The industrial printer market size is estimated to be worth USD 23,395.0 million in 2024 and is anticipated to reach a value of USD 31,699.9 million by 2034. Sales are projected to rise at a CAGR of 3.1% over the forecast period between 2024 and 2034. The revenue generated by industrial printer in 2023 was USD 22,567.7 million.
Despite being applied in various end-use industries, industrial printers make a major application in the packaging sector for labelling and printing on different packaging formats such as pouches, bags, bottles, cans, and corrugated cartons.
Industrial printing plays an important role in the packaging sector because they provide high-speed and high-quality prints on labels, barcodes, and other designs; they are more accurate and cost-effective and can serve in production processes for many years. Due to these factors the packaging sector is expected to capture more than 36% of the total market share over the forecast period.
Industrial Printer Industry Forecast
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 22,567.7 million |
| Estimated Size, 2024 | USD 23,395.0 million |
| Projected Size, 2034 | USD 31,699.9 million |
| Value-based CAGR (2024 to 2034) | 3.1% |
Aqueous/water-based inks lead the market for ink type with a 39.5% share in 2024, followed by other ink types. This is because they are eco-friendly, fast-drying, have vibrant colour output, low odour, and environmental impact, making them best suited for packaging, labels, and consumer product printing.
Fabric as the substrate type is expected to record a CAGR of 3.6% in the industrial printer market during the forecast period. This will be because of the requirement for customized textiles, ecologically friendly printing, and applications in fashion, home decor, and promotional products.
The industrial printer market will witness profitable growth during the forecast period. It is expected to create an incremental opportunity of USD 9,132.2 million and grow by 1.4 times its current value by 2034.
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The below table presents the expected CAGR for the global industrial printer market over several semi-annual periods spanning from 2024 to 2034.
| Particular | Value CAGR |
|---|---|
| H1 | 2.9% (2023 to 2033) |
| H2 | 3.3% (2023 to 2033) |
| H1 | 2.8% (2024 to 2034) |
| H2 | 3.4% (2024 to 2034) |
In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 2.9%, followed by a slightly higher growth rate of 3.3% in the second half (H2) of the same decade. Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 2.8% in the first half and remain relatively moderate at 3.4% in the second half. In the first half (H1) the market witnessed a decrease of 10 BPS while in the second half (H2), the market witnessed an increase of 10 BPS.
Infrastructure Expansion and Urbanization Drive Demand for Advanced Printers
Increased urban population and vast areas under development worldwide call for significant infrastructures such as building and constructions, roads and highways, and cities amenities. The U.S Department of Commerce stated that, between 2010 and 2030, the demand for all types of infrastructure worldwide will grow to over USD 53 trillion. Also, some developing countries are experiencing an increase in investment associated with the development of infrastructure.
For example, the Indian government budget for 2024 to 2025 showed a significant increase in over 10% Y-o-Y capital outlay on infrastructure investment for the same period. However, this boom of building cities brings up a substantial demand for printing the kind of documents involved with the undertaking, like blueprints, planning, signs, and promotions.
As a result, the infrastructural expansion and urbanization directly give rise to the demand for the high-end industrial printers that are substrate and feature friendly, having features such as UV resistance.
Advancements in Print Head and Ink Systems Propel Industrial Printer Market Growth
There is a growing demand for industrial printers globally which arises from the increased technologies associated with the print head and ink delivery system. Modern print heads are capable of printing at much higher resolution and thus ensure correctness and high quality of print results on various materials. Effective systems of ink delivery promote flow with less wastage, also improving the speed of the prints.
These improvements make industrial printers even more versatile in performance with a high degree of capability in terms of complex high-volume print jobs across different industries such as packaging and textiles and the manufacturing industry.
Additionally, further advancements in digital printing technologies combined with both inkjet and laser-based systems offer new ways of printing at low costs, and on-demand, which contributes to the growth of the market.
The ability of these systems to print different substrates with improved durability and colour fidelity also accelerates the adoption of these printers in sectors requiring high precision and scalability. Thus, advancements in print heads and ink delivery have become pivotal driver shaping the industrial printer market
Complexity and Maintenance Requirements May Challenge Market Adoption
Complexity and maintenance requirements are significant restraints in the global industrial printer market. Such printers contain advanced technologies that require expertise to operate and maintain them. Therefore, companies need to spend on training the staff or outsource the maintenance, which again incurs extra costs.
This can be especially difficult for SMEs, which may not have the resources available to properly train employees or hire experienced engineers. The high maintenance requirements and subsequent expense could make new industrial printing technologies unfavorable for adoption by SMEs, thus slowing market growth. Second, such systems are complex and take more time to recover from downtime, thus discouraging the potential buyer.
Principal Consultant
The global industrial printer market recorded a CAGR of 2.0% during the historical period between 2019 and 2023. Market growth of industrial printer was positive as it reached a value of USD 22,567.7 million in 2023 from USD 20,876.4 million in 2019.
The global industrial printer market over the historic period has grown steadily due to technological advancements, the rising demand for customized packaging, and greater automation in manufacturing. However, high initial costs and slow replacement cycles somewhat limited rapid adoption across various sectors.
The market is expected to have stronger growth over the following decade, from 2024 to 2034. Advancements in print head technologies, increased speed, precision, and compatibility with materials will increase demand. Growth will further accelerate throughout this period due to rising needs for on-demand and customizable printing in markets like packaging, textiles, and automotive.
Tier 1 companies comprise market leaders capturing significant market share in global market. These market leaders are characterized by high production capacity and a wide product portfolio. These market leaders are distinguished by their extensive expertise in manufacturing across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base.
They provide a wide range of series including recycling and manufacturing utilizing the latest technology and meeting the regulatory standards providing the highest quality. Prominent companies within tier 1 include Canon Inc, Fujifilm Holdings Corporation, HP Inc., The Ricoh Company, Ltd., Xerox Corp, and Heidelberger Druckmanschinen AG.
Tier 2 companies include mid-size players having presence in specific regions and highly influencing the local market. These are characterized by a strong presence overseas and strong market knowledge. These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in tier 2 include Seiko Epson Corporation, Eastman Kodak Company, Koenig & Bauer AG, Konica Minolta Inc and many more.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The section below covers the future forecast for the industrial printer market in terms of countries. Information on key countries in several parts of the globe, including North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe and MEA is provided. Canada is anticipated to remain at the forefront in North America, with a CAGR of 3.5% through 2034. In South Asia and Pacific, India is projected to witness a CAGR of 4.9% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 2.3% |
| Germany | 1.4% |
| China | 4.0% |
| UK | 1.7% |
| France | 2.1% |
| India | 4.9% |
| Canada | 3.5% |
The market in the USA for industrial printer is forecasted to account for a CAGR of 2.3%, compared to other countries in the Western European region by 2034.
In the USA, investments in out-of-home advertising are spurring the demand for advanced industrial printers. In the United States, out-of-home advertisement spending is boosting demand for industrial-grade printers for advanced applications. Printed out-of-home media surged nearly 7% during Q1 2024 compared with the same quarter last year, and comprised two-thirds of the market, reports the Out of Home Advertising Association of America.
With the focus of businesses on attracting consumer attention through high-quality printed materials, the demand for industrial printers that can produce large-format, durable, and dynamic content has grown. Features such as weather-resistant inks, fast turnaround times, and versatile printing capabilities are essential to meet the demands of the OOH sector.
This trend toward interactive and digitalized formats for advertisement has once more propelled advances in printing technologies, thereby positioning USA manufacturers to take full advantage of the expanding market opportunities within the OOH advertising market.
The packaging industry in India holds enormous opportunities for the industrial printers market in the country. The country is estimated to register a CAGR of 3.3% during the forecast period.
As the country's packaging industry becomes prolific, the industrial printer market in India is also growing. With rapid urbanization and a booming e-commerce sector within the country, packaged goods are becoming more prevalent, which translates to the demand for great-quality printing with high efficiency. The rise in organized retail drives packaging needs with precision and customization in labelling for various products.
This is coupled with demand stimulated by India's push for manufacturing and export growth, alongside a growing middle-class population that will consume more packaged food, beverages, consumer goods, etc. Sustainability initiatives are also pushing companies toward eco-friendly printing solutions. This combination of factors in India is expected to push the demand for industrial printers in upcoming years.
The section contains information about the leading segments in the industry. In terms of printing technology, offset lithography is estimated to account for a share of 48.7% by 2034. By printer type, analog printers are projected to dominate by holding a share of 71.8% by the end 2034.
| Printing Technology | Offset Lithography |
|---|---|
| CAGR (2034) | 2.6% |
Within the printing technology segment in the industrial printer market, offset lithography expected to lead the market during the forecast period and grow at a rate of 2.6% till the end of 2034.
Different varieties of printing technologies are used as per the demand and compatibility with the type of printers, among these offset lithography is preferred over other technologies across the globe. Its long-standing ability to produce high-quality printed products makes it a perfect source for mass-production industries such as packaging and commercial printing.
Offset lithography offers excellent colour accuracy and guarantees that large batches are always printed consistently. The technology also makes high-volume printing cost-effective by reducing the per-unit cost over long print runs. It does not have a substrate dependency and is capable of printing on paper cardboard or plastic. This makes offset lithography a preferable technology for large-scale industrial printing because of its efficiency and superior print quality.
| Printer Type | Analog Printers |
|---|---|
| CAGR (2034) | 3.3% |
Analog printers as compared to desktop printers are estimated to lead the printer type segment in the industrial printer market and grow at a CAGR of 3.3% till 2034.
Analog printers form an important part of industrial printing as they provide unique solutions for all demanding applications. The advanced technologies couple with fine line accuracy and high detailed textures make it a printer to be handled for industries regarding security printing, specialty packaging, or architectural designs. Unlike digital printers, analog printers can easily work with custom ink formulations to exactly replicate special finishes like metallic matte or embossed.
The mechanical precision of analog systems makes them feasible at producing consistent high speeds even in environments where print fidelity has to be absolute. In addition, they can work on custom press configurations; besides, their adaptability to different print sizes makes them invaluable in niche markets that require both quality and flexibility in production.
Key players of industrial printer industry are developing and launching new products in the market. They are integrating with different firms and extending their geographical presence. Few of them are also collaborating and partnering with local brands and start-up companies for new product development.
Key Developments in Industrial Printer Market
In terms of printing technology, the industrial printers market is divided into offset lithography, flexography, screen, gravure, letterpress and digital.
Two major printer types are included in the industrial printer market such as analog printers and desktop printers.
Various substrate types in the industrial printer market include plastic, paper & paperboard, metal, fabric and other substrates (wood, glass, etc.).
The ink type segment in the industrial printer market consists of aqueous/water-based inks, solvent-based inks, UV-based inks, hot melt inks and toner.
Some of end users related to industrial printer market include commercial, publication, packaging and textile. The commercial further includes advertising and banners & hoardings. The publication segment is further sub-categorized into books, newspapers & magazines and office stationaries. The packaging segment is further sub-segmented into labels, pouches & bags, corrugated packaging, bottles & cans and other packaging formats. Also, the textile end use included garments & apparels, home furnishings, technical textiles and others.
Key countries of North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe, Middle East and Africa are covered.
The industrial printers industry is projected to witness CAGR of 3.1% between 2024 and 2034.
The global industrial printers industry stood at USD 22,567.7 million in 2023.
Global industrial printers industry is anticipated to reach USD 31,699.9 million by 2034 end.
South Asia & Pacific is set to record a CAGR of 4.2% in assessment period.
The key players operating in the industrial printers industry are include Canon Inc, Fujifilm Holdings Corporation, HP Inc., The Ricoh Company, Ltd., Xerox Corp, and Heidelberger Druckmanschinen AG.
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Industrial Printer Market
