Digital Textile Printing Machine Market Expected to Reach $1,248 Million, Globally, by 2024, by Key Market Players Durst Group, Electronics for Imaging (EFI), Inc., Konica Minolta, Kornit Digital, Mimaki, ROQ International, Sawgrass Technologies, Inc., Se
A report on “Digital Textile Printing Machine Market: Global Opportunity Analysis and Industry Forecast, 2017-2024”, the digital textile printing machine market is likely to amass $1248 million by 2024 from $647 million in 2017, growing at a CAGR of 10.0% through the forecast period, 2017-2024.
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The growth of the digital textile printing market is owed to factors such as growing demand for personalized and customized products, surge in consciousness towards fashion among consumers, and the benefits offered by digital textile printing machine such as higher creativity, increased design flexibility, improved sustainability, and eco-friendly printing methods. Nonetheless, factors such as never-ending competition from traditional printing methods and harmful effects associated with digital textile printers pose as restraints for the market growth. On the other hand, high speed of producing products as well as continuous inflow of innovative design offerings by the textile & fashion designers using digital textile printing machines provide potential opportunities for the growth of the industry.
Digital textile printing machine is a mechanical machine that prints graphics or designs directly on the fabric using computer software and inkjet technology. There is an increase in demand for the machine, owing to the increase in demand for fast and short run products, rise in sales of clothing and homecare products through e-commerce, and growth in its applicability in the lifestyle, promotional, and advertisement products. In addition, huge benefits offered by the machines and increased awareness about eco-friendly products are expected to propel the market growth. However, enduring competition from traditional textile printing machines pose a threat to the market growth.
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The clothing & apparel has the largest market share in the digital textile printing machine market during the forecast period. Its market share is expected to grow because of the new varying fashion trends, and increased demand for branded clothing by consumers. Furthermore, others such as industrial furnishing, corporate furnishing, and packaging in the application segment is expected to grow at the highest CAGR during the forecast period, owing to rise in demand for automotive textiles, packaging of products, corporate furnishing, and event management shows.
The key players profiled in this report are Durst Group, Electronics for Imaging (EFI), Inc., Konica Minolta, Kornit Digital, Mimaki, ROQ International, Sawgrass Technologies, Inc., Seiko Epson, SPG Prints B.V., and The M&R Company.
Key Findings of the Digital Textile Printing Machine Market:
• By process type, the direct-to-fabric segment dominated the market in 2017, in terms of revenue and is projected to grow at a CAGR of 9.7% during the forecast period.
• The clothing & apparel segment generated the highest revenue in 2017 and is estimated to grow at the growth rate of 8.9%.
• In 2017, Europe was the dominant region in terms of revenue; however, Asia-Pacific is anticipated to grow at the highest CAGR in the market.
• In Europe, Italy accounted for more than one-fourth of the market share in 2017.
Digital textile printing machine technology has been implemented widely over the years in applications of clothing & apparel. The demand for direct-to-garment (DTG) printers has increased due to customization of textile products. This increases its application in household furnishing and lifestyle products. The rise in sales of e-commerce products, improvement in standard of living of people, and growth in adoption of ongoing fashion trend products by people fuel the digital textile printing machine market.
Market players have developed new ways to reduce consumption of power & inks, and to offer high productivity in lesser time. The digital textile printing machine ensures large range of design patterns & color choices to be printed on wide variety of fabric material, which makes it an ideal selection for application in fashion & interior decoration. Moreover, the products produced using these machines are quite affordable as well as environment friendly, as it uses less power & ink. For instance, Aurajet, a dye sublimation digital textile printer by ColorJet India Ltd. offers low ink usage, vibrant color variety, and huge production runs, and hence, is utilized widely in countries such as India, Australia, Saudi Arabia, Sri Lanka, and others thus, driving the market growth.
Growth in demand for advertisement products for branding of companies and events, and the advantages associated with the usage of digital textile printing machines drive the market growth. The development in the fashion industry is expected to propel the growth of the digital textile printing machine market.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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