Printing Machinery Market Expected to Reach $20.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Printing Machinery Market," The printing machinery market size was valued at $16.5 billion in 2021, and is estimated to reach $20.5 billion by 2031, growing at a CAGR of 2.2% from 2022 to 2031.

Printing machine is a type of machine by which text and images are transferred from movable type to paper or other media by means of ink. Printing machinery are used for every application dealing with printing of texts, designs and images which is growing its adoption. In adoption, the use of printing machinery in offices and different institutional organizations is another factor driving the growth of the market.

Rise in disposable income of consumers around the world and newspapers, magazines, books among other products of the global print media industry becoming more affordable are expected to boost the printing machinery market growth. In addition, rising global population and urbanization are also causes behind the continued demand of print media in advertising applications worldwide.  Printing machines are used widely in the advertising industry for printing of posters, flyers, billboards, flexes, among other applications. Print media and printing of labels also find application in various office and admin use due to its high printing speed. These machines are used to print magazines, newspapers, books, labels and find application in office and admin use due to the high speed of printing. However, replacement of conventional printers with digital printers is expected to limit the affordability options for customers, which in turn is expected to limit the growth of the market.

On the contrary, advancements in technology are leading to addition of new features in printing machinery, which is helping in providing fast and efficient task. This in turn is expected to offer lucrative opportunities for the market.

Europe registered highest market share in the global printing machinery market share in 2021, owing to increase in demand for sustainable packaging solutions and rise in demand for consumer goods in Europe.

However, during the COVID-19 pandemic, various manufacturers in the printing machinery market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of printing machinery companies. In addition, lack of manpower and raw materials also constricted supply of equipment of printing machinery, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of printing machinery companies.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging global printing machinery market trends and dynamics. 
• Depending on product type, the offset segment has dominated the printing machinery market, in terms of revenue in 2021 and digital segment is projected to grow at a significant CAGR during the forecast period.
• By end user, the packaging segment has registered highest revenue in 2021.
• Europe is projected to register highest growth rate in the coming years.
• The key players within the global printing machinery market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the printing machinery industry.
• The printing machinery market forecast analysis from 2022 to 2031 is included in the report.
• In-depth global printing machinery market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.