According to a new market research report published by Credence Research “Global Printing Machines Market (Product (Offset Lithography, Flexography, Gravure, Letterpress, Digital), Application (Clothing/Garment, Paper, Display & others, Technical textiles) Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the printing machines market is set to grow with a CAGR of 4.5% during the forecast period, starting from $19.50 Bn in 2018.
The global printing machines market is driven by rapid developments and changes in the manufacturing techniques of these machines. The advanced machines are developed with integrated software and tools that help the user to handle the machines hassle-free. Additionally, printing machines are now being developed in various sizes in order to be user friendly and easy to carry along if required. Such features are driving the adoption of printing machines are thus, fueling the growth of this market.
Furthermore, growing investments in the development process by commercial users, increasing digitization, and growing need for high quality printing techniques is also fueling the growth of this market. However, varied costs of the machines and constant up-gradation in the machine technology which makes it difficult for the users to stay updated with are some of the factors likely to hinder the market growth during the forecast period.
Moreover, the key players are seeking for new opportunities that would help them enhance their revenue and provide variety of advanced and high-quality products. These investments and strategic activities acts as growth opportunities and enhances the market position of emerging as well as established players operating in the industry.
The offset lithography market segment led the overall printing machines market by holding a largest market share and generating a revenue of around $9.50 Bn in 2018. This high market size is based on the fact that these machines are more economical, as they make the printing surface ink-adsorbent and saves the additional maintenance cost.
Based on geography, Asia Pacific’s printing machines market is estimated to grow at a CAGR of more than 7.5% during the forecast period. The growth of the market is driven by the increasing demand for advanced printing machines in emerging economies such as India and China. Additionally, strategic expansions of international players area also contributing to the growth of printing machines market in this regional segment.
Key players in the printing machines market are Bobst, Agfa, Canon, Goss International, Fujifilm, Heidelberg, KBA, HP, Xerox, Kodak, Konica Minolta, Komori, Ricoh, and Cerutti SpA.
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