Market Size of Print Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Print Equipment Market Analysis
The print equipment market was valued at USD 22.4 Billion in 2020, at a CAGR of 2.2% during the forecast period (2021 - 2026). The process that has seen the biggest number of improvements in recent years is sheetfed offset litho. Innovations by the leading Western and Japanese manufacturers have transformed the technology, to a great extent. Sheetfed offset litho printers are increasingly carrying out simultaneous printing of groups of jobs by setting them up side-by-side across a large-format press. This printing process trend is expected to drive the market in future period.
- Introduction of 3D printing is driving the market.The demand for reduced weight in product packaging and use of thinner and smaller labelling is increasing by the day. This is likely to assist well for print equipment market. Furthermore, emphasis laid on recycling ability of the printing labels is expected to contribute positively to the print equipment market. Governments across the world have already started investing in R&D on 3D printing, which has had a positive impact on technology propagation and adoption. For instance, the Dutch government invested an additional USD 150 million in 3D printing-related research and innovation.
- The increasing investment in the packaging printing machinery is driving the market. In today's era, an attractive and effective packaging holds the key not only to successfully market a product but to positively change its perception in people's minds as well. According to Packaging of the World, yearly approx 30% businesses report that their revenues increase when they improve their product packaging and this percent will show a exponential rise in coming future.
- However, the high cost incurred on the implementation of printing structure may restrict growth in the market. Besides high cost structure and sensitive pricing environment, the shifting preference from traditional media to digital media in printing technique might as well hinder the global market in the coming years.
