Industry News

A Net Increase of 20%! ThisYear, the Global Printing Equipment Market Will Reach US $15.86 Billion

Date of Issue:2022-06-20

 

The International Market Research Institute and Smithers peel Research Institute recently released the latest research report "the future of the printing equipment market by 2026", which conducted in-depth research on the key parts and geographical regions of the growth of the printing equipment market, and studied and analyzed the impact of the COVID-19 epidemic on the market in the next five years.

The report shows that due to the impact of COVID-19, the scale of the global printing equipment market in 2020 decreased by nearly 24% over the previous year. In 2021, the global printing equipment market will reach US $15.86 billion, an increase of nearly 20% over 2020. It is estimated that the global printing equipment market will reach US $15.75 billion by 2026.

The digital printing equipment market will grow in the third quarter.

1. Rapid recovery of digital devices

With the economic recovery and the adoption of control measures for the COVID-19, the potential demand accumulated in the global printing equipment market will be gradually released. It is expected that the sales of printing equipment will recover in 2021.

In the post epidemic era, as more and more consumers choose to obtain content online, the commercial printing and publishing printing market, which had declined before the outbreak of COVID-19, will further accelerate the decline under the impact of the epidemic, which is irreversible. Therefore, the printing volume will decrease.

But at the same time, digital printing will benefit from its small batch, personalized advantages and variable data capacity, so as to create a new market. It is expected that the digital printing equipment market will continue to grow in the third quarter of 2021.

Among them, as one of the segments with a relatively heavy market share of digital printing equipment, wide format digital printing equipment suffered a blow. As it is mostly used for marketing, with the cancellation of offline activities during the epidemic period, the sales volume of retail advertising decreases, retailers close stores, etc., which reduces the application of the device. Although the printing volume of signs related to the COVID-19 has increased, and the application of wide format digital printing equipment has seen a short-term growth, compared with the overall downturn, the growth is limited and not significant.

According to the report, affected by the economic downturn in 2020, the income of digital printing equipment manufacturers decreased, and the investment in new product development decreased accordingly. Before the outbreak of COVID-19, printing equipment manufacturers were accelerating the development of high-speed inkjet printing machines. They had previously said that they would release new products at the 2020 drupa printing exhibition. However, due to the postponement or even cancellation of drupa printing exhibition, many new printing systems and technologies have not been released yet.

From the perspective of regional development of global printing equipment, Asia is a growing region.

2. Strong growth in Asia

From the perspective of regional development of global printing equipment, Asia is a growing region. It is estimated that the sales of printing equipment in Asia will reach US $6.16 billion in 2021, accounting for the largest share in the global printing equipment market. This represents an increase of 0.3% over the CAGR in 2016.

Among the Asian markets, China is the largest printing equipment market, accounting for more than 46% of the sales of printing equipment in Asia in 2021. In the past five years, the compound annual growth rate of China's printing equipment market was 2.0%.

In contrast, Japan's CAGR has decreased by 2.9% in the five years to 2021, but it is still the second largest printing equipment market in the region, and the sales of printing equipment will account for 23% of the region in 2021.

India is the third largest printing equipment market in the region, with a CAGR of 0.8% from 2016 to 2021.

In the global sales of printing equipment, Western Europe and North America rank second, both of which are relatively mature markets. In the past five years, the market size has decreased. The compound annual growth rate of printing equipment market scale in Western Europe decreased by 3.1%, while the sales of printing equipment in North America decreased by 2.6% from 2016 to 2021.

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