from 2021 to 2026. The growth of the large format printer market in North America is mainly driven by large-scale business investments as well as strong demand for large format printers for large-scale printing.
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Moreover, the high adoption rate and technological advancements are also driving the growth of the large format printer market in North America. The North American region is the largest market as it is home to major players such as Hewlett-Packard (HP), Electronics for Imaging (US), Xerox Corporation (US), and Lexmark (US). The significant share enjoyed by the region is due to the massive presence of various key players and the improvement in demand for advertising and decoration. The novel coronavirus outbreak is expected to affect the large format printer market, but a steady recovery is expected by 2022. Developing APAC countries have vast growth potential as well as a favorable environment for manufacturers of printers. products. Countries like Japan and South Korea are already developed economies, and China has been the world’s fastest growing economy for the past two decades. Wide format printers are expected to experience huge demand in the region during the forecast period due to strong growth in graphics, apparel and textiles as well as CAD and technical printing. APAC produces a large amount of clothing and textiles, and this sector is expected to grow steadily in this region. Significant growth of the large format printer market is likely to be seen in advertising and signage applications in India mainly due to the booming economy. Hence, the large format printer market in APAC is expected to grow at the highest rate during the forecast period.
Ink-Based Technology Segment Expected To Experience Highest Growth During Forecast Period
One of the main reasons for the higher growth rate of the inkjet printer market is the increasing use of large format inkjet printers for technical and CAD printing applications. Architecture, Engineering and Construction (AEC) preferred laser printers because they printers used less colors and provided higher print speed than inkjet printers.
However, over time, inkjet printer manufacturers began to provide faster inkjet printers with lower operating costs for large format printing, which led to the widespread adoption of inkjet printers in these industries. The reason for the decline in demand for toner based printers is the replacement of these printers with inkjet printers due to their advantages such as low cost and low maintenance.
The UV Curing Inks Segment of the Large Format Printer Market is expected to hold a higher share during the forecast period
While aqueous ink and solvent ink printers have advantages in terms of cost and overall image quality, they also have certain disadvantages. Aqueous ink takes much longer to dry and is generally not waterproof.
In addition, this type of ink deteriorates when exposed to UV light. Solvent ink, although waterproof and able to resist ultraviolet (UV) light, produces extremely harmful chemical fumes during the printing process and requires special ventilation.
On the contrary, UV cured ink has multiple advantages; this type of ink dries almost instantly, is UV resistant and has no significant environmental impact. In addition, it can be applied to a range of uncoated substrates and to rigid surfaces.
UV cured ink is increasingly replacing solvent ink although it is expensive due to its advantages mentioned above. Hence, the demand for UV cured ink is expected to rise and hold the largest market share during the forecast period.
Large Format Printer Market in APAC is expected to have the highest CARG during the forecast period (2021-2026)
The APAC market is expected to grow at the highest CAGR during the forecast period. Most of the major large format printer suppliers such as Canon, Epson and Mimaki are based in this region.
APAC countries, especially India, Japan and China, are expected to dominate the large format printer market in the coming years, in terms of adaptability and market size.
APAC is a leader in the textiles sector. China and India are the largest suppliers of textiles; these countries constitute the maximum number of textile printing owners and distributors and also have the most extensive base of textile manufacturers.
IDC’s research into next-generation imaging, printing and document solutions in Asia / Pacific examines new opportunities in the printing environment, intelligent scan / print devices and workflow services. work managed in 3D printing. This research provides information on potential innovation that will disrupt traditional printing equipment. market in Asia / Pacific.
In light of the adoption of Platform 3 technologies, particularly in cloud, big data and mobility, end users continue to evaluate and adopt new solutions to improve their workflow environment. work from the office level to the industrial level.
Countries like Japan and South Korea are already developed economies, and China has been the world’s fastest growing economy for the past 20 years. Wide format printers are expected to experience huge demand in the region during the forecast period due to strong growth in graphics, apparel and textiles, and CAD and technical printing.
APAC produces a large amount of clothing and textiles, and this sector is expected to experience steady growth in this region. Significant growth of the large format printer market is expected to be seen in advertising and signage applications in India mainly due to the booming economy. .
Developing APAC countries have vast potential for growth as well as an enabling environment for product manufacturers. Hence, the large format printer market in APAC is expected to grow at the highest rate during the forecast period.
Breakdown of the profiles of the main participants:
â¢ By type of business: level 1 = 30%, level 2 = 50% and level 3 = 20%
â¢ By designation: C-level executives = 25%, directors = 35% and others = 40%
â¢ By region: North America = 35%, Europe = 30%, APAC = 25% and RDM = 10%
The main companies in the large format printer market are Hewlett-Packard (HP) (United States), Canon (Japan), EPSON (Japan), Ricoh (Japan), Konica Minolta (Japan), Electronics for Imaging (EFI) ( United States), Xerox Corporation (United States), Fujifilm Holdings Corporation (Japan), Kyocera Corporation (Japan), Lexmark (United States), Roland Corporation (Japan), Mimaki Engineering Co. Ltd. (Japan), Agfa-Gevaert (Belgium), Mutoh (Japan), Durst Phototechnik (Italy), ARC Document Solutions (United States), DILLI Illustrate (South Korea), swissQprint (Switzerland), Shenyang Sky Air-Ship Digital Printing Equipment Co. (China), Seiko Instruments Inc. (Japan), Oki Electric Industry Co. Ltd. (Japan), Soma Tech Intl (United States), Floral Printing (China), Dover Digital Printing (United States) and Sanyi Technology Development Co. Ltd (China).
This report segments the large format printer market with a Covid-19 impact analysis by offering (printers, RIP software, after-sales services), connectivity (wired, wireless), printing equipment (porous, non-porous) , technology (ink based), toner based), print width, ink type (aqueous, solvent, UV cured, latex, thermal sublimation), application (clothing and textiles, decoration, signage and advertising, CAD and technical printing) and geography – global forecast to 2026
Reasons to buy the report:
â¢ This report includes statistics of Large Format Printer market on the basis of supply, connectivity, printing material, technology, printing width, ink type, application and region.
â¢ The major drivers, restraints, opportunities and challenges of the Large Format Printer Market have been detailed in this report.
â¢ The report comprises illustrative segmentation, analysis, and forecast for the Wide Format Printer market on the basis of its segments.
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