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The global print equipment market size is projected to reach USD 20.04 billion by 2025. Introduction of nanotechnology in the printing equipment and process is the most recent trend in the market, finds Fortune Business Insights in a new study. The study is titled “Print Equipment Market Size, Share and Global Trend By Type (Offset, Digital, Flexo, Others), By End-Use (Packaging, Publication & Commercial and Others) and Geography Forecast till 2025.” As per the report, the market was USD 19.74 billion in 2017. The report further predicts the market to exhibit a CAGR of 0.21 % through the forecast period, 2018-2025.
Companies operating in this market are therefore focusing on innovations to achieve sustainable growth in the forthcoming years. For instance, recently the Landa Corporation developed nanotechnology to print on any kind of surface with a very small pigment water-based particles. The Landa Nanographic Printing Press, is a combination of offset and digital printing in terms of quality and speed respectively. Thus resulting in the increasing demand for printing RFID labels and tags, flexible batteries, luminescent displays using organic light emitting diodes, sensors, and solar energy cells. Adoption of the technology is anticipated to increase the demand for new printing equipment and print orders.
The packaging printing segment is exhibiting a steady growth over the last few years. The demand for packaging printing machinery has increased due to the increasing investment by industrial sector. This will subsequently boost the global market in the coming years.
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3D Printing, Heralding a New Era in Global Print Equipment Market
“Increasing focus on the usage of recyclable package material for packaging printing is expected to result in cost effectiveness and preventing pollution,” said a lead analyst at Fortune Business Insights. “This will be a key driver of the market in the coming years,” he added.
Reduced wastage, fewer production cycles, and better quality color production attributed to advance technology are some major factors anticipated to increase the demand for print equipment during the forecast period. Moreover, the advent of digital printing equipment such as electrography and inkjet has opened growth avenues for supplier and equipment manufacturers. Besides this, introduction of 3D printing has changed the game of printing. Industries such as automation, healthcare, and others are using 3D printing technology to achieve higher efficiency. Rapid adoption of the technology is likely to give impetus to the market.
On the contrary, high cost associated with technology such as 3D printing and digital machinery may restrain the global print equipment market to a certain extent during the forecast period.
India and China Gaining from Frequent Innovations
Nations such as India and China are expected to exhibit high demand for printing equipment due to the expansion of packaging printing services. Additionally, rising awareness about innovative printing technology is expected to shift people’s preference from conventional to new technology. Introduction of 3D printing and the benefits associated with it is anticipated to be the key factor driving the market in these nations.
However, the market may face hindrance due to the high adoption of digital media platforms in the region.
Fortune Business Insight’s report also provides an insightful overview of opportunities, strategies used by the leading organization in the market, and the potential areas of development.
Some of the leading players functioning in the global market are:
The global print equipment market can be segmented into the following categories:
By End use