June 18, 2024
Printing Machine Market
Ict

Growing Demand for Digital and Multifunction Printing Machines to Boost Growth of the Printing Machine Market

The global 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 equipment that replicates text and images from a master that is imprinted or engraved on a substrate such as paper, metal, plastic or fabric. Different types of printing machines are used for specialized applications like offset lithography, flexography, gravure, screen and digital printing. Major printing machines include offset lithography machines, flexography machines, gravure printing machines, screen printing machines and digital printing machines. Offset lithography and digital printing machines have gained traction in the recent past owing to advantages like affordability, high resolution, ability to print in small batches and on-demand printing. Printing machines find applications across publishing, packaging, labelling and commercial printing industries.

Market key trends:
One of the key trends in the printing machine market is growing demand for digital and multifunction printing machines. Print service providers are shifting from traditional printing to digital printing due to advantages like on-demand printing, affordability in shorter print runs, high quality output and no need for plates or films for images. Digital printing machines enable the combination of scanning, copying and printing functionality in a single unit and allow integration with cloud applications for remote printing and scanning. Their ability to print in smaller batches cost-effectively is driving demand from publishers and packaging printers. Growing adoption of digital printing technology across commercial printing and in-plant applications is expected to drive growth of the overall printing machine market during the forecast period.

Porter’s Analysis
Threat of new entrants: The global printing machine market requires high initial investment for R&D and capital, acting as a barrier for new entrants. The market is dominated by well-established players.
Bargaining power of buyers: The presence of several printing machine manufacturers allows buyers to negotiate on price, however differentiated products prevent complete control of buyers.
Bargaining power of suppliers: Key components such as ink, toner etc are available from numerous global suppliers limiting their influence over manufacturers.
Threat of new substitutes: Digital printing and 3D printing poses threat to conventional printing but are not direct substitutes due to difference in applications.
Competitive rivalry: The global printing machine market is highly competitive with major players differentiating based on technology, quality, and pricing. Price wars are common.

Key Takeaways

Global Printing Machine Market Demand is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing demand for digital and commercial printing applications.
Regional analysis: Asia Pacific dominates the market and is expected to grow at highest CAGR owing to strong demand from countries such as China and India. Europe and North America also capture significant market shares.
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. Key players are focused on portfolio expansion through mergers, acquisitions and new product launches to strengthen market presence. High investment in R&D aids differentiation and drives market revenue.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it