Major companies in the printing machinery and equipment market Canon Inc, Konica Minolta, Inc, Fujifilm Corporation, Heidelberger Druckmaschinen AG, Xerox Corporation, Ricoh Group, Koenig & Bauer AG, Dover Corporation, Agfa-Gevaert NV, and Komori Corporation.
The global printing machinery and equipment market is expected to grow from $46.58 billion in 2021 to $51.83 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The market is expected to grow to $76.34 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%.
The printing machinery and equipment market consist of sales of printing machinery and equipment by entities (organizations, sole traders, or partnerships) that produce printing and bookbinding machinery and equipment, such as printing presses, typesetting machinery, and bindery machinery.
The main types of printing machinery and equipment are typesetting machinery, offset printing machinery, flexographic printing machinery, gravure printing machinery, printing trades binding machinery and equipment, and other types.The typesetting machinery refers to the machine that is used for letterpress printing.
The various capacities include small, medium, and large.The various operations include autonomous, semi-autonomous, and manual.
These are used in packaging, publication, and other end users.
Western Europe was the largest region in the printing machinery and equipment market in 2021.Asia Pacific was the second largest region in the printing machinery and equipment market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rapid advances in technology are expected to drive innovation in printing machinery and equipment machinery manufacturing, thus driving the market during the forecast period.Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs, and higher margins.
For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on a company’s growth and 86% of respondents considered that AI will help improve productivity.Lower operating costs lead to higher margins, this allows companies to increase product portfolio and to enter new markets by making investments made through cost savings.
IoT applications are also being integrated into these devices to enable services such as remote monitoring, central feedback systems and to offer other services.Mobile applications, advanced sensors, and embedded software also created new opportunities for companies in this market.
These factors are expected to drive the printing machinery and equipment machinery manufacturing market during the forecast period.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the printing machinery and equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Manufacturers depend heavily on the supply of raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the printing machinery and equipment manufacturing market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Instant and on–the–go printing is one of the latest innovations in the printing machinery and equipment manufacturing market.On-the-go printing refers to the wireless connectivity in printers that enable the user to commence printing hassle-free by using the smartphone app.
This technology in printers encourages the next generation of young users to be more creative and accustomed to printer usage with technology. For instance, HP printers can be accessed through the HP Smart app without any computer or wired connections.
The countries covered in the printing machinery and equipment market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
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