Global Print Equipment Market Size, Share, Growth Analysis, By Type(Offset, Digital), By End-Use(Packaging, Publication) - Industry Forecast 2022-2028

Global Print Equipment Market size was valued at USD 49.33 billion in 2021 and is poised to grow from USD 58.15 billion in 2022 to USD 149.4 billion by 2030, growing at a CAGR of 20.5% in the forecast period (2023-2030).

The development of printing presses made it possible to produce books, newspapers, magazines, and other reading materials in large quantities. Printing is essential for promoting literature. For instance, the print circulation was 521 million worldwide, according to the World Association of Newspapers and News Publishers (WAN-IFRA) 2020 statistics report. The projections show that 82% of publishers' overall revenue comes from print, and that revenue will be crucial for publishers' continued shift to a more digitally focused business.

The packaging industry is growing, and with it, so is the demand for enhanced graphics in this industry, which is driving growth in the worldwide printing machine market. The development of e-commerce has also become a crucial component in the expansion of the packaging sector, which has raised demand for printing equipment. For instance, according to estimations from the Indian Brand Equity Foundation, the e-commerce market in the nation generated $15 billion in sales in 2016 and is expected to reach $64 billion in 2020, with a CAGR of 44.8 percent.

The rapid advancement of technology is the driving reason behind this expansion of the market for print equipment. Instant and on-the-go printing is one of the most recent innovations shaping the outlook for the global market for printing machines and equipment. Wireless connectivity in portable printers offers hassle-free printing for users by utilising the relevant smartphone app. The cutting-edge technology will also encourage the next generation of young users to exercise their imaginations and get used to using printers with this technology. Ink businesses have been forced to scurry to find inks and coatings at much higher prices over the past few years due to the supply of crucial raw ingredients for inks and their components becoming particularly scarce. According to projections, the coronavirus outbreak caused a 24 percent decline in printing equipment sales in 2020, totaling USD 13.2 billion globally.

Top-down and bottom-up approaches were used to estimate and validate the size of global Print Equipment Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Segments covered in this report

Global print equipment market is segmented based on type, end-use and region. Based on the type, the global print equipment market is segmented into offset, digital, flexo and others. Based on the end-use, the Print Equipment Market is segmented packaging, publication, commercial & others. Based on region, Print Equipment Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

technological developments in the printing industry

The rapid advancement of technology is the main factor driving the growth of the print equipment market. In addition, immediate and on-the-go printing is becoming increasingly popular all around the world. Wireless connectivity in portable printers offers hassle-free printing for users by utilising the relevant smartphone app. The cutting-edge technology will also encourage the next generation of young users to exercise their imaginations and get used to using printers with this technology.

An increase in the demand for print advertising

Despite the declines in print advertising and ongoing issues with digital advertising, as well as the fact that audience revenue has consistently outpaced ad revenue in the reports for the past five years, advertising was cited as the single most important source of income (27%) in World Press Trends by the World Association of Publishers. The next two revenue streams were subscriptions (21%) and single copy sales (10%), then a variety of different revenue streams.

Restraint

Increased Digitization

Despite the broad use of a variety of reading materials, the expanding digitization is expected to have an influence on the print equipment market. Digital reader revenue and digital readership both continued to grow dramatically last year, up roughly 27 percent and 36 percent, respectively, as per WAN-IFRA report by the World Association of Publishers, consumers strive for excellent journalism in a turbulent "environment," filled with disinformation and mistrust. Additionally, publishers look to digital subscriptions and audience-first strategies as the cornerstones of a sustainable future. This makes publishing obstacles more challenging. The expected growth of digital data and reading materials, such as e-books and online news subscriptions, will impede the market expansion for print equipment. Although there are still a number of challenges with digital advertising, sales rose 8.8% last year.

Market Trends

Key competitors in the global print equipment market have made it their objective to push the market for environmentally friendly products. As an illustration, Bobst recently introduced a new "high barrier flexible packaging solution" intended for recycling. For a demo machine in Manchester, the company has successfully finished a pilot of the Digital Product Passports (DPP) programme. Additionally, as consumers grow more conscious of the effects of their decisions on the environment, ink manufacturers are creating eco-friendly inks and moving to eco-friendly printing equipment. Soy-based ink produces realistic colours, is more environmentally friendly, and makes recycling paper easier than petroleum-based ink. As businesses prioritise sustainability, this category of green inks is growing in popularity.

As a marketing communication tool, variable data printing (VDP) has made it feasible to target packaging information to a specific audience or even a single person. Recently, the demand for printing has evolved from traditional printing to printing with variable data and customised printing. Digital printing is less expensive than traditional printing techniques.

As businesses work to develop cutting-edge technologies, the introduction of more sophisticated items by major players in the printing equipment market with higher capabilities has remained a trend. For instance, Memjet introduced DuraFlex, a brand-new invention, in 2020. Offering products with industry-leading speed and quality at competitive prices, DuraFlex. OEMs are able to produce printing equipment more rapidly and affordably because to DuraFlex's modular architecture.