Recent penetration of digitalization across various fields is creating lucrative growth opportunities for the global print equipment market. In a report, titled, “ — Print Equipment Market Size, Share and Global Trend By Type (Offset, Digital, Flexo), By End Use (Packaging, Publication, Commercial) and Geography Forecast Till 2025”, Fortune Business Insights highlights various factors propelling growth in the market.
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As per the report, the global print equipment market is prognosticated to be worth US$ 20.04 Bn by the end of 2025 from US$ 19.74 Bn in 2017. Automation in printing and other advantages of print equipment will enable the market to rise at a CAGR of 0.21%, during the forecast period of 2018 to 2025.
Benchmarks Achieved in Last Few Years to Enable Market Gain Momentum
Various sustainable developments achieved by manufacturing companies are enabling the print equipment market reach new benchmarks. To cite an example, Nestlé Waters, based in North America, has reduced the size of their label by 35% for their bottles. Such steps will positively affecting the print equipment market in the coming years. Various other companies are investing considerably in packaging printing machinery. This is due to the rise in demand for innovations in label printing, including recyclable packaging and lightweight labels.
On the flip side, the high cost incurred on the implementation of printing structure may restrict growth in the market. Besides high cost structure and sensitive pricing environment, the shifting preference from traditional media to digital media in printing technique might as well hinder the global market in the coming years.
Introduction of 3D Printing to Foster Growth Opportunities
The demand for reduced weight in product packaging and use of thinner and smaller labelling is increasing by the day. This is likely to bode well for print equipment market. Furthermore, emphasis laid on recycling ability of the printing labels is expected to contribute positively to the print equipment market. Various local authorities and governments are emphasizing on promoting packaging materials with recycling ability in order to maintain clean environment worldwide. Besides this, the shifting consumer preference towards environment friendly products will help the promotion of green labels in the coming years.
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The advent of 3D printing will create growth opportunities for the print equipment. The introduction of nanotechnology in printing technology is likely to increase scope for the market’s growth. For instance, Landa Corporation developed nanotechnology to use in printing in the year 2012. This was enabled by using small pigments in water-based particles. This technology includes both digital and offset printing with respect to speed and quality. Such innovations will bode well for print equipment in the market during the forecast period.
Asia Pacific to Offer Lucrative Growth Opportunities Especially from End User Segments
Geographically, North America and Europe are the leading the global printing equipment market. However, stagnancy of growth opportunities in these regions is impelling market players to shift focus on emerging countries. Furthermore, the market is expected to gain from the rising demand from diverse industries. For instance, the textile industry is adopting printing equipment for introducing innovative cloth designs such as visual graphics, washable print, and others, as per the frequently changing fashion trends.
According to Fortune Business Insights, the global print equipment market will gain pace in response to the use of printing techniques for adorning items such as mouse pads, trophies, mugs, apparel, and signage. In addition to this, the increasing demand for various printing types such as Flexo, digital, web, sheet fed, and others, will bode well for the global market in the coming years.
Some of the companies operating in the global printing equipment market are WINDMOELLER & HOELSCHER CORPORATION, Landa Corporation. Mark Andy Inc., Barry-Wehmiller Companies, Xeikon, KOMORI Corporation, and Mark Andy Inc.
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