Report : Hot Runner Temperature Controller Market Forecast to 2028 - COVID-19 Impact and Global 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)
Adoption of New-Generation Multizone Hot Runner Controller Technology to Provide Growth Opportunities for Hot Runner Temperature Controller Market during 2021–2028
According to our latest market study on “Hot Runner Temperature Controller Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, Control Zone, and Geography,” the market is expected to grow from US$ 124.31 million in 2021 to US$ 203.17 million by 2028; it is expected to grow at a CAGR of 7.3% from 2021 to 2028.
The new Linux-based touchscreen multizone controllers are intended for use in applications with a large number of zones in various industries, including automotive, medical, pharmaceuticals, packaging, caps and closure, and technical parts manufacturing. For instance, SISE Plastics Regulate Systems Inc., Atlanta, demonstrated its new generation of multizone controller technology named MV3 at Amerimold; the product is offered in five sizes—XS, S, M, L, and XL—and three power variants—2.5A, 15A, and 30A. These new generation of hot runner temperature controllers are capable of controlling up to 336 zones. They come with three conventional touchscreen sizes: 7", 10", and 12". Moreover, these new models have access to power and thermocouple cards by pivoting and detachable lateral shelves. These new-generation products would exhibit handy, sophisticated functions such as four soft starts, zone grouping, and PTI function for thermocouple abnormalities, Moldscan for real-time hot runner diagnostics, and material leak detection, which are enabled by the accessible power and thermocouple cards on removable pivoting shelves. The system is bilingual (supports up to 11 languages) and has an unlimited memory capacity for mold files. Finally, the MV3 can interface with IMMs, and save and monitor production temperatures, making it ideal for Industry 4.0 applications.
Based on type, the hot runner temperature controller market is bifurcated into valve gate hot runner and open gate hot runner. In 2020, the valve gate hot runner segment led the market, accounting for a larger market share. By application, the hot runner temperature controller market is segmented into automotive industry, electronic industry, medical industry, packaging industry, and others. In 2020, the packaging industry segment accounted for the largest market share. Similarly, 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, the 12–48 zones segment accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the significant share in the global market.
Impact of COVID-19 Pandemic on North America Hot Runner Temperature Controller Market
The COVID-19 pandemic hit almost all industries across the world in FY 2020 due to lockdown measures imposed by various countries, which disrupted supply chain of different industries as well as generated a demand & supply gap in different industries. The packaging industry in North America has faced many challenges due to suspended or disturbed operations in the food & beverages, automotive, and medical industries. Assembly plants and supplier facilities in different countries in North America were closed in March and May 2020. Moreover, restrictions enacted on transportation and logistics operations created further challenges for industrial operations. Slowdown in industrial manufacturing and delays in scheduled periodic equipment maintenance activities across different facilities further caused a stir in the industrial sector, further lowering the demand for hot runner temperature controller systems.
Further, consumer habits have changed during the COVID-19 pandemic owing to a surge in preference for home delivery of food and other products that has led to a great requirement of packaging materials such as plastics. Therefore, the requirement of the large amount of plastic production is increasing across the region. Also, decline in investments across industrial facilities, amid the industrial crisis, has hindered the growth of the industrial automation technologies.
EMI Corporation; EWIKON HEIßKANALSYSTEME GMBH; Gammaflux; GÜNTHER Heisskanaltechnik GmbH; Husky Injection Molding Systems Ltd.; Meusburger Georg GmbH & Co KG; Mold Hotrunner Solutions Inc.; FISA Corporation; INGLASS S.P.A.; and HILLENBRAND, INC. (MOLD-MASTERS) are among the major companies operating in the hot runner temperature controller market.