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Home > News > Injection

“Two New” policy and overseas expansion drive Chinese injection molding machinery sector forward

Source：Adsale Plastics Network Date ：2025-04-16 Editor ：Liu Xingyi
Copyright： This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

Despite intense competition in the market, the injection molding machinery sector is projected to see new growth in 2025, fueled by policy incentives and expansion into international markets, which will present increased profit opportunities.

 

Sales of automobile and home appliance rise


In March 2024, China's State Council rolled out the “Action Plan to Promote Large-scale Equipment Renewals and Trade-ins of Consumer Goods” (“Two New” policy). This initiative aims for a 25% increase in equipment investments by 2027 across multiple industries, including manufacturing, agriculture, construction, transportation, education, cultural tourism, and healthcare, compared to 2023 levels.


Thanks to the “Two New” policy, sales of automobiles and home appliances have seen a notable increase. In December 2024, the Central Economic Work Conference reiterated its commitment to this policy, which will facilitate the replacement of aging vehicles and encourage the consumption of new energy vehicles, further driving car sales. Likewise, the home appliance industry will benefit from optimized policies, attracting more companies to engage in national subsidy programs.

 

Demand for injection molding machines increases


As sales of automobiles and home appliances continue to rise, many companies are expanding their factories to shorten delivery times and capture larger market shares. Consequently, the demand for injection molding machines, a crucial piece of equipment in component manufacturing, has increased significantly.


In the automotive industry, Qiao Luming Technology has invested RMB 1 billion in Xi'an to establish molding, painting, injection molding, and assembly lines, primarily supporting companies like Geely and BYD. Guizhou Huagong Tool Injection Plastic has allocated RMB 300 million to upgrade its injection molding lines, focusing on automotive components such as dashboards and bumpers. Moreover, Beijing Beiqi Mould & Plastic Technology’s new project in Zhuzhou aims to produce 300,000 bumpers annually and includes plans for a high-precision, intelligent injection molding line.


BYD_U7_480.jpg

Tederic two-platen injection molding machine facilitates the production of rear spoiler for BYD's Yangwang U7 luxury sedan.


In the home appliance industry, TCL has begun construction on an air conditioner plant in Nansha, investing RMB 1.5 billion with an annual production capacity of 8 million units. Meanwhile, Haier is investing RMB 2.5 billion in Qingdao to develop a new facility that will have a yearly output of 5 million air conditioners.

 

Chinese manufacturers expand overseas markets


While domestic market demand for injection molding machines remains strong, intense competition, customer cost-cutting pressures, and issues like delayed payments may impact profitability in local sales. In contrast, overseas markets present higher profit margins.


Consequently, many Chinese injection molding machine manufacturers are strengthening their presence in Southeast Asia, Mexico, and Europe, targeting the high-end market to seize more opportunities and boost profits.


For instance, Haitian International has opened application centers in Vietnam and Indonesia; Chen Hsong has established a service center in Hanoi, Vietnam, featuring machines and parts warehouses, a mold trial center, and a training facility; Powerjet has launched a showroom in Vietnam and expanded its machine inventory; Yizumi has opened subsidiaries in Thailand and Mexico, while Borch has set up an office in Thailand.


Currently, the main drivers for companies to expand overseas are lower labor costs and tax incentives. Average wages in Vietnam, Thailand, and Mexico are lower than those in China, which helps to further reduce production costs for businesses operating in these countries. To attract foreign investment, Vietnam offers a two-year tax exemption for foreign companies establishing new production facilities, followed by a 50% tax reduction for the subsequent two years. Likewise, Thailand provides tax incentives for certain industries.


In 2025, several automotive and home appliance manufacturers are anticipated to launch overseas production facilities, which will further boost demand for injection molding machines. BYD's factories in Brazil and Hungary are scheduled to begin production this year, with additional facilities planned in Indonesia and Turkey. Chery's factories in Vietnam and Thailand are also expected to be completed and start operations.


Meanwhile, Midea's production base in Thailand is projected to achieve an output of 4 million units, becoming one of the largest air conditioner manufacturing hubs in Southeast Asia.


To address competition from European and other multinational injection molding machine manufacturers, Chinese brands must concentrate on solidifying their presence in existing markets while also penetrating the high-end market. By enhancing product positioning and increasing technological value, they can create a stronger competitive advantage.

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Source：Adsale Plastics Network Date ：2025-04-16 Editor ：Liu Xingyi
Copyright： This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

Despite intense competition in the market, the injection molding machinery sector is projected to see new growth in 2025, fueled by policy incentives and expansion into international markets, which will present increased profit opportunities.

 

Sales of automobile and home appliance rise


In March 2024, China's State Council rolled out the “Action Plan to Promote Large-scale Equipment Renewals and Trade-ins of Consumer Goods” (“Two New” policy). This initiative aims for a 25% increase in equipment investments by 2027 across multiple industries, including manufacturing, agriculture, construction, transportation, education, cultural tourism, and healthcare, compared to 2023 levels.


Thanks to the “Two New” policy, sales of automobiles and home appliances have seen a notable increase. In December 2024, the Central Economic Work Conference reiterated its commitment to this policy, which will facilitate the replacement of aging vehicles and encourage the consumption of new energy vehicles, further driving car sales. Likewise, the home appliance industry will benefit from optimized policies, attracting more companies to engage in national subsidy programs.

 

Demand for injection molding machines increases


As sales of automobiles and home appliances continue to rise, many companies are expanding their factories to shorten delivery times and capture larger market shares. Consequently, the demand for injection molding machines, a crucial piece of equipment in component manufacturing, has increased significantly.


In the automotive industry, Qiao Luming Technology has invested RMB 1 billion in Xi'an to establish molding, painting, injection molding, and assembly lines, primarily supporting companies like Geely and BYD. Guizhou Huagong Tool Injection Plastic has allocated RMB 300 million to upgrade its injection molding lines, focusing on automotive components such as dashboards and bumpers. Moreover, Beijing Beiqi Mould & Plastic Technology’s new project in Zhuzhou aims to produce 300,000 bumpers annually and includes plans for a high-precision, intelligent injection molding line.


BYD_U7_480.jpg

Tederic two-platen injection molding machine facilitates the production of rear spoiler for BYD's Yangwang U7 luxury sedan.


In the home appliance industry, TCL has begun construction on an air conditioner plant in Nansha, investing RMB 1.5 billion with an annual production capacity of 8 million units. Meanwhile, Haier is investing RMB 2.5 billion in Qingdao to develop a new facility that will have a yearly output of 5 million air conditioners.

 

Chinese manufacturers expand overseas markets


While domestic market demand for injection molding machines remains strong, intense competition, customer cost-cutting pressures, and issues like delayed payments may impact profitability in local sales. In contrast, overseas markets present higher profit margins.


Consequently, many Chinese injection molding machine manufacturers are strengthening their presence in Southeast Asia, Mexico, and Europe, targeting the high-end market to seize more opportunities and boost profits.


For instance, Haitian International has opened application centers in Vietnam and Indonesia; Chen Hsong has established a service center in Hanoi, Vietnam, featuring machines and parts warehouses, a mold trial center, and a training facility; Powerjet has launched a showroom in Vietnam and expanded its machine inventory; Yizumi has opened subsidiaries in Thailand and Mexico, while Borch has set up an office in Thailand.


Currently, the main drivers for companies to expand overseas are lower labor costs and tax incentives. Average wages in Vietnam, Thailand, and Mexico are lower than those in China, which helps to further reduce production costs for businesses operating in these countries. To attract foreign investment, Vietnam offers a two-year tax exemption for foreign companies establishing new production facilities, followed by a 50% tax reduction for the subsequent two years. Likewise, Thailand provides tax incentives for certain industries.


In 2025, several automotive and home appliance manufacturers are anticipated to launch overseas production facilities, which will further boost demand for injection molding machines. BYD's factories in Brazil and Hungary are scheduled to begin production this year, with additional facilities planned in Indonesia and Turkey. Chery's factories in Vietnam and Thailand are also expected to be completed and start operations.


Meanwhile, Midea's production base in Thailand is projected to achieve an output of 4 million units, becoming one of the largest air conditioner manufacturing hubs in Southeast Asia.


To address competition from European and other multinational injection molding machine manufacturers, Chinese brands must concentrate on solidifying their presence in existing markets while also penetrating the high-end market. By enhancing product positioning and increasing technological value, they can create a stronger competitive advantage.

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“Two New” policy and overseas expansion drive Chinese injection molding machinery sector forward

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