Portland, Nov. 06, 2019 (GLOBE NEWSWIRE) — According to the report, the was estimated at $2.85 billion in 2018 and is expected to hit $5.23 billion by 2026, growing at a CAGR of 7.9% from 2019 to 2026. The report offers a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
A rise in the drift for saving cost and higher demand for complex injection molded products drive the growth of the global hot runner market. On the other hand, an increase in the threat of substitutes restrains growth to some extent. However, top-end technological advancements are expected to create multiple opportunities for the key players in the industry.
The automotive industry segment to rule the roost-
Based on the application, the automotive industry segment accounted for more than one-third of the total market share in 2018 and is expected to dominate throughout the forecast period. The same segment is also projected to grow at the fastest CAGR of 8.5% till 2026.
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The valve gate hot runner segment to maintain its lion’s share during the estimated period-
Based on process type, the valve gate hot runner segment contributed to more than two-thirds of the total market revenue in 2018 and is anticipated to dominate during 2019–2026. The same segment would also cite the fastest CAGR of 8.1% by 2026.
Asia-Pacific to showcase the highest CAGR through 2019–2026-
Based on geography, the Asia-Pacific region held the in 2018, generating two-fifths of the total market. The same region would also register the fastest CAGR of 8.6% throughout the estimated period.
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Frontrunners in the industry-
The major market players analyzed in the report include CACO Pacific Corporation, EWIKON Molding Technologies, Inc., Günther Heisskanaltechnik, Milacron, Fast Heat UK Limited, Barnes Group Inc., INglass Group, Yudo Group, Fisa Corporation, Husky Injection Molding Systems Ltd., INCOE Corporation, and Seiki Corporation. They have adopted a number of exclusive strategies to heighten their stand in the market.
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