Market Trends of India Inkjet Printer Industry
This section covers the major market trends shaping the India Inkjet Printer Market according to our research experts:
Large Format Inkject Printers to Hold Major Share
- The significant factors fueling the growth of inkjet printers include increasing demand for large format printing in the packaging industries, textiles, advertising; and 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.
- The increased emphasis on maintaining 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 October 2022, Canon India is printing its printing lines at PrintPack India 2022. The company said they would foresee an increase in digital printing due to the inherent advantages of print and flexibility on demand, an increase in investment from tier 2, 3, and 4 cities, and more investment in more reliable and sustainable print equipment than just the low-value investments.
- According to the IBEF, the market value of the Indian textile industry recently was worth USD 223 billion. 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 step suits inkjet production with its decreased setup times and generates direct online sales of printed clothing and household decor.
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The Commercial Segment is Expected to Witness Significant Growth
- The significant advantage of using inkjets is their ability to produce short runs and unique products effectively. Online ordering and specification growth using web-to-print technology drives commercial printing. Inkjets' capacity to produce 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 in high demand because of their growing use in graphics printing, clothing and textiles printing, computer-aided design (CAD), and technical printing applications. The growth in the market for large format printers is likely to be observed in signage, and advertising applications in India, mainly due to the booming economy. According to FICCI, the value of the print industry across India has been over USD 2.75 billion in recent times. You can expect these statistics to exceed INR 250 billion (USD 3.1 billion) by 2024, indicating a CAGR of around 3%.
- Also, several vendors providing inkjet printers in large numbers offer all-in-one printers, as many businesses widely use them. As the new small companies ramp 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.
- Inkjet printers, on a global basis, including India, enjoyed positive year-over-year growth in unit shipments. In India, the development is driven primarily by the online channel segment in preparation for the sales events in the run-up to the Diwali Festival. Ink tank printers will continue gaining traction and compensate for the decline in shipments of laser printers. The government of India's continuous efforts to crack down on the reconditioned copier market will also translate into strong demand for original lasers.
