The Printing Machine Market is estimated to be valued at US$ 85.69 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Printing machines are used to create multiple copies of images or text through various printing techniques such as lithographic, gravure, screen, and flexographic printing. Commercial printing machines are used for publishing newspapers, magazines, and promotional content for various industries. Meanwhile, digital printing machines are gaining popularity due to their ability to print on demand and in small volumes. Common types of printing machines include offset lithography machines, flexographic presses, gravure printing presses, and digital presses.
Market Dynamics:
The growing demand for short run printing and on-demand printing from various end-use industries is driving the growth of the printing machine market. Offset and digital printing machines enable printing in low volumes cost-effectively, thereby finding increasing adoption from publishing houses and commercial printers. Furthermore, the ability of digital printing machines to print on a wide range of substrates is supporting their demand from industries such as packaging and textile. Meanwhile, advanced features such as automation, increased productivity, and improved image quality offered by new printers is also fueling the market growth. However, growing preference for digital content over printed materials may restrain the demand for conventional printing machines.
Segment Analysis
The global printing machine market is dominated by the digital printing sub-segment, which accounted for nearly 60% share of the overall market in 2022. Digital printing machines offer benefits like high speed, multi-color printing, and on-demand printing with lower inventory costs. This makes digital printing machines ideal for printing books, magazines, newspapers, packaging materials, labels, and more. Printers can respond quickly to market demands and reduce waste using digital printing machines.
PEST Analysis
Political: Governments around the world are promoting sustainable practices and reducing dependence on fossil fuels, encouraging use of eco-friendly digital printing over conventional counterparts. This provides opportunities for digital printing machine manufacturers.
Economic: Increasing industrialization and commercial activities are driving demand from packaging, publishing, labeling industries globally. Developing economies are witnessing growth in manufacturing and retail sectors boosting printing machine adoption.
Social: Rising literacy rates and purchasing power are increasing print media consumption worldwide. Growing inclination towards printed books, newspapers over digital versions augments market growth.
Technological: Advancements in digital printing technology like multi-functional machines, high resolutions, variable data printing, integration with AI are supporting on-demand and customized printing needs of customers.
Key Takeaways
Global Printing Machine Market Demand is expected to witness high growth, exhibiting 11% CAGR over the forecast period 2023 to 2030, due to increasing demand from packaging, publishing, advertising industries globally. The market size for 2023 is estimated to be US$ 85.69 billion.
Regional analysis: The Asia Pacific region dominates the global printing machine market with nearly 40% share Supported by strong growth in manufacturing, retail sectors in emerging economies like China and India. North America, Europe are other major regions fueled by well-established printing industries in US, Germany, UK and technological advancements.
Key players analysis: Key players operating in the printing machine market are Heidelberg Printing Machinery AG, Komori Corporation, Koenig & Bauer AG, Manroland Goss web systems, HP Inc., Xerox Corporation, Canon Inc., Ricoh Company, Ltd., Epson, Konica Minolta, Inc. Players are focusing on product innovation, customization and integrating advanced technologies to cater diverse printing needs of customers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
