PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515403
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515403
Printing Machinery and Equipment Market size was valued at USD 75,456.87 Million in 2023, expanding at a CAGR of 11.5% from 2024 to 2032.
Printing machinery and equipment include printing and bookbinding machinery and equipment used to print ink on a printing media, which can be cloth, paper, or plastic. Printing gear and equipment are required for many printing applications in industries such as publishing, packaging, advertising, and commercial printing. These machines are designed to generate high-quality prints efficiently and cost-effectively.
Printing Machinery and Equipment Market- Market Dynamics
E-Commerce Expansion Drives Printing Machinery Market Growth for Better Branding and Customization
E-commerce is the purchasing and selling of goods and services via the Internet. The growing need for customized packaging, branded materials, and on-demand printing in e-commerce enterprises drives the need for high-quality, fast-turnaround digital printing gear to improve brand visibility and consumer experiences. For instance, according to a report published in February 2023 by the United States Census Bureau, a division of the Department of Commerce based in the United States, retail e-commerce sales in the United States reached $299.1 billion in the fourth quarter of 2022, a 4.1% increase over the previous quarter. The fourth quarter of 2022 also saw a 6.2% growth in e-commerce sales over the same period in 2021. Notably, e-commerce sales made up 16.0% of total sales in the fourth quarter of 2022. As a result, the surge in e-commerce is fueling the expansion of the printing machines and equipment industry.
Printing Machinery and Equipment Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.5% over the forecast period (2024-2032)
Based on Type segmentation, Printers dominated the global market in 2023.
Based on Technology segmentation, In 2023, the Digital Category led the Print Machine Market.
Based on region, North America was the leading revenue generator in 2023
The Global Printing Machinery and Equipment Market is segmented based on Type, Technology, End User, and Region.
The market is divided into two categories based on Type: Printers and Plotters. The printer segment dominated the global market in 2023. This is due to its advantageous features, which include durability, recycling, and packaging simplicity.
The market is divided into four categories based on Technology: Digital, Laser, Flexographic, and Rotogravure. The digital category led the Print Machine Market in 2023. The digital method is utilized in all types of printing, from high, medium, and low resolution, for a wide range of applications. For many small and medium-sized printing enterprises, the 50 x 70 cm format is perfect for their product line, particularly for commercial and package printing.
Printing Machinery and Equipment Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. In 2023, the North American Printing Machinery Market dominated the market. Demand for printing machines in the United States is expected to rise substantially as packaging printing opportunities expand and the general public becomes more aware of cutting-edge printing technologies. As more people turn to digital media and prices grow, the regional sector is expected to face challenges. However, the market is expected to be primarily driven by printer consolidation, 3D printing's growing popularity, and high productivity.
The Asia Pacific Printing Machinery market is predicted to increase significantly from 2024 to 2032. This is due to rising end-user demand and increased development potential in packaging printing. For example, Bobst will showcase its most recent solutions and services at Labelexpo Asia 2019 in China. The company will demonstrate its latest Master DM5 hybrid press, a digitally automated machine for the label market. Furthermore, China's Printing Machinery market had the highest market share, while India's Printing Machinery market was the fastest expanding in the Asia-Pacific region.
Major competitors in the Printing Machinery market, such as Tokyo Kikai Seisakusho LTD., Komori Corporation., Presstek LLC, Heidelberger, and Druckmaschinen AG, are investing in R&D to drive demand. Market participants are also engaging in several strategic initiatives to grow their worldwide presence, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. To expand and survive in a more competitive and expanding market environment, the Printing Machinery Industry must provide cost-effective products.
In February 2021, Canon, the Japanese company, announced the launch of seven new ink tank printers in India, with a starting price of INR 11,048, to expand its PIXMA G Series line-up.
GLOBAL PRINTING MACHINERY AND EQUIPMENT MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Tokyo Kikai Seisakusho LTD.
KOMORI Corporation.
Presstek LLC
Heidelberger Druckmaschinen AG
HP Development Company L.P.
3D Systems, Inc.
Canon Inc.
Xerox Corporation
Koenig & Bauer AG
Proto Labs, Inc
Manroland Goss
Others