12-48 Zones Segment to dominate Asia Pacific Hot Runner Temperature Controller Market during 2020–2028

According to a new market research study on “Asia Pacific Hot Runner Temperature Controller Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User,” is expected to reach US$ 64.39 million by 2028 from US$ 36.09 million in 2021. The market is estimated to grow at a CAGR of 8.6% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific hot runner temperature controller market along with the drivers and restraints pertaining to the market growth. Flourishing IoT and industry 4.O, thriving adoption of new-generation multizone hot runner controller technology, and fostering use of molded plastics in automotive, medical devices, construction, and packaging industries are the major factor driving the growth of the Asia Pacific hot runner temperature controller market. However, strong dependency on manufacturing sector hinder the growth of Asia Pacific hot runner temperature controller market.

Asia Pacific includes most of the world’s highly populated countries, such as China, India, and Japan, which has led to a harsh impact of the COVID-19 pandemic on these countries. Also, the metal injection molding industry across countries such as China and India have witnessed adverse effects of the pandemic, which has been a major factor to lower the adoption of hot runner temperature controller systems across the region. Moreover, the temporary shutdown of industrial facilities has resulted in disruption in production of different industrial products due to reduction in demand. The pandemic has also raised the concerns regarding the shortage of molded plastics for different industries due to a widened demand and supply gap across Asian countries, caused by increased demand for plastics for food packaging, automobile components, and personal protective equipment. The demand for plastic molding has also increased due to adoption of plastics across multiple industries such as automotive, aerospace, medical, packaging, and electrical & electronics which will impact the industrial operations in the near future. This is expected to boost the demand for automation across the molding industry in Asia Pacific, further bolstering the demand for equipment such as hot runner temperature controllers.

The Asia Pacific hot runner temperature controller market is segmented on the basis of type, application, control zone, and country. Based on type, the hot runner temperature controller market is segmented into valve gate and open gate. In 2020, valve gate segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. On the basis of application, the hot runner temperature controller market is segmented into automotive industry, electronic industry, medical, packaging industry, and others. In 2020, packaging industry segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. based on control zone, the hot runner temperature controller market is segmented into up to 12 zones, 12-48 zones, 48-72 zones, 72-108 zones, 108-144 zones, 144-180 zones, 180-216 zones, and above 216 zones. In 2020, 12-48 zones segment held the largest share in the market and 48-72 zones is expected to be the fastest growing segment during the forecast period. Based on country the market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. In 2020, China held the largest share in the market and India is expected to be the fastest growing country during the forecast period.

Gammaflux; Husky Injection Molding Systems Ltd.; Meusburger Georg GmbH & Co KG; INGLASS S.P.A.; Hillenbrand, Inc.; GÜNTHER Heisskanaltechnik GmbH; EWIKON HEIßKANALSYSTEME GMBH are among the leading companies in the Asia Pacific hot runner temperature controller market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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