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The large format printer market is estimated to grow by USD 1.44 billion at a CAGR of 3.62% between 2022 and 2027. Market growth is influenced by various factors, such as the increasing adoption of UV-curable ink due to its environmental benefits and fast curing times. Additionally, the declining average selling price (ASP) of large-format printers (LFPs) has made them more accessible to a wider range of businesses. Furthermore, the automotive wrap films market is experiencing growth driven by factors like the ability of wraps to protect a vehicle's paint and increase its resale value. These trends indicate a positive trajectory for the market in the coming years. Moreover, the demand for UV-curable ink is propelled by its ability to offer high-quality prints on various substrates like paper, plastic, and metal. The declining ASP of LFPs has encouraged more businesses to invest in these printers, driving the demand for UV-curable inks. Additionally, the automotive wrap films market is witnessing growth due to the increasing trend of vehicle customization and the protective properties of wraps against scratches and UV rays.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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This report extensively covers market segmentation by technology (aqueous, solvent, UV-cured, and latex), type (ink-based and toner-based), and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
The market share growth by the aqueous segment will be significant during the forecast period. Aqueous large format printer uses water-based ink for printing. Several buyers are shifting toward aqueous ink LFPs from solvent ink LFPs to reduce the environmental hazards caused by solvents.
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The aqueous segment was valued at USD 3.05 billion in 2017. Aqueous ink LFPs offer high standards of print quality with better efficiency compared with solvent inks. Aqueous ink producers have designed a new ink formulation that can improve color quality and short-term outdoor durability. Aqueous ink-based LFPs are preferred for professional photography, short-term outdoor banners, and indoor and outdoor signage. These inks are cost-effective and easy to manufacture. However, it is mandatory to laminate aqueous ink for water protection. The ink also fades very quickly when exposed to sunlight or installed in an outdoor environment. Such factors will fuel the growth of the market in focus during the forecast period.
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APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The laser printer market in APAC is expected to grow during the forecast period. One of the major reasons for the dominance of APAC is the presence of major laser printer manufacturers in the region. These companies have a strong presence in major geographies, including China, India, and Japan. The intense competition in the market has resulted in a decline in the ASP of laser printers in APAC, which is positively driving the market growth. A
Another factor for growth in APAC is the increased adoption rates of direct-to-fabric printers combined with the promising growth of the textile industry, and this is expected to drive the market in this region. The rising demand for printers in APAC attracted many companies to expand their presence in the region. For instance, in 2020, FUJIFILM India announced the launch of Acuity Ultra, a new superwide format system. It is a UV-curable roll-to-roll printer that uses Uvijet GS ink and is free from chemicals. Its unique features render the printer highly efficient, starting with the quick setup of the material to clever vacuum control, and operation through newly developed output software. Factors like this will positively impact the large format printers market in APAC during the forecast period.
The market caters to a wide range of industries and applications, including printing facilities, the textile industry, and the packaging industry. These printers are essential for producing rolls, banners, posters, car wraps, and murals, used in various advertising campaigns and media. They are also utilized for creating hoardings, signage, and trade fair graphics. The market includes printers that use UV-curable ink, dye sublimation ink, and other advanced technologies for printing on diverse print materials such as wallpapers and vehicle images. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing resale value of automobiles is notably driving the market growth. Car depreciation is one of the biggest challenges faced by car owners. The appearance of a car is a crucial factor affecting its resale value. Car covers protect the exterior from harsh environments and hide dents and scratches. In addition, they protect the vehicle from stone impacts and small scratches.
These covers can be easily removed when the goal is achieved and improve the physical appearance of the vehicle, which is crucial for resale. With a small investment, vehicle owners can get a good return value for their cars. Hence, wraps are becoming more popular among such vehicle owners, leading to market growth. This includes UV-curable inks, inkjet printers, print materials, wallpapers, and vehicle images. This will increase the demand for car covers, which will increase the demand for LFP during the forecast period.
Reduction in the use of ink in LFPs is an emerging trend in the market. Reducing LFP ink is another trend to improve the performance of these printers. In the past, for example, there was intense competition between suppliers such as HP and Mimaki for the amount of ink used in printing. Ink use can be reduced by using percentages of water-based vehicle ink to reduce the amount of ink used in various applications.
Inkgard is one such software that helps you save ink by adjusting the savings amount based on the type of job. For example, for a high-color print, the user can set the savings to 20% and this will signal the printer that a drop or dot will spread the color over the area, reducing color overlap. On average, an LFP ink cartridge can last up to 500 pages, but by monitoring and adjusting the printer's ink levels, ink cartridges can last more than 500 pages. It also helps reduce costs by saving ink cartridges. Thus, cost savings resulting from ink cartridge savings are expected to support market growth during the forecast period.
The emergence of digital substitution is a major challenge impeding market growth. Digital replacement is growing fast and shrinking the print market. From 2021, most of the work that used to be done with printers is being done online. Posters and banners are digitized. This substitution is done because it is less time-consuming, cheap, and fast.
In addition, as the online shopping and advertising market grows, the print market is also losing its share. Advertisers used to spend money on printing brochures, paper ads, posters, and banners, but now most of the advertising is done through television or projectors, which are used instead of banners or posters, which hinders the adoption of LFP. Such factors hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Large Format Printers Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Seiko Epson Corp. - The company operates under multiple segments including printing solutions and visual communications among others, with a high focus on printing solutions.? The company under this segment includes office or home inkjet printers, serial impact dot matrix printers, page printers, color image scanners, dry process office papermaking systems, commercial and industrial inkjet printers, printers for use in POS systems, inkjet printheads, printer consumables, personal computers, and others. The company's key offerings include large-format printers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market caters to diverse industries like advertising, food and beverage, electrical and electronic, and furniture, offering solutions for building wraps, short-run packaging, and mobile advertising. It thrives on digital advertising mediums and printer technology advancements, including CAD printers and toner printers. The market extends to architectural drawings, event photography, and vehicle wraps with UV curing and aqueous inkjet printers. Dye-sublimation and UV-curable inkjet printers are crucial, meeting demands for vehicle images, decorative prints, and home furnishing applications. The market's growth is driven by large and small-medium businesses, balancing initial investments and operating costs.
The market serves various sectors like the advertising, food and beverage, electrical and electronic, leisure, and furniture industries, enabling digital advertising through mediums like large-format printer software and UV-curable inkjet printer. It supports laser printing and inkjet printers for vehicle images, dye-sublimation printing, and photo booths, using dye sublimation and sublimation inks. Businesses, both Large and small medium businesses benefit from solutions like vehicle wraps, digital prints, and custom items like curtains, wall hangings, cushions, and bed covers for the decorative market. Advanced printing technology offers versatility in print width, catering to various applications.
Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.62% |
Market growth 2023-2027 |
USD 1.44 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.74 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 55% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agfa Gevaert NV, ARC Document Solutions Inc., Canon Inc., Durst Group AG, Electronics For Imaging Inc., Fujifilm Corp., Hewlett Packard Enterprise Co., Konica Minolta Inc., KYOCERA corp., Lexmark International Inc., Mimaki Engineering Co. Ltd., MUTOH INDUSTRIES Ltd., Oki Electric Industry Co. Ltd., Roland DGA Corp., Seiko Epson Corp., Shenyang Sky Air Co. Ltd., Sony Group Corp., swissQprint AG, Xerox Holdings Corp., and Ricoh Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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