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Print Equipment Market size was valued at USD 22.89 billion in 2019 and is poised to grow from USD 23.4 billion in 2023 to USD 27.85 billion by 2031, growing at a CAGR of 2.20% in the forecast period (2024-2031).

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. 'HP Inc.', 'Canon Inc.', 'Epson America Inc.', 'Brother Industries Ltd.', 'Xerox Corporation', 'Konica Minolta Inc.', 'Ricoh Company Ltd.', 'Kyocera Document Solutions Inc.', 'Toshiba Tec Corporation', 'Lexmark International Inc.', 'Fujitsu Ltd.', 'Oki Electric Industry Co. Ltd.', 'Sharp Corporation', 'Samsung Electronics Co. Ltd.', 'Panasonic Corporation', 'Seiko Epson Corporation', 'Roland DG Corporation', 'Mimaki Engineering Co. Ltd.', 'Mutoh Holdings Co. Ltd.', 'Agfa-Gevaert Group'

Technological Advancements in Printing Technology

The sustainability mission taken up by key players active in the print equipment market to compel the market to bring in eco-friendly products. For example, recently Bobst launched a new "high barrier flexible packaging solution" designed for recyclability. The company had successfully completed a pilot of the Digital Product Passports (DPP) initiative for a demo machine in Manchester. Moreover, switching to eco-friendly printing equipment, ink manufacturers are developing eco-friendly inks as consumers become more aware of the effects of their decisions on the environment. As compared to petroleum-based ink, soy-based ink provides true colours, is more environmentally friendly, and makes it simpler to recycle paper. This class of environmentally friendly inks is becoming more and more popular as corporate sustainability.

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.

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Global Print Equipment Market

Product ID: SQMIG55A2007