According to the Modules documentation: https://angular.io/docs/ts/latest/guide/ngmodule.html
Angular registers these providers with the root injector of the module's execution context. That's the application's root injector for all modules loaded when the application starts.
Angular can inject one of these provider services into any component
in the application. If this module provides the HeroService, or any
module loaded at launch provides the HeroService, Angular can inject
the same HeroService intance into any app component.
A lazy loaded module has its own sub-root injector which typically is
a direct child of the application root injector.
Lazy loaded services are scoped to the lazy module's injector. If a
lazy loaded module also provides the HeroService, any component
created within that module's context (e.g., by router navigation) gets
the local instance of the service, not the instance in the root
application injector.
Components in external modules continue to receive the instance
created for the application root.
So, you have one injector that is shared between all the modules. However, lazy-loaded components will have a child injector