The global printing machinery market is poised for substantial growth, with projections indicating a rise from USD 22.8 billion in 2023 to an impressive USD 38.6 billion by 2033. This expansion, occurring at a CAGR of 4.7%, is fueled by several key factors driving the market forward.
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Core Concepts in the Printing Machinery Industry
- Current Market Size (2023): The market is estimated to secure a valuation of US$ 22,814.9 million.
- Expected Market Size by 2033: The global market size is expected to reach US$ 38,572.8 million by 2033.
- Growth Potential: The market is projected to grow at a CAGR of 4.7% through 2033.
- Latest Trend: The latest trend in the printing machinery industry is the integration of recent technologies like big data analytics and 3D printing.
- Future Growth in India: The future growth of the printing machinery market in India is expected to be at a CAGR of 7.6%.
Key Market Drivers:
- Surge in Demand for Offset Printing: Offset printing remains a staple for various applications, including books, marketing materials, packaging, legal forms, documents, catalogs, brochures, and calendars. The heightened demand for offset printing is a significant driver for the printing machinery market, necessitating advanced machinery to meet the increasing needs.
- Booming Food and Beverage Industry: The rising demand for processed foods has escalated the need for detailed printing on packaging, showcasing nutritional profiles, prices, and ingredients. This surge in demand directly propels the requirement for sophisticated printing machinery.
- Rapid Growth of E-commerce: The expansion of the e-commerce sector has significantly increased the circulation of printed packaging in the economy. E-commerce platforms and brands leverage printed packaging to promote their businesses, driving robust demand for printing machinery to support this trend.
- Rising Demand for Commercial Printers: High-quality commercial printers are essential for producing outdoor billboards, posters, adhesive wall/floor prints, and bespoke packaging. Manufacturers and designers in the signage and packaging industries rely on advanced printing machinery to create desirable products.
Impact of Digital Printing Technology:
- Advantage Over Conventional Printing: Digital printers offer numerous advantages over traditional printing technologies, including the ability to print on various substrates such as aluminum, glass, and wood. This trend is anticipated to create opportunities for non-label printing options in the future.
- Tailor-Made Market Solutions: Digital printing technology, with inks specifically designed for digital presses, allows converters and print service providers (PSPs) to meet the high-impact packaging requirements of their clients. The convenience and faster turnaround time offered by digital presses have led to their widespread acceptance in the prime labels market. This has also generated vast prospects for digital ink manufacturers.
APEJ and North America – Leading Markets for Printing Machines
Regional analysis and forecast, developed in the study, projects that the printing machines market in North America and Asia-Pacific excluding Japan (APEJ) region will register impressive growth. By 2017-end, the printing machines markets in these regions are expected to be worth over US$ 4 Bn individually. North America is anticipated to record higher sales of printing machines due to booming packaging businesses in the US and Canada, while the APEJ printing machines market will be characterized by mass-scale production of printing machines at affordable costs.
Global Printing Machines Market: Additional Forecast Highlights
The report has further revealed that:
- In 2021, paper and paperboard will be the leading type of substrate used in printing machines. Revenues procured from sales of paper and paperboard substrates for printing machines is estimated to net over US$ 8 Bn in global revenues by the end of 2021.
- Packaging is expected to be the leading end-use industry for printing machines, accounting for nearly half of the global market value in 2021 and beyond.
- Throughout the forecast period, printing machines will be predominantly used in packaging and labelling applications.
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Printing Machinery Market by Category
By Product Type:
- Offset Lithography
- Flexography
- Screen
- Gravure
- Letterpress
- Digital
- Others
By Substrate Type:
- Plastic
- Paper & Paperboard
- Metal
- Other Substrates (Wood, Glass, Fabric)
By Application:
- Packaging & Labels
- Books
- Newspaper & Magazines
- Commercial Printing & Others
- Advertising
- Office Stationaries
By End Use:
- Commercial
- Publication
- Packaging
By Region:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific
- The Middle East & Africa
