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Banknote Printing Machine Market Expected to Reach $29.7 Billion by 2031—Allied Market Research

 
2022
Banknote Printing Machine Market

Report Code : A26971

quote The government authorities and private enterprises segment is expected to experience the fastest growth in the coming years, owing to growing public-private partnerships for the smooth circulation of currency and increasing need for seamless and exceptional product design to enable greater security to print banknotes. quote

Shadaab Khan
Research Analyst BFSI at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Banknote Printing Machine Market," The banknote printing machine market was valued at $11.3 billion in 2021, and is estimated to reach $29.7 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.

The banknote printing machine market is driven by factors such as the increasing adoption of durable solutions for printing currency and the proliferation of data analytics in the promotion of the cash cycle. Furthermore, rise in instances of currency counterfeiting, terrorist funding, and surge in government regulations & policies regarding clean banknote policies drive the growth of banknote printing machine market. Moreover, the key factor driving the banknote printing machine market trends include surge in number of security breaches in banknote circulation and adoption of durable solution in banknote productions boost the banknote printing machine market size. However, the rise in acceptance and initiatives of digital money & cashless transactions coupled with issues in outsourcing of banknote production restrict the banknote printing machine market growth. On the contrary, the emergence of big data analytics in banknote printing machine is expected to offer remunerative opportunities for expansion during the banknote printing machine market forecast.

Depending on production process, the offset printing segment holds the largest banknote printing machine market share owing to the rise in availability of a low-price range of offset printing in comparison to other conventional printing presses. However, the intaglio printing in banknote printing machine market is analyzed to witness the fastest growth due to rapid increase in currency counterfeiting practices, growth in innovation to drive forward the evolution of banknote in terms of design & security, and surge in demand for robust security in banknote industry.

Depending on region analysis, the banknote printing machine market share was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to rise in adoption of lithographic and screen-printing techniques on banknotes, which are expected to positively impact the growth of banknote printing machine industry. However, Asia-Pacific is expected to witness significant growth during the forecast period, due to rise in use of sophisticated technologies and materials such as polymer substrate for printing banknotes owing to less environmental impact, which is anticipated to drive the banknote printing machine market growth.

The outbreak of COVID-19 is projected to certainly offer numerous opportunities for market growth during the forecast period. The integration and revolution of advanced technologies such as banknote printers integrated with data analytics support central banks to handle complex operations efficiently. It also allows the collection and use of data to model, forecast, and manage their banknote needs. Further, this technological integration enables users to improve cash cycle velocity and flows, cash performance in circulation, specification performance and optimization, quality levels, and so on. Thus, it is resulting in the fast-changing use and circulation of cash around the world, which, in turn, drives the adoption of the banknote printing machine market.

Moreover, the increasing usage of durable substrates and high-tech solutions along with the advent of the concept of green banknotes that are typically used from printing to plant engineering is also supporting the growth of the banknote printing machine market. For instance, G+D has introduced the Green Banknote Initiative (GBI) as a platform for the currency community, ranging from printers to banks, aiming to optimize cash sustainability comprising alternative fibers, and usage of other recycled raw materials. This green banknote is also targeted to reduce carbon footprint by almost 29% and nearly 86% less usage of plastic than polymer banknotes. Similarly, in 2022, De Nederlandsche Bank (DNB) aims to print all banknotes with the use of sustainable cotton. Thus, these advancements in green banknotes to reduce carbon footprint and the companies’ initiatives to fulfill social & environmental responsibilities have led to the adoption and growth of the banknote printing machine industry.

Key Findings of the Study

  • By end-user, the central banks segment accounted for the largest banknote printing machine market share in 2021.
  • By region, North America generated highest revenue in 2021.
  • By production process, the offset printing segment accounted for the largest currency notes printing machine market share in 2021.

The key players that operate in the banknote printing machine market analysis  are Barry-Wehmiller Companies, Bobst Group SA, Cash Processing Solutions (CPS), Crane Holdings, Co., Flint Group, Focus Technology Co., Ltd., Goebel Capital GmbH, Heidelberger Druckmaschinen AG, Koenig & Bauer AG, Komori Corporation, Konica Minolta, Inc., Oumolat Security Printing LLC, Pasaban S.A., Security Printing & Minting Corporation of India Ltd., Shenzhen CBPM-KEXIN Banking Technology Co., Ltd, SPS TechnoScreen GmbH, Tangem AG. These players have adopted various strategies to increase their market penetration and strengthen their position in the banknote printing machine industry.

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quote Banknote Printing Machine Market by Component (Solution, Services), by Production Process (Offset Printing, Intaglio Printing, Letterpress Printing, Silk screen printing), by End User (Central Banks, Government Authorities and Private Enterprises): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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