According to the report from Industry Probe, the global industrial printer market is expected to expand at a CAGR of ~6% from 2019 to 2027 and reach a value of US$ 17.781 Bn by 2027.
New York, NY -- (ReleaseWire) -- 02/05/2020 --According to a new market report published by Industry Probe (http://www.industryprobe.com) titled 'Industrial Printer Market (Printer Type: Offset Lithography, Flexography, Digital Printer, 3D Printer, and Others; Substrate: Metal, Plastic, Paper, Ceramic, Fabric, and Others; and End Use: Aerospace/Automotive, Textile, Packaging Printing, Construction Material Printing, Signage & Labels, and Others) – Global Industry Trends and Forecast, 2020–2027' the global industrial printer market is expected to expand at a CAGR of ~6% from 2019 to 2027 and reach a value of US$ 17.78 Bn by 2027.
Rising Adoption of Flexible Packaging to Drive the Market
The major factors expected to drive the industrial printer market during the forecast period, according to the report, include growing usage of high-barrier plastic packaging materials, increase in processed & packaged food demand, and rise in adoption of flexible packaging and pouches across industries. Globally, the increasing consumer disposable income is predicted to drive the consumption of printed clothing, therefore complementing fabric segment growth. Additionally, in order to resist washing and friction, printed fabrics provide better bonding of color with fibers owing to this factor, the demand for industrial printers in the textile printing application is growing.
Soaring Growth of E-commerce Industry to Impact the Market Significantly
The report from Industry Probe mentions the additional drivers of the industrial printer market and these include middle-class population, increase in urbanization, rising disposable income and growing economies that are boosting the e-commerce industry across the globe. The demand for packaging applications is on the rise owing to the rapid growth of e-commerce companies such as Amazon, EBay, Flipkart, etc., thereby projecting a significant growth of the industrial printer market. Globally, the 3D printing sector is expanding at an exponential rate. Emerging economies, such as India, China, etc., are investing substantially on the 3D printing technology, which is expected to create growth opportunities for the manufacturers of industrial 3D printers during the forecast period.
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The Industry Probe's report states that the global packaging and printing industry is transforming, owing to the incorporation of digital printing. Additionally, changes in the way brands communicate with the consumers, strong growth of the e-commerce sector, and changes in the retail supply chain have increased the application of digital printing. Device processors and manufacturers in the region are prospecting how to realize new value through the personalization and customization of packaging, as packaging is becoming an important channel for brands to interact with consumers. Furthermore, increasing demand for food, beverages, and medicines are likely to drive the industrial printer market positively worldwide.
Asia Pacific Region to Offer Lucrative Opportunities for Manufacturers
As per the report, North America held a major share of the global industrial printer market in 2018, followed by Asia Pacific and Europe. The report projects that the Asia Pacific industrial printer market will offer lucrative opportunities for manufacturers of industrial printers during the forecast period. Economic growth of North America is driving the industrial printer market in the region. Additionally, the introduction of technologically advanced industrial printers, and increase in adoption of digital and 3D industrial printers are major factors propelling the industrial printer market in the region. Moreover, expansion of aerospace, electronics, and automotive industries in North America is offer a strong consumer base for electronic and automobiles gadgets, thereby driving the use of industrial printers in various applications.
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Asia Pacific is rapidly growing. Additionally, the region has some of the largest economies, including India, South Korea, Indonesia, Vietnam, Japan, and China. Global packaging companies are investing heavily in the region due to which, the industrial printer market in Asia Pacific is projected to grow rapidly during the forecast period.
The global industrial printer market is dominated by several players who are focused on the development of new products to cater to changing consumer preferences.
The report includes the below mentioned pointers of major players operating in the global industrial printer market:
-Market Share Analysis (2018)
-Business Strategies/Recent Developments
-Key mergers & acquisitions
Major Players Covered under the Scope:
-3D Systems Corporation
-SLM Solutions Group AG
-Heidelberger Druckmaschinen AG
-HP Development Company, L.P
-Seiko Epson Corporation
-Windmoeller & Hoelscher Corporation
-Honeywell International Inc.
-Konica Minolta, Inc.
-Zebra Technologies Corporation
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About Industry Probe
Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprises syndicated research, strategic consulting & advisory services, competitive intelligence, and full time engagement to bring true & actionable insights into our clients' business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
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