Printing machines are used for printing a variety of materials like paper, plastic, metal, glass, fabric, ceramic using different printing technologies like flexography, gravure, digital and offset printing. Printing machines provide high quality, mass production and versatility in printing.
The global Printing Machine Market is estimated to be valued at US$ 85.69 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the growth of the printing machine market is the offsetting of digital printing technology. Digital printing is gaining traction over traditional offset printing as it offers advantages like on-demand printing, variable data printing and instant turnaround times. Also, recent technological advancements have enabled digital presses to match the quality and speeds of offset presses. This has increased their acceptance for printing magazines, brochures, pamphlets and books in shorter runs economically. With continued improvements in print quality and productivity, digital technology is expected to capture a bigger share of the printing industry over the forecast period.
SWOT Analysis
Strength: Printing machines offer high productivity and can print large volumes of products in less time. They help in mass production and scaled up manufacturing.
Weakness: Printing machines require high capital investment and have high operating and maintenance costs. Frequent technological upgrades can make existing machines obsolete quickly.
Opportunity: Growing e-commerce industry and demand for personalized and customized printing is creating opportunities for manufacturers. Printing on new materials like fabric, ceramics, glass etc. is expanding applications.
Threats: Stiff competition from local and international players. Environmental regulations regarding waste disposal can increase compliance costs. Alternatives like digital printing are threatening opportunities in some applications.
Key Takeaways
The Global Printing Machine Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated at US$ 85.69 Mn and is projected to grow at a CAGR of 16% during the forecast period.
Regional analysis – Asia Pacific region currently dominates the global market and is expected to maintain its leading position over the next few years. This can be attributed to rising industrial activities, growing packaging industry and expanding electronics sector in countries like China, India and other ASEAN countries. Europe and North America are also significant markets boosted by well-established printing industries.
Key players – Key players operating in the printing machine market are Bio-Rad Laboratories, Biocept Inc., Guardant Health, QIAGEN N.V, Illumina, Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Laboratory Corporation of America Holdings, MDxHealth SA, Thermo Fisher Scientific Inc.. These major players are focusing on new product launches, partnerships, acquisitions and strengthening their distribution networks to expand regional presence and gain higher market shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it