Large Format Printers Market Size

Large Format Printers Market Analysis

The Large Format Printers Market size is estimated at USD 10.04 billion in 2024, and is expected to reach USD 12.43 billion by 2029, growing at a CAGR of 4.36% during the forecast period (2024-2029).

Advertising, packaging, and textile are the key industries that contribute to revenue growth in the global market space. Various national and international brands and corporates utilize large format printers to assist them in their out-of-home advertising effort. Moreover, the large size of the media makes it visible from a distance. Advertising using large hoardings, banners, signages, and building wraps, among others, is used to attract the target audience and subsequently increase their sales and revenue.

• A large format printer is essentially used for printing large designs and materials that cannot be printed using the standard printer due to their large size. These printers are sometimes referred to as 'wide format printers.' Large format printers are used for various printing needs that require the print to be done on a substrate with larger dimensions. These printers are ideal solutions for printing textiles, signages, CAD and technical printing, advertisement posters, and others.
• The advancement in printing technologies and the availability of various inks in the market have increased the number of applications of large format printers, which, in turn, is resulting in the growth of the market. Further, the growing emphasis on large and technical graphics is estimated to propel the market growth over the forecast period.
• Large format printers are primarily used for printing signages, contributing to the market revenue in 2020. Signages are a key form of outdoor advertising efforts of businesses or corporates and are highly useful for marketing the products, services, and the company. Additionally, indoor signages are used for various marketing and non-marketing purposes, including POS advertising, signages with warnings and directions, and others. Technological advancements over time led to the development of printers that offer increased speed and productivity of printing. As such, the growing customer emphasis on quick printing services is sufficed by these fast-processing printers.
• The growing localized nature of the market resulted in an increased demand for short-run packaging. It enables the companies to provide niche packaging to specialty product manufacturers or local retailers, enabling the end users to go after new markets and increase their sales revenues. These printers find their applications in large format packaging across various industrial sectors, including food and beverage, electrical and electronics, leisure, and furniture. Continuous growth and increasing demand for products from these sectors are anticipated to bolster the demand for large format printers over the forecast period.
• Large format printers require high initial installation, operating costs, and maintenance investments. Large-format printing necessitates the use of a variety of printing materials. Furthermore, large format printers consume a lot of electricity, and the high running costs of large format printers are largely due to the printers' design complexity and high ink prices, which restrict the market growth.
• The COVID-19 pandemic has highly impacted the economic stability of various countries worldwide. Additionally, the subsequent lockdowns announced by governments worldwide to prevent the virus from spreading further took a huge toll on the industries. The complete closure of industries resulted in causing severe supply chain disruptions and halting manufacturing operations globally. The large format printer market is no exception and was significantly impacted by the pandemic outbreak. Various companies operating in the market reported a reduction in revenues. Moreover, companies experienced temporary factory closures in multiple geographies, including Southeast Asia and China. The logistics restrictions further created operational difficulties, especially during the initial phase of the pandemic.