Electrical And Electronic

Global Large Format Printer Market

January 8, 2022
ID: SR/EE-06
Format:Pdf
Pages:220

Global Large Format Printer Market By Technology (Ink-based Technology, Toner-based Technology), By Offering (Printers, RIP Software, After-sales Services), By Ink Type (Aqueous, Solvent, UV Cured, Latex, Dye Sublimation), By Application (Apparel & Textile, Décor, Signage & Advertising, CAD & Technical Printing), By Print Width ( 17"-23", 24"-36", 44"-60", 60"-72", 72" and above), By Printing Material (Porous, Non-Porous), By Connectivity (Wired, Wireless), By Region (North America, Europe, Asia Pacific, The Middle East & Africa and South America)-Global Forecast to 2030.

Description

The globally large format printer market is estimated to reach USD 11.4 billion by 2030, growing at a CAGR of 5.4% from 2022 to 2030. It was valued at USD 8.8 billion in 2022.

The development of the large format printer market is mainly driven by large investments by companies and increased demand for large format printers for large-scale prints. Additionally, the high acceptance rate and technological advances also drive the growth of the large format printer market.

What are Large Format Printers?

The large format printers are operated to print out graphics; graphic designers, artists, architects and other creative professionals use roll-fed printers that use paper that’s on a continuous roll to print larger graphics like signs, vehicle wraps, and tradeshow graphics. Wide-format printers are operated toprint banners, posters, trade show graphics, wallpaper, murals, backlit film automobile image wraps, electronic circuit schematics, architectural drawings, building plans, backdrops for dramatic and media sets, and any other large-format painting or signage.

Growth Driver

The increase in the demand for Large Format Printers in fabric, advertisement, and packaging enterprises

Many companies are creating efforts to advertise their brands and grab customer engagement by enforcing outstanding outdoor advertisement ideas in the present competitive circumstances. Strong and engaging marketing materials boost the brand relationship and help boost sales. Marketers and advertisers choose materials with energetic colors and eye-catching pictures in the current digital world. Most promotions take just a few seconds to catch customer attention and bring a message.

Large format printers are operated to print outdoor promotions for a firm’s in-house marketing or an advertising company with numerous clients. Companies worldwide use extensive format printers to conduct appealing and colorful graphics for advertising pennants, posters, signage boards, billboards, and hoardings. Banners and billboards must consist of detailed and clear images of outstanding quality to entice engagement and maintain customers’ interest. Marketers use extensive format printers to print visually attractive campaigns, including posters and banner advertisements, with high-quality images in offices or public spaces. It allows marketing and advertising specialists to improve brand awareness and boost visibility for a product or service within a specific industry.

Opportunities

Increasing adoption of Large Format Printers in home furnishing, decor, and automobile wrap applications

Large format printers play an essential role and construct a lucrative and fast-growing component in the decor market. The capability to create higher-quality images and graphical representations than traditional printers is the primary advantage of these printers. In-home furnishing, décor, and automobile wrap applications, these printers deliver the optimum paper size and high image clarity needed to print on the end media efficiently. Large format printers efficiently help architects in printing layouts fast and accurately. For instance, when a contractor wants to produce a floor plan or an interior designer wants to represent a room-design concept, wide-format printers create images with effective, energetic colors and eye-catching graphics.

Restraints

High initial investments and running costs

Installation and keeping costs of large format printers demand high initial investments. Large format printing also affects the use of multiple printing materials. Similarly, annual electricity consumption by large format printers is high. The design elaborateness of these printers and the increased costs of inks are among the prominent factors responsible for the high running costs of large format printers. The companies in the advertisement sector, a major end-user of large format printers, are currently shifting their focus from traditional printers toward super-wide format printers, in case of which the associated costs are high. Thus, the requirement for initial investment is expected to hamper the growth of the large format printer market.

Pre-Covid-19 impact on global Large Format Printer Market

Before the covid-19 era, the large format printers Businesses might shy from the concept of financing in a large format printer because it’s a funds expense that they strongly consider would be sufficiently off spent elsewhere. However, these printers deliver fast for themselves. The benefits of investing in one of these devices: high-quality images. Large format printers are prepared to show specific detail in an engaging format—the Affordability and Think of all the money arriving from your functioning budget to outsource printing jobs. You can enormously cut down on printing costs by bringing your large-scale printing in-house. That is why the market for large format printers increases pre-covid-19.

Covid-19 impact on global Large Format Printer Market

The explosion of the COVID-19 pandemic showed the closure and shutdown of factories, warehouses, businesses, and institutes globally. It enforced other lockdown standards, including stringent social distancing norms, restricted travel, and limited entry to public spaces, restaurants, theme parks, cinema halls, and malls. Globally, most industries noticed disturbances in supply chain procedures and logistics-related services. Restricted consumer and corporate spending, lockdown measures, and supply chain disruptions impacted the large format printer market development. Due to the closure of multiple small and medium enterprises, logistic disruptions, lockdowns, and other trials due to the COVID-19 pandemic, the market is decreasing. The pandemic has forced governments worldwide to divert their emphasis and spending to healthcare. The need from end-users also decreased mainly during 2020.

Post Covid-19 impact on global Large Format Printer Market

The renewal of COVID-19 cases from time to time has left most businesses witnessing a lower-than-normal footfall of consumers, thus affecting revenues. As a result, the demand for large format printers has also stayed low. It has impacted the growth of the large format printer market in all the regions, especially the Asia Pacific and North America. However, the demand in the Asia Pacific is expected to bounce back with high demand due to its safety, eco-friendly nature, and fast printing, leading to a high growth rate in the region during the forecast period.

By technology segmental Analysis

One of the quick reasons for the higher growth rate of the market for inkjet printers is the increasing usage of inkjet comprehensive layout printers for technological and CAD printing applications. Traditionally, the architecture, engineering, and construction (AEC) industries have selected laser printers as these printers used lesser colors and guaranteed higher printing speed than inkjet printers. However, inkjet printer manufacturers have started delivering more rapid inkjet printers with lower running costs for extensive layout printing, showing the widespread adoption of inkjet printers in these industries. The decreasing need for toner-based printers substitutes these printers with inkjet printers due to their usefulness, such as lower cost and inadequate maintenance.

By Ink type Segmental Analysis

The large format printer market’s UV cured ink type segment is cast to hold a larger share. Though aqueous ink- and solvent ink-based printers have benefits in cost and overall picture grade, they also have certain disadvantages. Aqueous ink takes especially more time to dry and normally is not waterproof. In addition, this type of ink disintegrates when uncovered to UV light. Though waterproofed and can resist ultraviolet (UV) light, the solvent ink produces extremely harmful chemical fumes during the printing procedure and needs special ventilation.

On the contrary, UV cured ink has multiple advantages; this type dries almost instantaneously, is UV-resistant, and does not have any substantial environmental impact. Moreover, they can be involved in a range of uncoated and tough surfaces. UV cured ink is increasingly substituting solvent ink despite being costly because of its benefits noted above. Hence, the demand for UV cured ink is predicted to increase and hold the largest market share.

By Regional Segmental Analysis

The market in the Asia Pacific is predicted to grow at the highest CAGR during the forecast period. Most foremost providers of large format printers such as Canon and Epson are based in this region. Asia Pacific countries, especially India, Japan, and China, are anticipated to lead the large format printer market in the forthcoming years in adaptability and market size. The Asia Pacific is a supervisor in the textiles business. These nations include the highest number of textile printing owners and marketers and maintain the vastest base of textile manufacturers. The Asia Pacific Printing, Document Solutions and research explores the new possibilities in the print environment from smart scan/print devices and organized workflow benefits to 3D printing. This investigation provides insights into the potential invention that disrupt the traditional print hardware market in the Asia Pacific. In the acceptance of 3rd Platform technologies, especially on the cloud, Big Data, and mobility, end-users restart to consider and adopt new solutions to improve their workflow environment from the desktop to the industrial level.

Competitor Analysis

Companies include AGFA-GEVAERT, Epson, Canon, Cimpress, T-series, Hp Development Company, FUJIFILM holdings corporation, Ricoh, Xerox corporation are the key players in the global large format printer market.

Key Stakeholders

Market research and consulting firms
Investors
Research organization and consulting companies
Technology providers
Retailers
suppliers

Recent Development

In October 2021, Epson has declared its cooperation with Usain Bolt, a well-known sprinter and Olympic legend, to expand awareness about Epson’s cartridge-free EcoTank printers and their benefits in Europe.
In August 2021, Canon declared that it had signed an agreement with Cimpress. The one-time will supply digital printing presses and related technology to the latter’s businesses in different locations.
In July 2021, Epson has established a new T-series printhead. It is the first print head of the company with a built-in heater. It is utilized for UV applications.
In May 2021, HP declared the most delinquent addition to its HP Stitch portfolio to allow print service providers (PSPs) to diversify their soft signage and interior décor offerings and meet better demanding customer requirements.
In March 2021, Ricoh has established its high-speed, flagship all-in-one A3 black and white multifunction office printers (MFPs). The IM 7000 and IM 9000 multifunction products (MFPs) provide copy, print, and scan with optional fax functions.
In February 2021, HP presented a scope of renewed Latex large format print solutions to help PSPs diversify their offerings and assemble more challenging customer needs.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 3.85 Billion
The revenue forecast in 2027	USD 5.81 Billion
Growth Rate	CAGR of 5.4% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	AGFA-GEVAERT, Epson, Canon.Cimpress, T-series, Hp development company, FUJIFILM holdings corporation, Ricoh, Xerox corporation are the major companies.

Market Modelling

By Technology

Ink-based Technology
Toner-based Technology

By Offering

Printers
RIP Software
After-sales Services

By Ink Type

Aqueous
Solvent
UV cured
Latex
Dye Sublimation

By Application

Apparel & Textile
Décor
Signage & Advertising
CAD & Technical Printing

By Print Width

17”-24”
24”-36”
44”-60”
60”-72”
72” and above

By Printing Material

Porous
Non-Porous

By Connectivity

Wired
Wireless

By Region

North America
Europe
Asia Pacific
The Middle East & Africa
South America

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Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is the large format printer market?

What is the growth rate of the global large format printer market?

The globally large format printer market is estimated to reach USD 11.4 billion by 2030, growing at a CAGR of 5.4% from 2022 to 2030. It was valued at USD 8.8 billion in 2022.

What are the drivers for the global large format printer market?

The major driver for the global large format printer demand for large format printers in fabric, advertisement, and packaging enterprises.

Which region is expected to have the highest share in the global large format printer market?

The Asia Pacific is predicted to highest share in the global large format printer market during the forecast period.

Who are the key players in the global large format printer market?

Companies include AGFA-GEVAERT, Epson, Canon, Cimpress, T-series, Hp Development Company, FUJIFILM holdings corporation, Ricoh, Xerox Corporation are the key players in the global large format printer market.

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Global Large Format Printer Market

What are Large Format Printers?

Growth Driver

The increase in the demand for Large Format Printers in fabric, advertisement, and packaging enterprises

Opportunities

Increasing adoption of Large Format Printers in home furnishing, decor, and automobile wrap applications

Restraints

High initial investments and running costs

Pre-Covid-19 impact on global Large Format Printer Market

Covid-19 impact on global Large Format Printer Market

Post Covid-19 impact on global Large Format Printer Market

By technology segmental Analysis

By Ink type Segmental Analysis

By Regional Segmental Analysis

Competitor Analysis

Recent Development

Scope of the Report

Market Modelling

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