Print Equipment Market Size, Share, Growth Analysis, By Type(Offset, Digital, Flexo, Others), By End-Use(Packaging, Publication, Commercial & Others), By Region - Industry Forecast 2024-2031

Global Print Equipment Market size was valued at USD 22.89 billion in 2019 and is poised to grow from USD 23.4 billion in 2023 to USD 27.85 billion by 2031, growing at a CAGR of 2.20% in the forecast period (2024-2031).

The invention of printing presses has enabled the mass production of books, newspapers, magazines, and other reading materials. In order to promote literature, printing is crucial. For instance, according to the World Association of Newspapers and News Publishers (WAN-IFRA) 2020 facts report, the print circulation was 521 million around the globe. According to the estimates publishers are earning about 82% of their total revenue from print, and that revenue will prove vital for publishers continuing to transition to a more digitally-focused business.

The global printing machine market is expanding as a result of the expanding packaging industry and rising demand for advanced graphics in this sector. Additionally, the expansion of e-commerce has become a key element in the growth of the packaging market, which has in turn increased demand for printing equipment. For instance, the Indian Brand Equity Foundation estimates that the country's e-commerce sector earned $15 billion in revenue in 2019 and went on to reach $64 billion in 2019, with a CAGR of 44.8 percent.

The fundamental force behind this growth of the print equipment market is the quick development of technology. One of the most recent advancements influencing the prognosis for the global market for printing machines and equipment is instant and on-the-go printing. By using the appropriate smartphone app, wireless connectivity in portable printers enables hassle-free printing for consumers. In addition to inspiring the future generation of young users to be more imaginative and acclimated to using printers with this technology, the futuristic technology will also. The supply of essential raw materials for inks and their components has been particularly difficult over the past few years, forcing ink businesses to scramble to obtain inks and coatings at significantly higher costs. As per reports, sales of printing equipment fell by 24 percent in 2019 as a result of the coronavirus epidemic, totalling to USD 13.2 billion globally.

US Print Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.