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CHICAGO , Oct. 24, 2023 /PRNewswire/ -- The global large format printer market was valued at USD 8.1 billion in 2023 and is projected to reach USD 10.4 billion by 2028, registering a CAGR of 5.0% during the forecast period according to a new report by MarketsandMarkets™. The growth of the large format printer market is accelerated by the significant adoption rate and continuous technological progress. These printers find application across various industries, including advertising, packaging, textiles, and architecture, where they are instrumental in producing large-scale prints. DTF Printer
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Browse in-depth TOC on "Large Format Printer Market"
Large Format Printer Market Report Scope:
Poised to grow at a CAGR of 5.0%
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Offering, Connectivity, Printing Material, Technology, Application and Region
North America, Europe, Asia Pacific, and Rest of World
Growing popularity of digital advertising media
Increasing demand for large format printers in the in-plant market
Increasing demand for large format printers in Textiles, E-commerce, and Retail
By Ink Type: UV cured ink is projected to grow at the highest CAGR during the forecast period.
The projected growth of UV-cured ink is driven by its environmentally friendly characteristics, rapid drying capabilities, versatility, exceptional durability, vivid color output, adaptability for customization, and continuous technological advancements. Together, these elements synergistically promote the growing adoption of UV-cured ink within the printing and graphic arts industry.
By Technology: Ink-based technology accounted for the largest market share during the forecast period.
In 2022, the ink-based technology segment dominated the large format printer market, and this prevailing trend is expected to continue in the forecast period. Ink-based technology is experiencing growth in the context of large format printers because of its versatility, adaptability to diverse applications, reduced waste, and a notably higher growth rate.
By Application: The décor application is projected to grow at the highest CAGR during the forecast period.
The Décor segment is expected to grow at the highest CAGR during the forecast period. The demand for large format printers in decor applications arises from their superior image quality, optimal document size, versatility, and expanding role in home furnishing and decor use cases. Moreover, the rising demand for digitally printed products, including curtains, wall hangings, cushions, and bed covers, is increasing the adoption of large format printers for home decor applications.
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By Region: Asia Pacific will likely grow at the highest CAGR during the forecast period.
The Asia Pacific (APAC) region is held for substantial growth in the large format printer industry due to several key factors. These include the robust expansion of graphics, apparel and textiles, and CAD and technical printing sectors. Asia Pacific is a major producer of apparel and textiles, with steady growth projected in this industry. Furthermore, significant market growth is anticipated in advertising and signage applications, particularly in India , driven by its thriving economy. As a result, the large format printer industry in Asia Pacific is expected to exhibit the highest growth rate during the forecast period.
The major players in the large format printer companies include HP Development Company, L.P. (US), Canon Inc. (Japan ), Seiko Epson Corporation (Japan ), Brother Industries, Ltd. (Japan ), MIMAKI ENGINEERING CO., LTD. (Japan ), Roland DGA Corporation (Japan ), Ricoh (Japan ), DURST GROUP AG (Italy ), Xerox Corporation (US), Konica Minolta, Inc. (Japan ), Agfa-Gevaert Group (Belgium ).
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