India Inkjet Printer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Indian Inkjet Printer Market is Segmented By End-user Industry (Books, Commercial Print, Advertising Print, Transactional Print, Labels, Packaging, Security).

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 4.2 %

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Market Overview

The Indian inkjet printer market is expected to register a CAGR of 4.2% during the forecast period (2021 - 2026). COVID-19 has spurred the demand of inkjet printers in India. The demand is arising from consumers working from home and e-learning segments. Home consumers are preferring high-capacity ink-tank inkjet printers, due to high yields and low cost.

  • Contemporary inkjet printers use two leading technologies, namely continuous (CIJ) and drop-on-demand (DOD). In the CIJ technology, a high-pressure pump is used to direct liquid ink from an ink reservoir by using a gun body and a microscopic nozzle, creating a continuous stream of ink droplets. The CIJ method is applicable for marking and coding of products. Continuous inkjet printers are preferred over manual systems by users for printing on packages and bottles. Likewise, several other end users are switching to digital coding solutions from traditional analog technologies.
  • Continuous inkjet printers offer several benefits, such as very high-speed printing, the ability to print characters on virtually any material, and the ability to run for long hours with minimum servicing requirements and cost-effectiveness. Owing to such benefits, the application of continuous inkjet printers is growing in the food and beverage and aerospace sectors, thus driving the growth of the Indian inkjet printer market.
  • Since the growth opportunities in the developed regions have stagnated, the market players have shifted their focus on emerging countries, like India, China, Japan, and Indonesia. For instance, according to the President and CEO of Epson India, in 2019, Epson India, part of the Japanese major Seiko Epson, plans to capture a 12% share of the laser printer market in India, from the current 8% through its InkTank printers. Although the demand declined till the mid of 2019, mainly due to the lowered demand from both consumer and commercial segments, the market recovered soon due to increased demand for multifunctional inkjet printers.
  • Despite a slowdown in demand, inkjet printer shipments grew led primarily by Epson. The growth was driven by Ink tank printers, which recorded the highest growth in the last five quarters due to high demand from the commercial segment along with government bodies. However, advertisement and promotional materials took a big hit since the postponement and cancellation of significant exhibitions and events. They are expected to return when the industry revives. Packaging printing, including the label market, is showing steady demand because of the multiple options in packaging.

Scope of the Report

Inkjet printers have contributed to the development of digital printing, which entails spraying tiny droplets of liquid ink onto designate substrates, like paper. This process enables photo-quality equivalent images. Inkjet printers offer an economical alternative to other print processes offering full variability and low set-up costs, enabling economic printing of runs down to single copies.

For the purpose of the study, the various factors considered for the scope of study are consumer spending, consumer preference trends, supply dynamics, impact of COVID-19, and other macro-economic factors to arrive at the overall market projections.

End-user
Books
Commercial Print
Advertising Print
Transactional Print
Labels
Packaging
Security
Other Print Formats (Photobooks, Magazines, Newspapers, and Catalogs)

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Key Market Trends

Large Format Inject Printers to Hold Major Share

  • Key factors fueling the growth of the inkjet printer market include increasing demand for large format printing in the textiles, advertising, and packaging industries; rising adoption of UV curable inks in outdoor advertising, CAD, and technical printing applications; and the increasing importance of digital document production in commercial printing applications.
  • The rising demand for large format printers for home furnishing and decor and vehicle wrap applications, the increasing requirement for large format printing from the in-plant market, as well as the availability of varieties of large format printers with a varied price range, are creating tremendous growth opportunities for the players in India.
  • Demand from the textile industry is anticipated to increase at the next fastest rate. Quick turnaround is a growing priority of textiles as the fashion segment comprises multiple mini-seasons and print-on-demand delivery. This particularly suits inkjet production with its decreased setup times, and are also generating direct online sales of printed clothing and household decor.
  • The increased emphasis on maintaining the color consistency across batches has led to an increase in dye sublimation and other direct-to-fabric processes resulting in the shift from traditional analog screen printing to inkjet printing format production. In August 2019, HP launched a new range of dye sublimation textile printers in India for the first time at Gartex 2019 in New Delhi. From the inkjet printers in the new Stitch S series, the S500 was displayed. The new Stitch S series has an inbuilt spectrophotometer and Cloud-based profiling for color standardization. These developments are responsible for the growth of large-format inkjet printers in India.
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The Commercial Segment is Expected to Witness Significant Growth

  • The major advantage of using inkjets is due to its capability to produce short runs and unique products effectively. Commercial printing is being driven by the growth of online ordering and specification by using web-to-print technology. The ability of inkjets in the production of short runs and one-off products has reinforced its role as a critical enabler in such an ecosystem.​
  • India is one of the largest producers of apparel and textile. Inkjet printers are likely to be high in demand because of their growing use in graphics printing, apparel and textiles printing, and computer-aided design (CAD) and technical printing applications. Significant growth in the market for large format printers is likely to be observed in advertising and signage applications in India, mainly due to the booming economy.
  • Also, many of the vendors providing printers are extensively providing all-in-one printers as they are widely used by many businesses. As the new small businesses are ramping up in the region, these vendors are introducing new technologically integrated all-in-one printers as a part of their product portfolio. The major players in this segment are HP Inc., Canon, Epson, etc. contributing to the growth of inkjet printers.
  • Ink Tank printers, on a global basis, including India, enjoyed positive year-over-year growth in unit shipments. Epson led the pack with more than 2 million units shipped in 2Q19. In India, the growth is driven primarily by the online channel segment in preparation for the sales events in the run-up to the Diwali Festival.
India inkjet graph 2.png

Competitive Landscape

The competitive landscape of the Indian Inkjet Printer Market is competitive, owing to the presence of a few market players holding significant market share. Whether it is product launches, mergers, takeovers, or new marketing strategies, the market has vibrant competitiveness. Canon, Brothers Industries Ltd, are among the major players in the Indian Inkjet Printer market share. The companies are involved in many growth and expansion strategies to get a competitive advantage. Business participants also follow the value chain alliance with business transactions in various steps of the value chain.

  • August 2020 - Epson India Pvt Ltd., launched three new integrated EcoTank printers at a starting price of INR 44,999 in the India market. According to the company, the new products — L14150, L15150 and L15160 — are compact, wide-format and are multifunction printers. The new printers are powered by Epson’s ‘PrecisionCore’ technology that aims to help deliver faster prints and use ‘Heat Free Technology’ to consume less power.

Recent Developments

  • September 2020 - Miyakoshi introduced the MJP series of digital inkjet presses in India. It introduced the MJP series under its own brand name in the year 2004, which is now being introduced in the Indian market through its exclusive representative.
  • July 2020 - Canon India rolled out its new campaign “India Ka Printer” to promote its multifunction inkjet printers across India. The campaign aims to make Wi-Fi enabled Canon PIXMA G series Printer the ideal choice for every printing need from business proposals, projects, homework, Photographs or recipes.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitutes

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Market Drivers

      1. 4.4.1 Shift in Consumer Demands and Increasing Adoption of Ink Tank Printers

      2. 4.4.2 Increasing Flexibility in terms of Speed and Cost Control

    5. 4.5 Market Restraints

      1. 4.5.1 Technological Limitations and Competition from Laser Printing

    6. 4.6 Assessment of Impact of COVID-19 on the Industry

  5. 5. INJKET PRINTING EQUIPMENT MARKET LANDSCAPE

    1. 5.1 India Inkjet Printer Demand

    2. 5.2 Market Scenario of Inkjet Sheetfed Press Platforms (Increasing Usage in Commercial Print Applications)

    3. 5.3 Vendor Share Analysis -Major Vendors of Inkjet Printers in India

  6. 6. MARKET SEGMENTATION

    1. 6.1 End-user

      1. 6.1.1 Books

      2. 6.1.2 Commercial Print

      3. 6.1.3 Advertising Print

      4. 6.1.4 Transactional Print

      5. 6.1.5 Labels

      6. 6.1.6 Packaging

      7. 6.1.7 Security

      8. 6.1.8 Other Print Formats (Photobooks, Magazines, Newspapers, and Catalogs)

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles*

      1. 7.1.1 Markem-Imaje India Pvt Ltd.

      2. 7.1.2 Epson India Pvt Ltd.

      3. 7.1.3 Linx Printing Technologies

      4. 7.1.4 Jet Inks Pvt Ltd.

      5. 7.1.5 Colorjet Group

      6. 7.1.6 Control Print Ltd.

      7. 7.1.7 Videojet Technologies Inc.

      8. 7.1.8 Advanced Industrial Micro Systems

      9. 7.1.9 KGK Jet India Pvt Ltd.

      10. 7.1.10 Brother International (India) Pvt Ltd.

      11. 7.1.11 Canon India Pvt Ltd.

      12. 7.1.12 Spravaj Techno Services

      13. 7.1.13 Konica Minolta Business Solutions India Private Limited

  8. 8. INVESTMENT ANALYSIS​​

  9. 9. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The India Inkjet Printer Market market is studied from 2018 - 2026.

The India Inkjet Printer Market is growing at a CAGR of 4.2% over the next 5 years.

Canon India Pvt. Ltd., Epson India Pvt. Ltd., Brother International (India) Pvt. Ltd., Colorjet Group, JET INKS PVT LTD. are the major companies operating in India Inkjet Printer Market .

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