For 2024, the net value of total industrial printers adopted across all countries is likely to be pegged at US$ 15,697.8 million. According to our global printer market analysis report, the demand for thermal printers worldwide is poised to grow at a rate of 5.5% till 2034. The report predicts the overall market value to reach almost US$ 26,814.1 million by the end of the forecast period.
Trends in the Industrial Printer Market
· Heavy-duty printing solutions make it possible to print informative, high-quality labels that enhance customer interaction and brand awareness in the retail sector.
· The beginning of Industry 4.0, or the fourth industrial revolution, and intelligent machine operation automation.
· An upsurge in logistics services and e-commerce websites or online retail services has increased the use of printed packaging.
Industrial Printer Market Analysis
According to our previous reports for commercial printer market size and industry share, industrial printer sales garnered a revenue of US$ 14,879.4 million in 2019. Over the succeeding five years, the sales of industrial printers were witnessed to have surged by a 4.8% growth rate per year. By the end of 2023, the overall market value for industrial printers was US $ 12,324.8 million.
Size and opportunities for the commercial printing market are rising with the worldwide movement toward automation after the adoption of Industry 4.0 concepts in production processes. Heavy-duty printing solutions are critical for printing barcodes, labels, and other critical data in an automated and networked production environment.
Factors to Decide on Growth Outlook for the Industrial Printer in the Global Market
Demand for accurate and quick labeling and large-scale printing solutions has surged due to the growing e-commerce industry and subsequent logistical operations. Industrial-grade printing technology has become critical for the production of shipping labels, tracking data, and other documents needed to keep supply chains running smoothly.
Printing of variable data such as batch numbers, expiration dates, and unique identification codes is now frequently needed for product labeling in almost all manufacturing sectors. Particularly for electronics, food & beverage, and pharmaceutical industries, multifunction industrial printers have become inevitable for accurate and efficient printing.
Country-wise Insights
The table below provides an overview of the expected growth rates in some top industrial printer manufacturing countries located in different geographical regions. The development of commercial printing equipment has aided manufacturers’ ability to readily integrate branding components and update information according to region specifics.
The United States to Focus More on the Advancement of Technology
Many leading global industrial-scale print technology players are located in the United States and are expected to drive the regional market at 3.2% CAGR through 2034.
The need for better adaptation and durability of printed labels is driving the country’s market to develop advanced printing technology for commercial uses. They can produce prints resistant to abrasion, chemicals, and extreme conditions and are ideal for operating in harsh industrial environments.
Germany Market is Evolving to Comply with EU Industry Standards and Regulations
Germany is the leading manufacturer and supplier of heavy-duty print equipment in Europe and could advance at 4.8% CAGR over the forecast years.
To adhere to European industry norms and regulations, many industries, including healthcare, automotive, and aerospace, have adopted strict labeling and marking requirements. So, the demand for robust printers for industrial use is now required more in Germany to guarantee correct labeling and tracing items throughout their lifespan.
Industrial Printers are Enhancing the Manufacturing Sector in China
The manufacturing capacity of industrial printers in China has increased manifold in the last few years and is expected to progress at 7% CAGR through 2034.
China has recognized the role of commercial printing systems in enhancing production processes and popularizing its end-use products in the global market. So, besides having enough demand for exports, the regional demand for robust industrial printers is set to advance the China market at a faster pace.
India is an Emerging Market for Global Industrial Printer Manufacturers
Over the next ten years, the demand for industrial-scale print technology in India is poised to rise at an impressive 7.9% per year.
Industrial printer manufacturers in India are hopeful after the surging demand for different printing technologies, including inkjet, direct thermal, and thermal transfer. To cater to the vast regional market, they are focused on the development of high-volume printing machines that can also provide higher print quality, quicker print times, and longer-lasting printed goods.
Competitive Landscape
The overall industrial printer market is gradually becoming competitive with the emergence of new market players in emerging economies. However, the competitive landscape for industrial printers has been transformed by the recent development of new technologies like RFID. Product tags are now printed more using radio-frequency identification or RFID printers, which improves inventory control and traceability.
Some new players are now integrating manufacturing execution systems (MES) or enterprise resource planning (ERP) with their industrial printers to gain a competitive edge. Connectivity with MES and ERP Systems streamlines data transmission to guarantee correct and up-to-date information on printed labels, ultimately further automating printing procedures.
Recent Developments in the Global Industrial Printer Market
In March 2023, Toshiba unveiled the first-of-its-kind industrial printer that prints packing lists and shipping labels on one dual-sided liner-less label concurrently. By doing away with the plastic bags and extra packaging slips and not generating any waste from label liners, this innovation can help businesses to operate more sustainably. With a substantial 3,000-label roll capacity and a 24-label per-minute delivery speed, it further boosts efficiency by decreasing downtime with fewer label roll changes. Furthermore, it offers a better user experience with a near-edge print-head design, a colorful and simple-to-use 10.1-inch LCD touchscreen control panel, and 203 dots per inch resolution.
In July 2022, Printronix, the top manufacturer of ruggedized industrial printing solutions, announced the introduction of two Printronix Industrial grade laser printers for the United States market. LP654C could be the world’s smallest industrial-grade Letter/A4 color printer and is equipped to produce full-color documents quickly and with excellent quality. It can also handle media weights up to 256gsm and lengths up to 52″/1.32m with a print rate of 35 pages per minute. Meanwhile, the LP844C is a new tabloid/A3 color printer that can print up to 36 pages per minute and is claimed to have the lowest footprint.
These insights are based on a report by Sabyasachi Ghosh Sports Medicine Market by Future Market Insights.