The market is anticipated to grow at a CAGR of 5.3% from 2022 to 2032, reaching an estimated value of US$ 8764.6 million in 2032. The target market is anticipated to reach an approximate value of US$ 52437 Million in 2022. Extrusion equipment market expansion will be fueled by rising manufacturing sector investment as well as a surge in demand for extrusion goods over the course of the forecast period.
Equipment used for extrusion is flexible and lightweight. These innate qualities of extrusion machinery generate demand for it on the world market.
Increasing global awareness of energy conservation will further aid the growth of the extrusion equipment market. In addition to this, plastic extrusion equipment manufacturers are focusing more and more on the production of dependable and effective twin-screw plastic extrusion machines, which, in turn, fosters growth for the extrusion equipment market.
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With the rising popularity of additive manufacturing process, the sales of extrusion equipment will also rise. This is because the additive manufacturing process which is also known as fuse deposition modeling (FDM), can create complex geometries with details and is often used in the extrusion process. Consequently, this process will likely become a key growth driving factor of the extrusion equipment market.
Furthermore, the urban population of developing countries is showing a preference for processed product types, which contributes to the growing demand for foodextrusion equipment. Also, the high disposable incomes and rapidly changing lifestyles, has bolstered the demand for ready-to-eat products, which are convenient and save effort and time. This factor, too fosters the expansion of the extrusion equipment market size.
Other factors like the initiatives taken by regional government that aim at micro, small, and medium-sized enterprises (MSME) as well as recent technological advancements will further aid the growth of the extrusion equipment market during the forecast period.
“Rising popularity of additive manufacturing process will supplement the global growth of the extrusion equipment market over the forecast period,” says an FMI analyst.
Key Takeaways:
- High installation and maintenance costs may stymie market growth.
- Rising awareness regarding energy conservation strengthens market prospects.
- The extrusion equipment market in Europe will account for 22.9% of the revenue share.
- North America’s extrusion equipment market will hold 26.3% of the overall revenue share.
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Competitive Landscape
HPM, Tecnomatic, Unicor, Hegler, Vulcan Extrusion, ITIB Machinery International, Toshiba Machine Co. Ltd., Windsor Machines Limited, Krauss-Maffei Group, UNION Officine Meccaniche SpA, Bausano & Figli SpA, Kabra ExtrusionTechnik Ltd., Leistritz Advanced Technologies Corp., Midas Pharma, PMC Isochem, Pensatech Pharma GmbH, Baker Perkins, and Bühler among others are some of the major players in the extrusion equipment market profiled in the full version of the report.
Key market players are employing both organic and inorganic strategies to build their market presence and expand their product portfolio. These businesses are increasing investment in their research and development activities, partnerships, agreements, and collaborations to gain a competitive advantage.
More Insights into Extrusion Equipment Market Report
In its latest report, FMI offers an unbiased analysis of the global extrusion equipmentmarket, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (single screw extruders, twin screw extruders, downstream equipment), load type (variable, hydrostatic), press position (horizontal, vertical), end user (plastic goods, processed food, pharmaceutical, non-conventional energy, construction materials), and region.
According to the latest FMI reports, based on region, the extrusion equipmentmarket in North America will present considerable growth during 2022-2032. The target market in this region will account for a revenue share of 26.3%. The advancing manufacturing infrastructure along with the high per capita income, particularly in the U.S., fuels the growth of the extrusion equipmentmarket in this region during the forecast period. In addition, Europe’s extrusion equipmentmarket, too, demonstrates strong growth potential during this period with about 22.9% revenue share. A well-established snack food sector propels the target market growth in this region during the forecast period.
Market Segments Covered In Extrusion Equipment Market Analysis
By Product Type:
- Single Screw Extruders
- Twin Screw Extruders
- Downstream Equipment
By Load Type:
- Variable
- Hydrostatic
By Press Position:
- Horizontal
- Vertical
By End User:
- Plastic Goods
- Processed Food
- Pharmaceutical
- Non-Conventional Energy
- Construction Materials
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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