Global Plastic Processing Machinery Market is expected to reach USD 43.7 billion by 2025. Plastic is a material with very large molecules considered by low melting points, light weight, high strength-to-weight ratios, and high corrosion resistance. Plastic Processing Machinery is also termed as plastic forming machine, or plastic molding machine is a machinery that uses plastic resins to manufacture final plastic products using blow molding and casting, compression molding, injection molding, and extrusion molding. The plastic resins used may be recycled or new. The plastic processing machinery market is estimated to grow at a significant CAGR over the future period as the scope and its applications are rising enormously across the globe.

Rising demand for packaged products like food and beverages and development of enhanced packaging equipment are documented as major factors of Plastic Processing Machinery Market that are estimated to enhance the growth in the years to come. However, strict government policy regarding use of plastic and its harmful effects on surrounding may restrain overall market growth in the coming years. Plastic Processing Machinery industry is segmented based on product type, end users, and region.

Rotational Molding Machine, Injection Molding Machine, Extrusion Molding Machine, Blow Molding Machine, and Compression Molding Machine are the product types that could be explored in Plastic Processing Machinery in the forecast period. The injection molding machine (IMM) sector accounted for the largest market share and is estimated to lead the overall market in the coming years. This may be because of high demand from manufacturers producing injection molding parts.

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The market may be categorized based on end users like consumer goods, construction, packaging, automotive, and others that could be explored in Plastic Processing Machinery in the foremost period. The packaging sector accounted for largest market share and is estimated to lead the overall market in the coming years. This may be because of high demand for packaged food like ready-to-eat meals, breakfast cereals, and baked foods.

Globally, Asia Pacific accounted for the largest market share of Plastic Processing Machinery and is estimated to lead the overall market in the coming years. The reason behind the growth of overall market could be availability of land along with skilled labor at low cost and expansion of industries like electronics, construction, and automotive. The developing countries like India and China are the major consumer of Plastic Processing Machinery in the region.

Instead, North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. The aspects that may be ascribed to the growth comprise enhancements in plastic processing methods and growing awareness among populace regarding their ecological and health effects. The United States is a major consumer of Plastic Processing Machinery in the region.

The key players of Plastic Processing Machinery Market are Milacron, ARBURG, JSW, Husky Injection Molding Systems, Sumitomo Heavy Industries, Alpha Marathon Film Extrusion Technologies, Toshiba Machine, Aoki Technical Laboratory, Aoki Technical Laboratory, and Krauss Maffei Technologies. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

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Global Plastic Processing Machinery Market is expected to reach USD 43.7 billion by 2025. Plastic is a material with very large molecules considered by low melting points, light weight, high strength-to-weight ratios, and high corrosion resistance. Plastic Processing Machinery is also termed as plastic forming machine, or plastic molding machine is a machinery that uses plastic resins to manufacture final plastic products using blow molding and casting, compression molding, injection molding, and extrusion molding. The plastic resins used may be recycled or new. The plastic processing machinery market is estimated to grow at a significant CAGR over the future period as the scope and its applications are rising enormously across the globe.

Rising demand for packaged products like food and beverages and development of enhanced packaging equipment are documented as major factors of Plastic Processing Machinery Market that are estimated to enhance the growth in the years to come. However, strict government policy regarding use of plastic and its harmful effects on surrounding may restrain overall market growth in the coming years. Plastic Processing Machinery industry is segmented based on product type, end users, and region.

Rotational Molding Machine, Injection Molding Machine, Extrusion Molding Machine, Blow Molding Machine, and Compression Molding Machine are the product types that could be explored in Plastic Processing Machinery in the forecast period. The injection molding machine (IMM) sector accounted for the largest market share and is estimated to lead the overall market in the coming years. This may be because of high demand from manufacturers producing injection molding parts.

The market may be categorized based on end users like consumer goods, construction, packaging, automotive, and others that could be explored in Plastic Processing Machinery in the foremost period. The packaging sector accounted for largest market share and is estimated to lead the overall market in the coming years. This may be because of high demand for packaged food like ready-to-eat meals, breakfast cereals, and baked foods.

Globally, Asia Pacific accounted for the largest market share of Plastic Processing Machinery and is estimated to lead the overall market in the coming years. The reason behind the growth of overall market could be availability of land along with skilled labor at low cost and expansion of industries like electronics, construction, and automotive. The developing countries like India and China are the major consumer of Plastic Processing Machinery in the region.

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Instead, North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. The aspects that may be ascribed to the growth comprise enhancements in plastic processing methods and growing awareness among populace regarding their ecological and health effects. The United States is a major consumer of Plastic Processing Machinery in the region.

The key players of Plastic Processing Machinery Market are Milacron, ARBURG, JSW, Husky Injection Molding Systems, Sumitomo Heavy Industries, Alpha Marathon Film Extrusion Technologies, Toshiba Machine, Aoki Technical Laboratory, Aoki Technical Laboratory, and Krauss Maffei Technologies. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

Market Segment:

Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
• IMM
• Consumer Goods
• Automotive
• White Goods
• Packaging
• Others
• Extrusion Machine
• Packaging
• Building & Construction
• Consumer Goods
• Automotive
• Others
• BMM
• Packaging
• Automotive
• Medical
• Others
• Others
• Packaging
• Automotive
• Building & Construction
• Others

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Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025) 
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• UK
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa
• Saudi Arabia

The Indian farming sector is reliant to a great extent on agricultural equipment, since it helps in increasing productivity, at reduced costs, with lower human and animal effort. Some of the common agricultural machinery used in India includes cultivators, tractors, and planters mowing tools. The central government of India has proposed several initiatives focusing on 'on-farm mechanizations', which are aiding the penetration of advanced machinery in the agricultural sector of the country.

Market insights:

The Indian agricultural machinery market was valued at INR 575 Bn in 2017, and is expected to expand at a compound annual growth rate (CAGR) of ~6.40% from 2018 to 2023. Frequent innovations in the designs and functions of agricultural equipment are the major driving force of the industry. After the implementation of the goods and services tax (GST), agricultural equipment like tractors and drip irrigators were put under the 12% tax slab, and agricultural implements, which includes plow, threshers, axes, and powrahs, were put under the 28% tax slab. The imposition of these taxes has put extra pressure on Indian farmers, thus affecting their productivity. TAFE Motors and Tractors Limited, John Deere India Private Limited, Mahindra and Mahindra Limited, CNH Industrial (India) Private Limited, and Escorts Limited are some of the major players operating in the market.

Product-wise segment insights:

The tractor segment had the largest share (~81%) of the market in FY 2017. A continuous effort by the government to hasten the adoption of mechanization, by making tractors affordable, has resulted in a significant rise in the demand for these equipment. Apart from tractors, ~19% of the market share had been acquired jointly by rotavators, threshers and power tillers, in FY 2017.
Player-wise segment insights:

Among the major manufacturers of agricultural equipment in India, Mahindra & Mahindra had the largest market share (~41%) in FY 2018, followed by Tractor and Farm Equipment Limited (~20%). Mahindra & Mahindra has been able to acquire the largest share in the Indian agricultural machinery market owing to its affordable pricing and easy availability of spare parts in different parts of the country.

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Key growth drivers of the market:

• The Indian government's commitment towards rural development through agro-mechanization is likely to boost the agricultural machinery market in India. Also, government subsidies and low import duties on agricultural equipment have made such heavy machinery affordable for farmers, thus increasing sales volumes.
• Large scale migration from rural to urban areas has led to a shortage of labour in the farming industry. Therefore, to fulfil the rising demand for agricultural products by the growing Indian population, farmers are forced to use automatic machinery that ensure high productivity, in less time, with limited human effort.

Key deterrents to the growth of the market:

• In India, the average farm size is less than two hectares. It is difficult for farmers to use heavy equipment on such small farms. As a result, the demand for agricultural machinery is limited to farmers who have larger pieces of land.
• Despite large-scale mechanization, most of the agricultural operations in India are still carried out through traditional tools like sickle, wooden plough, etc., owing to small per-farmer land-holdings. Also, aftersales service of firm equipment is poor in the country, mainly due to the unavailability of adequate service centers. These factors together, deter the growth of the agricultural machinery market in India.

Companies covered:

1. Escorts Limited
2. Force Motors Limited
3. Greaves Cotton Limited
4. Mahindra & Mahindra Limited
5. Shivagrico Implements Limited
6. VST Tillers Tractors Limited
7. CNH Industrial (India) Private Limited
8. International Tractors Limited
9. John Deere India Private Limited
10. TAFE Motors and Tractors Limited

The report “Agricultural Machinery Market” is available now at https://www.radiantinsights.com/research/agricultural-machinery-market-in-india-2018-2023 

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