Printing Machine Market is Estimated To Witness High Growth Owing To Rising Demand For Digital Printing

Printing Machine Market


The Printing Machine Market is estimated to be valued at US$ 85.69 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:

Printing machines are used for printing purposes across various industries. The key types of printing machines include offset lithography, flexography, gravure, screen, and digital printing machines. Offset lithography printing machines provide high-quality prints at affordable costs and are widely used for books, brochures, and packaging. Digital printing machines offer on-demand and personalized printing and are gaining popularity.

Market key trends:

One of the key trends driving growth of the printing machine market is the rising demand for digital printing. Digital printing allows on-demand, customized, and short-run printing with no extra set-up costs. It enables print shops to diversify product offerings and stay competitive. Digitally printed products are increasingly replacing conventionally or traditionally printed products across various industries like publishing, packaging, and textiles. Digital printing facilitates sustainability through reduction in waste associated with conventionally printed products. Continuous technological advances are enabling digital printing machines to print on varied substrates like metal, glass, textiles, and ceramics, thereby expanding application scope. This increasing flexibility and application range of digital printing machines is boosting their adoption over traditional printing machines.

Porter's Analysis
Threat of new entrants: The high capital requirement for the establishment of new production facilities and R&D activities acts as a barrier for new entrants in the market.

Bargaining power of buyers: Buyers have high bargaining power due to the presence of numerous established vendors providing printing machines.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials and parts.

Threat of new substitutes: Threat from substitutes is moderate as digital printing is emerging as an alternative for traditional printing.

Competitive rivalry: Intense competition exists among the key established players.

SWOT Analysis
Strength: Well-established distribution network, product innovation, and technological advancements.

Weakness: High initial investment and maintenance costs.

Opportunity: Growth in the packaging printing industry and increasing demand for digital printing.

Threats: Volatile raw material prices and growing environmental regulations.

Key Takeaways
Global Printing Machine Market Demand is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing demand from the packaging industry. Rising demand for flexible packaging from the food and beverage sector is expected to drive the market during the forecast period.

Regionally, Asia Pacific dominates the global market and is expected to grow at the fastest pace during the forecast period due to the large packaging printing industry in China and India.

Key players operating in the printing machine market are Heidelberg Printing Machinery AG,Komori Corporation,Koenig & Bauer AG,Manroland Goss web systems,HP Inc.,Xerox Corporation,Canon Inc.,Ricoh Company, Ltd.,Epson,Konica Minolta, Inc. The major players are focusing on new product innovations to cater to increasing demand for digital and production printing machines. 

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