runner temperature controller market. The rising need for molded plastic in the automotive, home appliance, electrical, and electronics sectors has resulted in an increase in demand for hot runner temperature controller systems during the world, and the market is expected to rise at a stable rate throughout the projected period.
Plastic components are becoming more popular in the manufacturing of flexible packaging, pipes, insulation and coatings, and medical devices, as it is great versatility, which is driving the demand for hot runner controlling devices globally

Changing lifestyles due to rise in disposable income is expected to accelerate the demand for hot runner temperature controllers across the world during the forecast period

The hot runner mode of operation and maintenance is complicated. Thus, companies have to face high initial investment cost for proper maintenance and operation, which is likely to hamper the hot runner temperature controller market during the forecast period.

In the healthcare sector, plastics are used to manufacture a wide range of medical instruments. This is leading to increased demand for hot runner systems and hence, creating lucrative opportunities for the hot runner temperature controller market.

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TMR
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