The printing machinery market is expected to witness significant growth, with a projected valuation of US$ 22,814.9 million by 2023, and it is estimated to reach US$ 38.5728 billion by 2033, exhibiting a robust compound annual growth rate (CAGR) of 4.7%.
The increasing preference for processed foods has generated a surge in the need for intricate printing, showcasing detailed nutritional information, pricing, and ingredients on product packaging, consequently driving the demand for advanced printing machinery.
The escalating use of paper and paperboard substrates in India is making a considerable impact on the demand for printing machinery, positioning the country as a pivotal player in the Asia Pacific printing machinery market by 2033. Projected to exhibit a robust 7.6% compound annual growth rate (CAGR) over the forecast period, India emerges as a lucrative market for manufacturers, capitalizing on the expansion of value-added industries in manufacturing. The increasing emphasis on sustainable packaging in India, as highlighted by FMI, is a key driver intensifying the requirement for printing machinery. This is particularly evident in response to the growing production needs of advertising materials, office stationery, books, labels, and packaging.
Simultaneously, Germany’s prominent role as a leading manufacturer in Europe’s instruments, appliances, and parts sector is fostering a substantial demand for printing machinery. Holding a 6.1% market share in 2022, Germany is experiencing growth propelled by key players prioritizing the production of eco-friendly, biodegradable products using paper and paperboard substrates. The industry’s focus on sustainable solutions positions Germany’s printing machinery sector for significant expansion and incremental opportunities, expected to grow 1.2 times in the forecast period.
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Recent Developments:
- In December 2021, Fujifilm Holdings Corporation unveiled its first Revoria Press PC 1120 Production printer in India. This launch is an outcome of the company’s collaboration with its partner Insight Print Communication Pvt. Ltd.
- In December 2021, Komori Corp. and Spectrum Printing captured the award for best folding carton case study in the digital packaging summit. The summit was held at Ponte Vedra Beach, Florida in 2021.
- In October 2021, HP Inc. launched all-around ENVY inspire home printer, designed for a family’s hybrid lifestyle. It is a significantly versatile home printer manufactured by the company. It is made while keeping sustainability in mind & contains over 45% recycled plastic content.
Enlisted below are the Top Manufacturers and Suppliers of Printing Machinery
- Agfa-Gevaert Group,
- Océ Imagistics, Inc.,
- Bobst Group SA,
- Fujifilm Holdings Corporation,
- Heidelberger Druckmaschinen AG,
- Hewlett Packard Enterprise Company,
- Koenig & Bauer AG,
- Komori Corporation,
- Apex Machine Company Inc., and
- Cerutti Group
Following Drivers are Predicted to Imbue the Market with Growth Potential:
- Surge in Demand for Offset Printing Process: This process is commonly used for applications, such as book notes, marketing material, packaging, etc. This printing method applies to legal forms, documents, catalogs, brochures, and calendars. Heightened demand for offset printing is propelling the requirement for printing machines.
- Soaring Food and Beverage Industry: Rising demand for processed foods has led to growing demand for detailed printing that shows nutritional profiles, prices, and ingredients on the product package. This has also pushed the demand for printing machinery.
The Development of Digital Printers Increase the Demand for Printing Machinery Market
The adoption of digital printers has surged exponentially, outpacing conventional printing technology, owing to their numerous advantages. Notably, digital printers stand out for their versatile capability to print on various substrates, including aluminum, glass, and wood. This trend in substrate printing is anticipated to open up new opportunities for non-label printing options in the future.
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Printing Machinery Market by Category
By Product Type:
- Offset Lithography
- Flexography
- Screen
- Gravure
- Letterpress
- Digital
- Others
By Substrate Type:
- Plastic
- Paper & Paperboard
- Metal
- Other Substrates (Wood, Glass, Fabric)
By Application:
- Packaging & Labels
- Books
- Newspaper & Magazines
- Commercial Printing & Others
- Advertising
- Office Stationaries
By End Use:
- Commercial
- Publication
- Packaging
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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