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Evolving Market Trends In The Large Format Printers Industry: Innovative Technology Launches Drive The Large Format Printer Market
Large Format Printers
What Is the Expected Large Format Printers Market Size During the Forecast Period?
The market size of large format printers has seen a consistent increase over the past few years. Predictions indicate that it will expand from a worth of $9.58 billion in 2024 to $9.88 billion in 2025, with a compound annual growth rate (CAGR) of 3.1%. This growth from the historic period is a result of several contributing factors including the need for top-tier printing, growth of the advertisement and signage industry, interest in graphic arts and photography, the broad spectrum of compatible substrates, and development in textile and fabric printing.
In the coming years, the market for large format printers is projected to experience significant growth, with the market size predicted to reach $12.65 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.4%. This growth during the anticipated period is attributed to several factors such as the surge in promotional merchandise, the utilization of energy-efficient printing methods, the expanding usage in educational material production, continuous feed printing systems, and global economic recovery. Noteworthy trends expected in this period include the prevalence of digital printing, direct-to-object printing, the integration of 3d printing, automation and workflow solutions in printing, enhancements in print speeds and resolutions, and the adoption of environmentally-friendly printing practices.
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What Are the High-Growth Segments in the Large Format Printers Market?
The large format printers market covered in this report is segmented -
1) By Technology: Ink-Based Technology, Toner-Based (Laser) Technology
2) By Ink Type: Aqueous, Solvent, UV-Curable, Latex, Dye-Sublimation
3) By Application: Apparel And Textile, Advertising, Décor, CAD And Technical Printing, Other Applications
Subsegments:
1) By Ink-Based Technology: Aqueous Inkjet, Solvent Inkjet, Eco-Solvent Inkjet, UV-Curable Inkjet, Dye-Sublimation Inkjet
2) By Toner-Based (Laser) Technology: Color Laser Printers, Monochrome Laser Printers
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What Key Drivers Are Expected to Influence Future Large Format Printers Market Growth?
The burgeoning need in the textile, advertising, and packaging sectors is having a significant impact on the expansion of the large-format printer market. Large-format printers aid businesses in enhancing their branding and are beneficial in publicizing or introducing new products, ultimately expanding their customer reach. There has been a swift increase in the use of large format printers in the textile sector as textile printing has now become a fully automated belt-fed transport process. As stated by the India Brand Equity Foundation (IBEF), the projected value of the Indian textile market will exceed $209 billion by 2029. India's domestic textile exports witnessed a sturdy growth of 9% in 2021. Consequently, the escalating demand from the textile, advertising, and packaging sectors is likely to fuel the expansion of large-format printers in the near future.
Which Companies Hold the Largest Share Across Different Large Format Printers Market Segments?
Major companies operating in the large format printers market include Agfa-Gevaert N. V., Canon Inc., Durst Phototechnik AG, Seiko Epson Corporation, Xerox Holdings Corporation, Hewlett-Packard Development Company L. P., Konica Minolta Inc., Mimaki Engineering Co. Ltd., Mutoh Holdings Co. Ltd., The Ricoh Company Ltd., Roland DG Corporation, Fujifilm Holdings Corporation, Kyocera Corporation, Lexmark International Inc., Shenyang Sky Air-Ship Digital Printing Equipment Co. Ltd., SwissQprint AG, Oki Electric Industry Co. Ltd., Toshiba Tec Corporation, Brother Industries Ltd., Panasonic Corporation, Sharp Corporation, KIP Inc., Dilli Co. Ltd., ColorTrac Group, Neolt S. P. A, CET Color Inc., EFI Inc., Summa NV
What Trends Are Driving Growth in The Large Format Printers Market?
The introduction of new technologies in the vast field of large format printer manufacturing is seen as a pivotal trend, attracting the attention of numerous businesses within the sector. In an attempt to differentiate themselves in this competitive environment, companies are driven to unveil new products. Specifically, Canon Inc., a Japanese company specializing in medical equipment, cameras, multifunction office devices, laser and inkjet printers, and lithography equipment, launched the imagePROGRAF TZ-5320 and TX Series printers in September 2024. These printers are packed with innovative image processing technology and magenta ink, enhancing color reproduction and delivering stunning print quality even on standard paper. This makes them remarkably versatile, suitable for a range of printing tasks such as architectural and engineering designs. Among their notable features are increased productivity owing to high-speed printing, decreased downtime due to intelligent paper detection features, and a environmentally friendly design which lowers energy consumption and reduces plastic waste.
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What Are the Emerging Geographies for The Large Format Printers Market Growth?
North America will be the largest region in the large format printer market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the large format printers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Large Format Printers Market?
2. What is the CAGR expected in the Large Format Printers Market?
3. What Are the Key Innovations Transforming the Large Format Printers Industry?
4. Which Region Is Leading the Large Format Printers Market?
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Large Format Printers Market 2017
Market Research analysts forecast the global large format printers market to grow at a CAGR of 1.62% during the period 2017-2021.
The following companies as the key players in the global large format printers market: Canon, EPSON, HP, Mimaki, and Roland.
Other Prominent Vendors in the market are: Agfa Graphics, Konica Minolta, Kyocera, Lexmark, Mutoh, Ricoh, and Xerox.
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