Report : Europe Hot Runner Temperature Controller Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Valve Gate Hot Runner and Open Gate Hot Runner), Application (Automotive Industry, Electronic Industry, Medical Industry, Packaging Industry, and Others), and Control Zone (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)
Packaging Industry Segment to dominate Europe Hot Runner Temperature Controller Market during 2020–2028
According to a new market research study on “Europe 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$ 45.71 million by 2028 from US$ 30.15 million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the Europe hot runner temperature controller market along with the drivers and restraints pertaining to the market growth. Lesser cycle time and reduction of plastic waste, and up-surging use of molded plastics in automotive, medical devices, construction, and packaging industries, and raising adoption of new-generation multizone hot runner controller technology are the major factor driving the growth of the Europe hot runner temperature controller market. However, major dependency on manufacturing sector hinder the growth of Europe hot runner temperature controller market.
The COVID-19 pandemic is predicted to have a greater impact on European industries than the 2008–2009 industrial crisis. The industrial sector in the region reported lower production levels in 2020 than those recorded in 2019. Several industries in Europe faced downfall in the second quarter of 2020, compared with second quarter of 2019. The metal technology sector and the mechanical engineering industry faced a downfall of 24.2% and 21%, respectively, while the output of electrical and electronics sector lowered down to 14.2% during the second quarters of 2020. Automotive is one of the most affected European industries by the COVID-19 pandemic, which is also one of the major adopters of automation technologies. The slowdown in industrial operations amid this crisis has led to reduction in investments in injection molding operations and robotics machinery adoption. Moreover, concerns regarding productivity among the injection molding vendors has also brought a change in the adoption of automation technologies such as digital equipment (temperature controllers and other technologies) across industrial operations. According to the research study, it is predicted that more than 50% of the industrial operations are expected to be automated by 2025 across different sectors in Europe, which would boost the adoption of hot runner temperature controller equipment in the region during the forecast period.
The Europe 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 France, Germany, Italy, the UK, Russia, and Rest of Europe. In 2020, Germany held the largest share in the market and the UK 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; and Mold Hotrunner Solutions Inc. are among the leading companies in the Europe 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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