Large Format Printer Market Expected to Reach $13.70 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Large Format Printer Market by Offering, Printing Technology, Print Width, Ink Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global large format printer market size was valued at $9.15 billion in 2020, and is projected to reach $13.70 billion by 2030, registering a CAGR of 4.2% from 2021 to 2030.

A large format printer is a machine, which enables to print materials between 12 and 100-plus inches and give a good range to create a variety of different promotional materials. These printers are durable and more powerful than traditional office printers. Large format printers are also designed for high-production capacity and offer rapid function compared to other types of professional-grade printers. Large format uses are very practical and their capabilities expand beyond posters. In addition to paper-based materials, some of these printers are designed to print on vinyl, wood, fabric, wallpaper, coated metal, ceramic, and foam.

In addition, advancements in technology across various components of printers such as ink and ink-level monitoring software have enhanced their efficiency and productivity. Nowadays, large format printers can help in creating outdoor signs, construction drawings, and blueprints. Some printers can print almost anything as long as the media fits within dimensions of printer hardware itself, therefore, such printers are used in sectors such as advertising, textile, and vehicle wraps.

Prominent factors that impact the large format printer market growth are increasing usage of large format printers in textile and advertising industries, growing popularity of dye-sublimation printing, and increasing adoption of UV-curable inkjet printer. However, high initial investments and operating costs restricts the market growth. On the contrary, rise in adoption of large format printers in vehicle wraps and home furnishing applications is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the large format printer industry during the forecast period.

The global large format printer market is segmented on the basis of offering, printing technology, print width, ink type, application, and region. By offering, the market is divided into printer, software, and service. By printing technology, it is divided into inkjet printing, and toner-based printing (laser systems). The inkjet printing segment is further sub segmented into thermal inkjet technology, electrostatic inkjet technology, crystal-based technology, and others. On the basis of ink type, it is segregated into aqueous, solvent, UV-curable, dye sublimation, latex, and others. Depending on application, it is divided into apparels & textiles, signage, advertising, décor, CAD & technical printing, construction, and others.

Region-wise, the large format printer market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America dominates the large format printer market, due to high growth in advertising and signage sector and huge funding in indoor and outdoor signage by enterprises in the region.

Key Findings of The Study

• In 2020, the printer segment accounted for maximum revenue and is projected to grow at a notable CAGR of 3.7% during the forecast period.
• The inkjet printing segment accounted for more than 50.0% of the large format printer market share in 2020.
• The solvent segment of the large format printer market is projected to grow at a CAGR of 2.0% during the forecast period.
• North America contributed major share in the large format printer market, accounting for more than 35.0% share in 2020.

The key players profiled in the report include AGFA-GEVAERT (Belgium), Canon Inc. (Japan), Durst Group AG (Italy), Epson Corporation (Japan), HP Development Company, L.P. (U.S.), Konica Minolta (Japan), Mimaki Engineering (Japan), Ricoh (Japan), Roland (U.S.), and FUJIFILM Holdings Corporation (Japan). Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the large format printer market.