Global large format printer market to reach USD$13.7bn by 2030. Growth in the popularity of dye-sublimation printing, a rise in the adoption of UV-curable inkjet printers, and an increase in use of large format printers in textile and advertising industries are driving the growth of the global large format printer market, according to new research.
The global large format printer industry generated $9.15 billion in 2020, and is anticipated to generate $13.7 billion by 2030, with a compound annual growth rate (CAGR) of 4.2% from 2021 to 2030, according to a report by Allied Market Research, titled, "Large Format Printer Market by Offering (Printer, Software, and Service), Printing Technology (Inkjet Printing and Toner Based Printing (Laser Systems)), Print Width (11" TO 24", 24" to 36", 34" TO 44", 44" to 60", 60" to 72", and above 72"), Ink Type (Aqueous, Solvent, UV-Curable, Dye Sublimation, Latex, and Others), and Application (Apparels & Textiles, Signage, Advertising, Décor, CAD & Technical Printing, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.”
Prime Determinants of Growth
Growth in popularity of dye-sublimation printing, rise in adoption of UV-curable inkjet printer, and increase in use of large format printers in textile and advertising industries drive the growth of the global large format printer market, the report said.
“However, high initial investments and operating costs hinder the market growth. On the other hand, increase in adoption of large format printers in vehicle wraps and home furnishing applications presents new opportunities in the coming years.
Covid-19 Scenario
“The outbreak of the Covid-19 pandemic led to global lockdown and temporary closure of manufacturing facilities, which hampered the growth of the global large format printer market. Furthermore, the pandemic disrupted the whole supply chain and created shortages of materials, components, and finished goods. Nevertheless, the market is going to recover once the lockdown gets completely over.
The Solvent Segment to Maintain Its Lead Position During the Forecast Period
“Based on ink type, the solvent segment accounted for the largest share in 2020, contributing to nearly one-fourth of the global large format printer market, and is projected to maintain its lead position during the forecast period. This is owing to its ability to adhere to non-absorbent materials. However, the UV-curable segment is expected to portray the largest CAGR of 7.7% from 2021 to 2030, owing to changing environmental regulations, growing awareness, and increased focus on improving safety of packaged foods.
Signage to Maintain Its Dominance By 2030
“Based on application, signage segment held the highest market share in terms of revenue in 2020, accounting for more than one-fifth of the global large format printer market. Signage is the most effective medium of marketing, which adopts demand for large format printers in various uses such as indoor and outdoor signage to show warning signs on highways and roads, large corporate emblems, and retail promotional advertisements. Moreover, the décor segment is expected to witness the fastest CAGR of 6.7% from 2021 to 2030. This is because homeowners and businesses look to enhance and customize their homes, workplaces, and brands."
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Allied Market Research (AMR) is a market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon.
