Ability To Produce Precise Reproductions Irrespective Of Design Complexity Drives Adoption Of Digital Textile Printing Equipment Market From 2018-2028
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The global market of digital textile printing equipment is estimated to be valued at US$ 563.0 Mn in 2018 and is further projected to grow at a value CAGR of 14.9% and attain a value of US$ 2,255.4 Mn by the end of the forecast period. Moreover, the digital textile printing equipment market is expected to create an incremental $ opportunity of US$ 1,692.4 Mn between 2018 and 2028.
East Asia Digital Textile Printing Market to Remain Attractive With a CAGR of 20.3%
The future outlook of the digital textile printing equipment market is expected to remain lucrative, owing to the healthy growth of the textile industry in various regions. The textile industry is a prominent industry in terms of historical growth outlook. Further, it is anticipated to grow with a similar growth pattern during the forecast period. Europe is estimated to dominate the global digital textile printing market in terms of revenue in 2018, and the trend is projected to continue throughout the forecast period. Further, the East Asia digital textile printing market is pegged to be attractive, with a CAGR of 20.3% over the forecast period. Additionally, China, India and Bangladesh are three emerging countries in the market witnessing healthy growth in terms of investments and adoption rate of digital textile printing equipment.
Need for Mass Personalization to Drive Demand for Digital Textile Printing
Digital textile printing enables precise reproductions irrespective of design complexity. It also allows flexibility in production setting, and optimization of economic and environmental impact. These advantages facilitate the move from mass production to mass personalization and, in turn, are expected to propel the demand for digital textile printing equipment in the future.
Digital textile printing equipment reduce textile waste as well as power consumption. Further, water wastage and ink consumption are also reduced by the use of digital textile printing equipment.
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Direct to Garment Segment and Sublimation Segment to Remain Attractive on Basis of Printing Type and Consumable Ink, Respectively
By printing type, the direct to garment segment is pegged to be lucrative in the global digital textile printing equipment market and account for significant demand over the forecast period. This can be attributed to the growing penetration of customer-specific product offerings in the digital textile printing equipment market. The segment is projected to grow at a value CAGR of 16.7% and reach a value of US$ 1,114.2 Mn by the end of 2028.
By consumable ink, the sublimation segment is projected to hold a prominent share in the global market for digital textile printing equipment, owing to the enhanced quality of the printed products and longer log life. Sublimation can only be used with polyester, which limits its usage for other materials. The segment is expected to create a total incremental $ opportunity of US$ 1,068.8 Mn in the global digital textile printing equipment market by the end of 2028.
Digital Textile Printing Equipment Market: Competitive Landscape
The global market for digital textile printing equipment is highly consolidated. Seiko Epson Corporation is a prominent player with nearly a 25% share in the global digital textile printing equipment market. Some of the key market players involved in the manufacturing and sales of digital textile printing equipment are Roland DGA Corporation, Seiko Epson Corporation, DCC Print Vision LLP, MIMAKI ENGINEERING CO.,LTD, Kornit Digital Ltd, Konica Minolota, Mutoh Holding, Dover Corporation, Shenzhen HOMER Textile Tech Co., Ltd., SPGPrints B.V., and Electronics for Imaging (EFI), Inc., among others.
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