USD 22.89 billion
Report ID: SQMIG55A2007 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 64 | Figures: 75
Global Print Equipment Market size was valued at USD 22.89 billion in 2021 and is poised to grow from USD 23.4 billion in 2022 to USD 27.85 billion by 2030, growing at a CAGR of 2.20% in the forecast period (2023-2030).
The invention of printing presses has enabled the mass production of books, newspapers, magazines, and other reading materials. In order to promote literature, printing is crucial. For instance, according to the World Association of Newspapers and News Publishers (WAN-IFRA) 2020 facts report, the print circulation was 521 million around the globe. According to the estimates publishers are earning about 82% of their total revenue from print, and that revenue will prove vital for publishers continuing to transition to a more digitally-focused business.
The global printing machine market is expanding as a result of the expanding packaging industry and rising demand for advanced graphics in this sector. Additionally, the expansion of e-commerce has become a key element in the growth of the packaging market, which has in turn increased demand for printing equipment. For instance, the Indian Brand Equity Foundation estimates that the country's e-commerce sector earned $15 billion in revenue in 2016 and went on to reach $64 billion in 2020, with a CAGR of 44.8 percent.
The fundamental force behind this growth of the print equipment market is the quick development of technology. One of the most recent advancements influencing the prognosis for the global market for printing machines and equipment is instant and on-the-go printing. By using the appropriate smartphone app, wireless connectivity in portable printers enables hassle-free printing for consumers. In addition to inspiring the future generation of young users to be more imaginative and acclimated to using printers with this technology, the futuristic technology will also. The supply of essential raw materials for inks and their components has been particularly difficult over the past few years, forcing ink businesses to scramble to obtain inks and coatings at significantly higher costs. As per reports, sales of printing equipment fell by 24 percent in 2020 as a result of the coronavirus epidemic, totalling to USD 13.2 billion globally.
US Print Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 22.89 billion
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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.
Print Equipment Market Analysis by Type
On the basis of type, the print equipment market is segmented into offset, digital, flexo and others. Today, offset printing is the most popular printing technique, which is used for a variety of purposes including book notes, packaging, marketing materials, etc. Offset printing can be used to print everything that has to be done, hence it is predicted to have the maximum market share in this segment. It is commonly used for printing newspapers, books, legal documents, periodicals, brochures, business cards, letterhead, booklets, business forms, flyers, calendars, and invitations.
Lithographic printing and offset printing are frequently combined. The paper does not make direct touch with the printing plate while using offset lithography.
Print Equipment Market Analysis by End-Use
Based on end-use, the print equipment market is segmented into packaging, publication, commercial & others. Packaging will dominate the end-use market for printing equipment globally in 2021, with a market share of almost 49.2 percent. Due to the increasing demand for applications like packaging and labelling, the end-user industry segment of the print equipment market will continue to be dominated by packaging. Recent spike in government spending on manufacturing value-added industries in emerging nations will have an expansion rate of 1.3 times its current market value on the packaging end-use segment.
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Global print equipment market is anticipated to be led by North America in the coming years. The trend is not expected to change any time soon. Rapid technological development and early uptake of cutting-edge technology in the area are the key market drivers.
Asia Pacific, on the other hand, is anticipated to grow at a considerably higher CAGR and hold a sizable share of the global print equipment market. The growth of the Asia Pacific Print Equipment Market is anticipated to be aided by the rise of packaging printing services in countries like China and India. Additionally, it is projected that the region's rising literacy rate will increase demand for more printing supplies and printed goods including books, periodicals, and other items. As per reports, by the end of 2026, India will be the second-largest shareholder in the Asia Pacific printing equipent market, holding close to 26% of the market. Printing equipment manufacturers would have plenty of attractive prospects to increase their revenue production in APAC nations as a result of the growth and penetration of manufacturing value added sectors. According to data published by the United Nations Statistics Division, China accounted for 28.7 percent of global manufacturing output in 2019. The demand for printing equipment has gradually grown as a result of Asian countries like China and India's continuously rising production of packaging, office stationery, books, labels, and advertising. The demand for environmentally friendly, biodegradable solutions has also fuelled the expansion of the global printing machinery market.
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Print Equipment Market Driver
The primary force behind the growth of the print equipment market is the quick development of technology. Apart from this, instant and on-the-go printing is gaining all the popularity around the globe. By using the appropriate smartphone app, wireless connectivity in portable printers enables hassle-free printing for consumers. In addition to inspiring the future generation of young users to be more imaginative and acclimated to using printers with this technology, the futuristic technology will also.
As per World Press Trends by the World Association of Publishers, advertising was cited as the single most important source of income (27%) despite the declines in print advertising and ongoing difficulties with digital advertising, as well as the fact that audience revenue has consistently surpassed ad revenue in the reports for the past five years. Subscriptions (21%) and single copy sales (10%) were next, followed by a collection of various revenue streams.
Print Equipment Market Restraint
Despite the widespread usage of various reading materials, the print equipment market is anticipated to be impacted by the growing digitization. As per WAN-IFRA report by the World Association of Publishers, consumers strive for excellent journalism in a tumultuous "environment," filled with disinformation and mistrust, digital reader revenue and digital readership continued to rise dramatically last year, up roughly 27 percent and 36 percent, respectively. Additionally, publishers are relying on audiences-first approaches and digital subscriptions as the cornerstones of a sustainable future. This makes publishing challenges more difficult. The print equipment market expansion is projected to be hampered by the growing use of digital data and reading materials, such as e-books and online news subscriptions. While digital advertising remains a challenge on a number of fronts, revenues increased 8.8% last year.
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Global print equipment market is growing and welcoming new competitors. To increase their market share, major players are concentrating on technological developments. As an illustration, Landa Corp. recently created nanotechnology to print on any type of surface with a minimum amount of pigment water-based particles. These advances should bode well for the world market.
Electrography and inkjet are two examples of digital printing technology that are creating new opportunities for suppliers and equipment makers. Analog print technology is losing ground to digital machines. As a result, manufacturers in the global print equipment market are putting a lot of effort into upgrading technology to better serve customers. For instance, the top digital printing business in Malaysia, Dot2dot, is modernising itself in digital printing.
Print Equipment Market Top Player's Company Profiles
Print Equipment Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global print equipment market analysis, a major portion of audience who prefer print media, technological advancements in printing technology and revenue generated by advertisements through print media are some major factors driving the growth of the global print equipment market.
|Market size value in 2021||USD 22.89 billion|
|Market size value in 2030||USD 23.4 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Print Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Print Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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