Inkjet Printers Market, Inkjet Printers
The Inkjet Printers Market is on a trajectory of significant growth, with an expected valuation of $59.1 billion in 2023. The eCommerce market, which is booming, will expand at a CAGR of 6.7% between 2023 and 2033. This market’s total value is expected to reach approximately $113.1 Billion. The growing demand for UV-curable pigments is a major factor in this growth. This trend is particularly evident in applications such as signage, graphics and packaging.
Inks that cure under UV light offer many advantages and are revolutionizing this industry. The rapid drying of UV-curable inks ensures that high-speed printing is possible without compromising on quality. These inks have a high level of durability. They are resistant to fading and water damage. This makes them perfect for prints that last even in harsh environments. UV-curable UV inks are also versatile in their ability to adhere to various substrates.
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The global inkjet printers market is expected to be valued at over US$ 52.1 Billion in 2022 and is expected to procure significant market value during the forecast period. The market is expected to grow at a 6.5% CAGR from 2022-2028.
Inkjets are non-contact printing devices that use a jet to propel ink onto a substrate. Inkjet printers use digital control to operate the nozzle. Different inkjets are used depending on the application. Institutions like schools, offices and colleges use single and multifunctional inkjet printing devices. Posters and photos are printed on large format inkjets. Inkjet industrial printers are used to print labels, code, and mark packaging. Inkjet printers are designed for large-scale printing of books, magazines, and catalogues.
FMI’s report suggests that the multi-functional and larger format inkjet segments will play a key role in driving the demand for inkjets over the forecast period. Due to their low investment costs and high quality prints, inkjet printers are expected to be preferred over laser printers in many developing countries.
APEJ should lead global growth for inkjet printers. Inkjet printers are expected to grow in this region due to the presence of rapidly emerging economies, the increasing standard of living, and the large population of urban areas. Multifunctional inkjets printers will have the largest share of the inkjet market in the APEJ region, according to FMI. This is due to their versatility and the increased penetration of these printers into offices, schools and colleges. China is expected outpace all other countries for growth in inkjet printing market in APEJ.
North America, and Western Europe are expected to experience stagnant growth as the inkjet market matures in both regions. In North America, the US and Germany are projected to hold the largest share of the market due to the preference for inkjets among consumers. The largest growth is expected to be in large format inkjets in the region, due to the trend of using large format printers to print posters for advertising and professional photos.
Latin America and MEA will be the most promising markets for global inkjet printing. Inkjet printers are becoming more popular in end-user industries in North Africa and Latin America. Argentina and Mexico will be the most promising emerging economies. Paper segment is expected to be the largest segment in the inkjet market in Latin America and MEA, due to higher consumption of copy papers.
Japan has a much smaller share of the global market for inkjet printers. Japan-based firms such as Seiko, Epson, Canon, and Brother Industries Ltd. have combined to own the largest share of the global market for inkjet printers.
Companies that manufacture inkjets are focused on improving the ink-carrying capacity of their printers, and increasing their global footprint via acquisitions and expansions. Inkjet printer manufacturers are likely to focus their attention on the lucrative Asia Pacific region in the upcoming years. In these countries, mass urbanization, combined with an improved standard of living, will be a key driver behind the growth in demand for printers.
Inkjet, Inc., Domino Printing Sciences plc, Markem Imaje Corporation, Videojet Technologies, Inc., Canon Inc., Brother Industries, Ltd., Xerox Corporation, Hitachi Industrial Equipment Systems Co., Ltd, Lexmark International Inc., are some of the key players that have been considered in this report.
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Inkjet Printers by Category
By Printer Type
Single-function Printers
Multi-functional printers
Large Format Printers
Industrial Inkjet Printers
Textile Inkjet Printers
Inkjet Press
By Technology Type:
Continuous Inkjet
Drop on Demand
Thermal DOD
Piezoelectric DOD
Substrate
Plastic
Metal
Paper
Fabric
Ceramic
You can also find out more about Other
By End-use Industry:
Consumers are able to buy products at a lower price.
Institutional
Industrial
Packaging
Publishing
Photo
Textile
Advertisement
By Region
North America
Latin America
Eastern Europe
Western Europe
APEJ
Japan
Middle East & Africa (MEA)
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Future Market Insights, Inc., (ESOMAR-certified, Stevie Award winner, and member of the Greater New York Chamber of Commerce), offers deep insights into what is driving the demand on the market. FMI is the world’s leading provider of market information, advisory services and consulting for the Packaging and Food and Beverage industries, Consumer Technology, Health Care, Industrial and Chemicals. FMI has a team of more than 5000 analysts in over 110 countries. They provide global, regional and local expertise across diverse domains.
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