Large Format Printer Market Expected to Exceed $13.70 Billion by 2030 with a 4.2% CAGR From 2021-2030
Large format printer market size was valued at $9.15 billion in 2020, is projected to reach $13.70 billion by 2030, grow a CAGR of 4.2% from 2021 to 2030.
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A large format printer is a machine, which enables to print materials between 12 and 100-plus inches and give a good range to create a variety of different promotional materials. These printers are durable and more powerful than traditional office printers. Large format printers are also designed for high-production capacity and offer rapid function compared to other types of professional-grade printers. Large format uses are very practical and their capabilities expand beyond posters. In addition to paper-based materials, some of these printers are designed to print on vinyl, wood, fabric, wallpaper, coated metal, ceramic, and foam.
In addition, advancements in technology across various components of printers such as ink and ink-level monitoring software have enhanced their efficiency and productivity. Nowadays, large format printers can help in creating outdoor signs, construction drawings, and blueprints. Some printers can print almost anything as long as the media fits within dimensions of printer hardware itself, therefore, such printers are used in sectors such as advertising, textile, and vehicle wraps.
The global large format printer market is segmented on the basis of offering, printing technology, print width, ink type, application, and region. By offering, the market is divided into printer, software, and service. By printing technology, it is divided into inkjet printing, and toner-based printing (laser systems). The inkjet printing segment is further sub segmented into thermal inkjet technology, electrostatic inkjet technology, crystal-based technology, and others. On the basis of ink type, it is segregated into aqueous, solvent, UV-curable, dye sublimation, latex, and others. Depending on application, it is divided into apparels & textiles, signage, advertising, décor, CAD & technical printing, construction, and others.
Based on offering, the printer segment held the highest market share in 2020, accounting for around three-fourths of the global large format printer industry, and is estimated to maintain its leadership status throughout the forecast period. This is due to its popular usage to print banners, posters, backdrops for theaters, constructional designs, and various other large-format artworks. Moreover, the service segment is projected to manifest the highest CAGR of 6.7% from 2021 to 2030.
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.
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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.
The key players profiled in the report include AGFA-GEVAERT (Belgium), Canon Inc. (Japan), Durst Group AG (Italy), Epson Corporation (Japan), HP Development Company, L.P. (U.S.), Konica Minolta (Japan), Mimaki Engineering (Japan), Ricoh (Japan), Roland (U.S.), and FUJIFILM Holdings Corporation (Japan). Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the large format printer market.
Key Benefits for Stakeholders:
• This study comprises analytical depiction of the global large format printer market outlook along with the current trends and future estimations to depict the imminent investment pockets.
• The overall large format printer market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and large format printer market opportunities with a detailed impact analysis.
• The current large format printer market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the large format printer market share of key vendors.
• The report includes the market trends and the revenue share of key vendors.
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