PUBLISHER: The Business Research Company | PRODUCT CODE: 1392746
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392746
“Large Format Printers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on large format printers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for large format printers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The large format printers market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A large format printer is a printing device capable of producing images on expansive paper or other media, with a width of up to 87 inches (91 cm). These printers are designed to handle large print formats and employ specialized printing equipment for tasks such as printing posters, maps, large charts, store displays, banners, and more. Often referred to as wide format printers, they find application in various sectors, including apparel and textiles, decor, and advertising.
The components of the large format printer market, as outlined in this report, are categorized by technology and encompass ink-based technology and toner-based (laser) technology. Ink-based technology is employed for printing photo art, advertising or product posters, CAD drawings, GIS (geographic information systems), POP advertising, and perspective prints (three-dimensional representations of building exteriors and room interiors). These printers utilize various ink types, including aqueous, solvent, UV-curable, latex, and dye-sublimation, catering to applications in apparel and textiles, advertising, decor, CAD and technical printing, among others. The offerings within this market segment include printers, RIP software, and after-sales services.
The large format printers research report is one of a series of new reports from The Business Research Company that provides large format printers statistics, including large format printers industry global market size, regional shares, competitors with large format printers share, detailed large format printers segments, market trends and opportunities, and any further data you may need to thrive in the large format printers industry. This large format printers research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The large format printers market size has grown steadily in recent years. It will grow from $9. 41 billion in 2023 to $9. 82 billion in 2024 at a compound annual growth rate (CAGR) of 4. 3%. The growth observed during the historic period can be attributed to the demand for high-quality printing, the expansion of the advertising and signage industry, the increasing popularity in graphic arts and photography, the wide range of substrate compatibility, and the growth in textile and fabric printing.
The large format printers market size is expected to see steady growth in the next few years. It will grow to $11. 79 billion in 2028 at a compound annual growth rate (CAGR) of 4. 7%. The anticipated growth in the forecast period can be attributed to the rise in promotional merchandise, the adoption of energy-efficient printing solutions, increased utilization in educational materials printing, the implementation of continuous feed printing systems, and the global economic recovery. Key trends expected in the forecast period encompass the dominance of digital printing, direct-to-object printing, integration of 3D printing, the adoption of print automation and workflow solutions, advancements in print speeds and resolutions, and the promotion of green printing practices.
The large format printer market is experiencing significant growth, primarily fueled by the rising demand in the textiles, advertising, and packaging industries. Large format printers play a crucial role in brand promotion and product launches for companies, facilitating effective outreach to a wide customer base. The textile industry, in particular, has witnessed rapid adoption of large format printers, with automated belt-fed transport systems streamlining the printing process on various textile forms. According to the India Brand Equity Foundation (IBEF), the Indian textile market is projected to surpass $209 billion by 2029, with a noteworthy 9% growth in home textile exports in 2021. This surge in demand from textiles, advertising, and packaging sectors is a key driver propelling the growth of large-format printers in the foreseeable future.
The continual expansion of the e-commerce industry is set to drive the growth of the large format printer market. Large-format printers play a pivotal role in enhancing the visual appeal of online product listings through the creation of high-resolution product images, banners, and promotional materials. This visual enhancement contributes to increased customer engagement and, consequently, higher sales. As of September 2022, consumer e-commerce constituted 30% of the UK's overall retail sector, experiencing a notable increase from 20% in 2020, with an annual revenue exceeding $120 billion, according to the International Trade Administration. Additionally, the United Nations Conference on Trade and Development reported a rise in online retail sales' share of total retail sales from 16% to 19% in 2020. The expansion of the e-commerce industry is thus emerging as a significant factor driving the large format printers market.
A key trend in the large format printer market is the continuous launch of new technologies by companies to remain competitive. Notable advancements include Epson India's introduction of the SureColor R5030 and SureColor R5030L large-format latex printers in 2021. These printers provide a high-performance solution for signage printing with immediate lamination and cost-effective inks, emphasizing versatility, high-speed, and quality printing.
Major players in the large format printer market are strategically focusing on the introduction of multi-use large format printers to gain a competitive advantage. Multi-use large format printers are versatile devices capable of handling various print applications across different industries. For instance, Canon Inc. launched the imagePROGRAF TM series, a line of multi-use large format printers designed for CAD drawings and poster printing. These printers excel in producing high-quality prints suitable for applications such as CAD drawings, GIS maps, posters, signage, and displays.
In April 2023, Keselowski Advanced Manufacturing (KAM) made a strategic acquisition of the Sapphire XC large-format printer from Velo3D, enhancing its 3D printing capabilities. Velo3D is a leading provider of fully integrated metal 3D printing solutions in the United States. This acquisition positions KAM to expand its capabilities in the evolving landscape of 3D printing.
Major companies operating in the in the large format printers market report are Agfa-Gevaert N. V., Canon Inc., Durst Phototechnik AG, Seiko Epson Corporation, Xerox Holdings Corporation, Hewlett-Packard Development Company L. P., Konica Minolta Inc., Mimaki Engineering Co. Ltd., Mutoh Holdings Co. Ltd., The Ricoh Company Ltd., Roland DG Corporation, Fujifilm Holdings Corporation, Kyocera Corporation, Lexmark International Inc., Shenyang Sky Air-Ship Digital Printing Equipment Co. Ltd., SwissQprint AG, Oki Electric Industry Co. Ltd., Toshiba Tec Corporation, Brother Industries Ltd., Panasonic Corporation, Sharp Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., KIP Inc., Dilli Co. Ltd., ColorTrac Group, Neolt S. P. A, CET Color Inc., EFI Inc., Summa NV
North America will be the largest region in the large format printer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the large format printers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the large format printers market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The large format printer market consists of sales of cable, print head, damper, and steel belt. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.