Press release
Digital Printer Market Expected to Grow at 6.3% CAGR, Reaching $45.41 Billion by 2032
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Sustainability has been a popular trend across the world over the past few years and is expected to only get significant over the forecast period. The demand for sustainable packaging is higher than ever before and the use of digital printers makes this possible at a reasonable cost. Hence, as demand for sustainable packaging and printing solutions increases, it is projected to drive the sales of digital printers through 2032. UV-curable inks are anticipated to be highly popular due to their eco-friendly nature and ability to protect against UV radiation that could harm the quality of prints.
Key Takeaways from Digital Printer Market Study
North America currently holds the largest share of the digital printer market, accounting for 32.7%, and this trend is expected to persist in the future. Following closely, Europe holds the second-largest market share at 29.6%. Looking ahead, digital fabric printing technology is anticipated to emerge as a dominant force in the market. Additionally, sustainable packaging is projected to significantly impact the digital screen printing market in the forecast period. These trends collectively indicate a substantial growth trajectory for the global digital printer market, with projections suggesting it will reach a valuation of US$ 45.41 billion by 2032. With North America maintaining its leading position, and innovations such as digital fabric printing and sustainable packaging gaining momentum, the digital printer market is poised for significant expansion in the years to come.
List of Key Companies Profiled in The Report:
Hewlett-Packard Development Company
Canon Inc.
Seiko Epson Corporation
Xerox Corporation
Ricoh Company Ltd.
Durst Phototechnik AG
Inca Digital Printers Limited
Others
How Will the Digital Printer Industry Perform on a Regional Level?
"North America Leads Global Digital Printing Business Landscape"
The North America digital printer market currently accounts for a major market share of 32.7% and is valued at US$ 8.06 billion in 2022. Increasing focus on sustainable packaging, rapid adoption of novel printing technologies, presence of key digital printing companies, and increasing adoption of digital printers in the textile industry are major factors that influence the digital printer market potential over the coming years.
Increasing advancements in nanotechnology are projected to drive the growth of nano-graphic printing technology in this region. High investments in research and development of novel printing technologies are also projected to favour digital printer market growth.
Demand for digital printers is anticipated to soar high in the region of Europe owing to the presence of key packaging companies and increasing focus on sustainability. Germany, France, Italy, and the U.K. are anticipated to lead the growth in this region through 2032.
In 2022, the Europe digital printer market stands at a value of US$ 7.29 billion and holds a market share of 29.6% in the global industry. The demand for UV-curable inks is anticipated to be high in this region owing to their eco-friendly nature and low cost.
Competitive Landscape
Anticipated in the digital printer manufacturing sector is a strategic focus on mergers, collaborations, acquisitions, and partnerships, serving as key mechanisms to broaden business horizons and fortify market presence across diverse regions.
A notable instance occurred in 2021 when Canon, a prominent Japanese multinational conglomerate, disclosed its acquisition of Canada-based Redlen Technologies. This strategic move empowered Canon with access to advanced AI-imaging technology and cutting-edge radiation detection capabilities, areas of specialty for Redlen. Such acquisitions underscore the industry's commitment to enhancing technological prowess and expanding market influence through strategic partnerships.
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Key Segments Covered in Digital Printer Industry Research
by Product Type:
Inkjet Printers
Laser Printers
by Ink Type:
Aqueous Inks
Solvent Inks
UV-curable Inks
Dye Sublimation Inks
Latex Inks
Others
by Region:
North America
Latin America
Europe
APAC
MEA
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About Fact.MR:
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.
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