According to the research report, “Large Format Printer Market by Offering (Printers, RIP software, Services), Ink Type (Aqueous, Solvent, UV Curable, Latex, Dye Sublimation), Printing Technology, Printing Material, Print Width, Application, and Geography — Global Forecast to 2025”, is projected to grow from USD 9.3 billion in 2020 to USD 11.2 billion by 2025; it is expected to grow at a CAGR of 3.8% from 2020 to 2025. Key factors fueling the growth of this market include increasing demand for large format printing in the textiles, advertising, and packaging industries; rising adoption of UV curable inks in outdoor advertising, CAD, and technical printing applications; and the growing importance of digital document production in commercial printing applications. The increasing demand for large format printers for home furnishing & decor and vehicle wrap applications, the rising requirement for large format printing from the in-plant market, as well as the availability of varieties of large format printers with a varied price range, are creating tremendous growth opportunities for the players in the large format printer market.
Browse 65 market data Tables and 73 Figures spread through 165 Pages and in-depth TOC on “Large Format Printer Market by Offering (Printers, RIP software, Services), Ink Type (Aqueous, Solvent, UV Curable, Latex, Dye Sublimation), Printing Technology, Printing Material, Print Width, Application, and Geography — Global Forecast to 2025”
[165 Pages Report] The large format printer market is projected to grow from USD 9.3 billion in 2020 to USD 11.2 billion by 2025; it is expected to grow at a CAGR of 3.8% from 2020 to 2025. Key factors fueling the growth of this market include surging demand for large format printing in the textiles, advertising, and packaging industries; growing adoption of UV-curable inks in outdoor advertising, CAD, and technical printing applications; and the increasing importance of digital document production in commercial printing applications.
COVID-19 Impact on the Global Large Format Printer Market
The large format printer market includes major Tier 1 and 2 suppliers like Hewlett Packard, Canon, Epson, Mimaki Engineering, Roland, Ricoh, Durst Phototechnik, Xerox, Konica Minolta, and Agfa-Gevaert. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. The large format printers manufactured by these companies are used by end-use industries such as apparel and textiles, signage, advertising, decor, and CAD and technical printing.
Covid-19 not only impacted the operations of the various printing equipment manufacturing industries, but also affected the businesses of companies from the above-mentioned industries. The COVID-19 has also impacted the demand side of the market. The pandemic scenario due to COVID-19 has lowered the demand for apparel and textiles from the customers due to low spending power and reduced investment in lifestyle needs. This has declined the demand for large format printers from apparels and home decor applications. Also, the continuous fall in the global demand and export shipments for home decor products is also expected to negatively impact the large format printer market.
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