[165 Pages Report] The large format printer market is projected to grow from USD 9.3 billion in 2020 to USD 11.2 billion by 2025; it is expected to grow at a CAGR of 3.8% from 2020 to 2025. Key factors fueling the growth of this market include surging demand for large format printing in the textiles, advertising, and packaging industries; growing adoption of UV-curable inks in outdoor advertising, CAD, and technical printing applications; and the increasing importance of digital document production in commercial printing applications.

Attractive Opportunities in Large Format Printer Market

COVID-19 Impact on the Global Large Format Printer Market

The large format printer market includes major Tier 1 and 2 suppliers like Hewlett Packard, Canon, Epson, Mimaki Engineering, Roland, Ricoh, Durst Phototechnik, Xerox, Konica Minolta, and Agfa-Gevaert. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. The large format printers manufactured by these companies are used by end-use industries such as apparel and textiles, signage, advertising, decor, and CAD and technical printing. Covid-19 not only impacted the operations of the various printing equipment manufacturing industries, but also affected the businesses of companies from the above-mentioned industries. The COVID-19 has also impacted the demand side of the market. The pandemic scenario due to COVID-19 has lowered the demand for apparel and textiles from the customers due to low spending power and reduced investment in lifestyle needs. This has declined the demand for large format printers from apparels and home decor applications. Also, the continuous fall in the global demand and export shipments for home decor products is also expected to negatively impact the large format printer market.

Large Format Printer Market Dynamics

Driver: Growing adoption of UV-curable inks in outdoor advertising, and CAD and technical printing applications

UV-curable inkjet printing technology has transformed the large format printing market. It offers direct-to-rigid print capability, thereby eliminating mounting and trimming costs. The UV-curable ink provides various other benefits, such as high-quality images and improved productivity; it also saves time and operating costs. Additionally, UV-curable ink technology does not require coated media as it can print on any substrate, such as foam board, wood, cardboard, glass, and vinyl. This ink dries as soon as it is cured; this has resulted in the higher adoption of UV-curable inks in various industries for printing purposes. Thus, UV-curable inks are ideal for a wide range of large format indoor and outdoor applications, including billboards, banners, indoor signage, window graphics, and posters.

Restraint: Growing popularity of digital advertising media

The growing popularity of digital media, including digital signage and advertisements, is expected to reduce the demand for print in certain categories, particularly directories, advertisements, and others. Digital signage, billboards, and other media are increasingly being used in the outdoor and indoor advertisement industry. Digital signage is a part of out-of-home advertising and can be of different types. It can be a backlit display showing ads, LCDs, or indoor signage used at point-of-purchase (PoP)/point-of-sale (PoS) platforms. Digital signage is used for a wide range of applications, such as providing public information, displaying the menu, advertising, brand building, as well as for influencing customer behavior, and enhancing customer experience. Advertising using large format printers incurs high costs and allows static information display only; all these factors pose a challenge for the players in the large format printer market.

Opportunity: Growing adoption of large format printers in home furnishing & decor and vehicle wrap applications

Large format printers play a vital role and form a lucrative and fast-growing segment in the decor market. The major benefits offered by these printers include their ability to produce higher quality images and graphical presentations than that of standard printers. In home furnishing & decor and vehicle wrap applications, these printers offer the optimum document size and high image clarity required to print on the end media efficiently. Large format printers efficiently assist architects in printing designs quickly and accurately. Vehicles wraps are an excellent cost-effective medium for mobile advertising that can reach thousands of travelers on a regular basis. These are becoming a popular advertising media. Thus, the growing demand for vehicle wraps from the decor industry is likely to boost the requirement for large format printers worldwide.

Challenge: High initial investments and operating costs

Installation and maintenance of large format printers require high initial investments. Large format printing also requires lots of printing materials. Similarly, annual electricity consumption by large format printers is too high. The design complexity of these printers and the high costs of inks are among a few of the major factors responsible for the high operational costs of large format printers. Though the top tier manufacturers are now offering large format printers at low prices; a few things such as the increased running, maintenance, and operational costs should also be considered. Thus, the high maintenance cost is posing a challenge to the growth of the large format printer market.

Large format printers with a print width ranging from 24� to 36� accounted for the largest market share in 2019

Large format printers with a print width ranging from 24� to 36� are expected to continue to account for the largest market share owing to their versatility for various applications, from tile murals and signage to CAD applications. These printers can print pages in quick succession than other printers, and these printers are suitable for low-volume environments. These printers are technologically advanced with features including inbuilt RAM and storage and web connectivity, along with Wi-Fi certification.

The market for UV-curable ink-based large format printers is expected to grow at the highest CAGR from 2020 to 2025

The market for UV-curable ink-based large format printers is expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the numerous advantages provided by UV-curable inks, which includes but is not limited to; the ink dries almost instantaneously because of its high density, is UV resistant, and does not have any significant environmental impact. This makes it durable and suitable for printing on a wide range of flexible materials, along with rigid substrates such as wood and metal for direct print. Therefore, the UV-curable ink is increasingly replacing solvent ink despite being expensive owning to its added benefits.

Among applications, the signage segment accounted for the largest share of the large format printer market in 2019

In 2019, the signage segment accounted for the largest share of the large format printer market by application. Signage is one of the most effective medium of marketing, which fosters the demand for large format printers in various uses such as indoor and outdoor signage boards to show warning signs on highways and roads, large corporate emblems, and retail promotional advertisements. Signage acts as an influencer at the point of sale and as an attraction point in booth decoration. All these factors contribute to the growth of the large format printer market for signage application.

APAC is expected to grow at the highest CAGR during the forecast period.

The large format printer market in APAC is expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the increasing use of large format printers in graphics printing, apparel and textiles printing, and computer-aided design (CAD) and technical printing applications. APAC is a leader in the overall textiles industry. China and India are the largest suppliers of textiles; these countries constitute the maximum number of textile printing owners and marketers and hold the most extensive base of textile manufacturers as well. Also, the fast-growing retail advertisement and graphic printing industry in emerging economies such as India is expected to contribute significantly towards the growth of large format printer market in APAC.

The recent COVID-19 pandemic is expected to impact the global large format printer market. The entire supply chain is disrupted due to limited supply of parts. For instance, the outbreak of COVID-19 in China resulted in lockdown measures which included the shutdown of manufacturing facilities and warehouses and affected the global exports and shipments of various industries. Also, legal and trade restrictions, such as sealed borders increase the shortage of required parts. The lockdown also led to a fall in the domestic and export demand for apparel and textiles, home furnishing and decor, as the impact of COVID-19 spreads to other countries.

Key Market Players

The key players operating in the large format printer are Hewlett Packard (US), Canon (Japan), Epson (Japan), Mimaki Engineering (Japan), Roland (US), Ricoh (Japan), Durst Phototechnik (Italy), Xerox (US), Konica Minolta (Japan), and Agfa-Gevaert (Belgium).

These companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, expansions, agreements, partnerships, joint ventures, collaborations, mergers, and acquisitions to strengthen their position in the market.

Scope of the Report

Report Metric Details Market size available for years 2017�2025 Base year considered 2019 Forecast period 2020�2025 Forecast units Value (USD Million/Billion) Segments covered Offering, Print Materials, Printing Technology, Print Width, Ink Type, Application, and Geography Geographies covered Americas, Europe, APAC and RoW Companies covered Hewlett Packard (US), Canon (Japan), Epson (Japan), Mimaki Engineering (Japan), Roland (US), Ricoh (Japan), Durst Phototechnik (Italy), Xerox (US), Konica Minolta (Japan), Agfa-Gevaert (Belgium), Electronics for Imaging (US), Kyocera(Japan), Lexmark(US), Mutoh(Belgium), ARC Document Solutions(US), Dilli Illustrate(South Korea), swissQprint(Switzerland), Shenyang Sky Air-ship Digitial Printing Equpiment(China), Seiko Instruments(Japan), and OKI Electric Industry(Japan)

Total 25 major players covered

This report categorizes the large format printer market based on Offering, Print Materials, Printing Technology, Print Width, Ink Type, Application, and Geography

Large Format Printer Market, by Offering:

Printers

RIP Software

After-Sales Services

Large Format Printer Market, by Print Materials:

Porous/Corrugated Materials

Non-Porous Materials

Large Format Printer Market, by Printing Technology:

Ink-based (Inkjet) Printers

Toner-based (Laser) Printers

Large Format Printer Market, by Print Width:

17-24�

24-36�

36-44�

44-60�

60-72�

72� and above

Large Format Printer Market, by Ink Type:

Aqueous

Solvent

UV-curable

Latex

Dye-sublimation

Large Format Printer Market, by Application:

Apparel & Textile

Signage

Advertising

Decor

CAD & Technical Printing

Large Format Printer Market, by Geography

Americas

Europe

APAC

RoW

Recent Developments

In February 2020, Mimaki Engineering launched the Tx300P-1800MKII hybrid digital textile printer. The new printer adds sublimation transfer printing to its capabilities, opening up a host of possible new materials and applications.

In February 2020, AGFA launched the Oberon RTR3300 and Jeti Tauro H3300 LED wide-format inkjet printers at FESPA 2020. The Oberon comes with several smart functions that speed up the operation and optimize media use. The Jeti Tauro comes with an Automatic Board Feeder, which enhances production efficiency.

In January 2020, Mimaki Engineering and OKI Data Corporation (Japan), a provider of office automation equipment, signed an exclusive international sales agreement under which Mimaki Engineering would sell OKI Data�s wide format inkjet printers, ink, and spares in the overseas market through its robust international sales network.

In October 2019, Roland DG Corporation announced the launch of its first IU-1000F large format UV-LED flatbed printer. The new printer boasts break-through speed and quality and also eliminates the need for mounting and drying processes.

Frequently Asked Questions (FAQ):

What is the current size of the global large format printer market? The global large format printer market is estimated to be USD 9.3 billion in 2020 and projected to reach USD 11.2 billion by 2025; growing at a CAGR of 3.8% from 2020 to 2025. Who are the winners in the global large format printer market? Hewlett Packard (US), Canon (Japan), Epson (Japan), Mimaki Engineering (Japan), and Roland (US) fall under the winner�s category. These companies cater to the requirements of their customers by providing technologically adavanced large format printers with minimal operating cost and a presence in majority of countries. What is the COVID-19 impact on large format printer market? The shutdown of manufacturing facilities globally combined with strict legal and trade restrictions in various COVID-19 affected countries impacted the operations of large format printer manufacturers. This is expected to significantly impact the global production of large format printers. For instance, in May 2020, Canon announced a temporary closure of its offices and plants in Japan in order to prevent the spread of the COVID-19. Also, companies have halted their business deals due to current market uncertainity and fears that COVID-19 might lead to a global recession. For instance, Xerox has put its hostile acquisition attempt of Hewlett Packard on hold. Additionally, the supply chain of printers is heavily dependent on raw material suppliers, which are unable to function due to lockdowns imposed worldwide. The shortage of even a single component can hold up an entire production line, resulting in inventory and cashflow backlogs. Thus unless the entire supply chain of printers is operational and functioning smoothly, their production is still challenged and constrained. What are the trends prevalent in the market? There are many advanced features which are being incorporated in large format printers, hence it is getting popular in many unconventional applications as well. Few trends which are prevalent in recent times are, use of non-porous print materials such as shrink wrap and polyester, use of high-resolution displays, in-built RAM, Wi-Fi connectivity, and texture selection. What are the opportunities for the existing players and for those who are planning to enter various stages of the large format printer value chain? There are various opportunities for the existing players to enter the value chain of the large format printer industry. Some of these include the expansion in developing market for apparel and textile owning to the rise in trend for direct to garment printing, signage as a key tool for marketing, lucrative market opportunites in home decor, and the demand for innovative packaging. .

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