by Ranging from basic desktop printers ideal for home or small office use to more complex printing equipment used for large scale commercial and industrial applications, printing machines are used across a wide array industries including publishing, packaging, textiles, and more.
The global printing machine market is estimated to be valued at US$ 98.72 Mn in 2024 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 Dynamics:
The global printing machine market is primarily driven by its wide range of applications across various industries. Printing machines find extensive usage in industries such as publishing, packaging, textiles among others. The growth of these industries is fueling the demand for advanced printing machines with capabilities such printing in different formats, high resolution printing and ability to print on different surfaces. Furthermore, growing e-commerce industry is also augmenting the demand for printing machines from packaging industry for product labeling and packaging. Growing demand for short-run print jobs from publishers and advertisers is another factor propelling the growth of global printing machine market during the forecast period.
However, growing preference for digital documents over printed copies may hamper the market growth. Rising environmental concerns regarding usage of chemicals in printing along with proper disposal of printed wastage can also act as a restraining factor for the market.
SWOT Analysis
Strength: Printing Machine Market has strong growth potential aided by rising demand for printing and packaging across various end use industries such as food and beverages, personal care, pharmaceutical etc. Moreover, technological advancements in printing machines offering advanced features such as accurate printing, multiple formats and reduced errors has fueled their adoption.
Weakness: High initial investments required for set up of advanced printing machines poses a challenge. Also, availability of cheaper substitutes like digital templates affects demand for printing machines adversely.
Opportunity: Growth in e-commerce industry has bolstered demand for effective labeling and packaging solutions, offering opportunities for printing machines. Rising focus on sustainable packaging solutions also presents an avenue.
Threats: Stiff competition among existing players poses pricing pressure. Also, advances in digital technologies for printing threatens to disrupt conventional printing to some extent.
Key Takeaways
The Global Printing Machine Market Sizeis expected to witness high growth over the forecast period aided by rising need for product branding and labeling across various industries. The market size for Printing Machine is projected to reach US$ 98.72 Mn in 2024 from US$ 74.5 Mn in 2021, registering a CAGR of 5.9% during the forecast period.
Regional analysis European region currently dominates the global market owing to presence of major printing machine manufacturers and early adopter of latest technologies. Asia Pacific is expected to witness fastest growth supported by expanding manufacturing sector and rising merchandise trade in the region.
Key players operating in the Printing Machine market are CHEP, PalletOne, John Rock, Millwood, Brambles, CABKA North America, United Pallet Services, Pacific Pallet, Midland Pallet LLC, The Nelson Companies. Key players are focusing on new product launches catering to emerging trends like sustainable packaging to strengthen their market position.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
