Printing machines have various applications across industries such as advertising, packaging and publishing by providing high-quality and cost-effective options. Key components of printing machines include plates, blankets and printing units which help transfer the image from plates to substrate. Printing machines offer advantages such as bulk production, high accuracy, consistency in designs and are thus crucial for marketing campaigns as well as branding activities.
The global printing machine market is estimated to be valued at US$ 98.72 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Package design automation presents a major opportunity in the printing machine market. Package printing is evolving with advances in technology which allow designing complex package graphics and manipulating them for printing. Printing machines integrated with package design automation software helps design custom packages easily by drag and drop functions. This allows designing customized graphics, labels and flexible designs according to brand requirements. Package design automation reduces design errors, speeds up the printing process and consistency in designs. It is helping print shops to provide one-stop solutions to their clients and improve their offerings. The demand for such automated printing machines from packaging industry is expected to increase significantly thereby presenting lucrative growth opportunities for players in the printing machine market.
Porter’s Analysis
Threat of new entrants: Low capital requirements however industry is capital intensive with economies of scale are important. Brand loyalty and customer base reduce ability of new players to capture market share.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and standardized nature of products. They can negotiate on pricing and demand better services.
Bargaining power of suppliers: Suppliers of raw material like paper, ink, plates have moderate bargaining power due to availability of substitutes. However, suppliers of specialized machinery have high bargaining power.
Threat of new substitutes: Threat from digital printing is moderate as it cannot replace large scale commercial printing. However, it is a threat for short run print jobs. Advances in digital technology pose a threat over the forecast period.
Competitive rivalry: Competition is high with players competing on pricing, quality, delivery time and services. Industry is fragmented with large number of players.
SWOT Analysis
Strength: Established brands, economies of scale, wide product portfolio and capabilities are key strengths. Technology leadership and R&D capabilities provide competitive edge.
Weakness: Large capital requirements and high fixed costs reduce flexibility. Printing machines have shorter lifespan requiring frequent replacement/upgrades draining funds.
Opportunity: Growth in packaging, labels and commercial print markets offer scope for expansion. Increasing demand in Asia Pacific and Middle East & Africa provides opportunities.
Threats: Regulations on VOCs and hazardous substances increase compliance costs. Fluctuating raw material prices and supply disruptions impact costs. Digital printing substitution threatens conventional printing.
Key Takeaways
The Global Printing Machine Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is US$ 98.72 Mn and is anticipated to reach US$ 173.74 Mn by 2031, expanding at a CAGR of 5.9%.
Regional analysis indicates that Asia Pacific will continue to dominate the global market through 2031 driven by lucrative opportunities in China, India and other emerging Asian countries. The increasing urbanization, rising disposable incomes and expansion of manufacturing and retail sectors have been driving the demand for printing machines in the region.
Key players operating in the Printing Machine market are CHEP, PalletOne, John Rock, Millwood, Brambles, CABKA North America, Uanited Pallet Services, Pacific Pallet, Midland Pallet LLC, The Nelson Companies. Players compete on innovation, quality, reliability and services. Strategic partnerships, mergers and acquisitions are common in the industry landscape.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it