The global large format printer market - valued at US$9.15 billion in 2020 - is projected to register an annual growth rate of 4.2% to reach US$13.7 billion by 2030, according to new research. Inkjet printing now accounts for more than 50% of the large format market.
“Prominent factors that impact the large format printer market growth are increasing usage of large format printers in textile and advertising industries, growing popularity of dye-sublimation printing, and increasing adoption of UV-curable inkjet printer,” according to a new report by Allied Market Research titled Large Format Printer Market by Offering, Printing Technology, Print Width, Ink Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030.
The inkjet printing segment accounted for more than 50% of the large format printer market share in 2020, while the solvent segment is projected to grow at a CAGR of 2% during the forecast period.
The report’s findings include:
- high initial investments and operating costs are restricting market growth;
- advancements in technology such as ink and ink-level monitoring software have enhanced efficiency and productivity;
- the rise in demand for digital print on curtains, wall hangings to cushions, and bed covers is accelerating adoption of large format printers for home décor applications. “The decorative market is growing rapidly as homeowners and businesses look to enhance and customize their homes, workplaces, and brands,” it said. “Whether for a teenager’s bedroom, an office creative space, or a hotel lobby, today’s generation is focused toward solutions that offer adaptable, personalized services, and environmentally responsible products.”
- the rise in adoption of large format printers in vehicle wraps is expected to create lucrative opportunities;
- the rise in popularity of dye-sublimation printing in event photography & photo booths pushes large format printer market growth;
The report cautioned that Covid-19 is having a large impact on both consumers and the economy. “Electronics manufacturing hubs have been temporarily shut down to liming the Covid-19 spread among the individuals. This has affected the supply chain of the market by creating shortages of materials, components and finished goods. Lack of business continuity has ensured significant negative impacts on revenue and shareholder returns, which are expected to create financial disruptions in the industry.”
Key players profiled in the report include Agfa-Gevaert (Belgium), Canon Inc. (Japan), Mutoh (Japan), Durst Group AG (Italy), Epson Corporation (Japan), HP Inc. (U.S.), Konica Minolta (Japan), Mimaki Engineering (Japan), Ricoh (Japan), Roland DG (U.S/Japan), and Fujifilm (Japan).