(EMAILWIRE.COM, July 05, 2019 ) Large format printer market is expected to witness high growth during the forecast period. The large format printer market was worth USD 8.4 billion in 2017 and is projected to reach USD 10.6 billion by 2023, at a CAGR of 4% during 2017–2023. Major drivers for the large format printer market are increasing demand for large format printing in the textile, advertising, and packaging industries; the 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.

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Market for large format printer hardware expected to hold the largest market share during the forecast period

Large format printers are computer-controlled printing devices that support print roll width ranging from 18 inch to 100 inch. Printers that support print roll width of over 100 inch are considered as super-wide or grand format printers. Large format printers are used for various applications, including printing banners, posters, trade show graphics, wallpaper, vehicle image wraps, architectural drawings, construction plans, and backdrops for theatrical and media sets. Manufacturers such as Hewlett-Packard (HP) and Canon, provide a variety of large format printers, such as large format printers-color (used in color printing applications that do not strictly require a high print quality), large format printers-black & white (used for black and white printing requirements), and large format printers-graphics (used for indoor and outdoor display graphic applications, such as advertising, banners and posters, billboards, and wall frontage displays, on various paper and plastic materials).

Ink-based (inkjet) printing technology expected to hold the largest market share during the forecast period

One of the major reasons for the higher market for inkjet printers is the increasing use of inkjet large format printers for technical and CAD printing. Traditionally, the architecture, engineering, and construction (AEC) industry preferred laser printers as these printers used lesser colors and ensured higher printing speed than inkjet printers. However, with time, inkjet printer manufacturers have started providing faster inkjet printers with reduced running costs for large format printing, which has led to the widespread adoption of inkjet printers in this industry.

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The market for solvent ink-based large format printers accounted for the largest share in 2018

Solvent ink is comparatively cheaper than UV-curable and water-based inks; this ink enable printing on various surfaces, including corrugated boards, paper, flexible packaging materials, metal foils, and plastic materials. This ink is flexible, waterproof, durable, and therefore, does not require special over-coatings. It contains pigments rather than dyes, unlike aqueous ink, which contains water. Solvent ink is suitable for applications such as vehicle graphics, banners, and billboards. Solvent ink-based printers are economical compared with aqueous ink-based and UV-cured ink-based printers. These printers enable printing on flexible, vinyl substrates and are largely used in vehicle graphics, banners, and billboards applications.

Market for the large format printers with a print width ranging from 24” to 36” is expected to hold the largest share during the forecast period
These printers are mostly used in custom-apparel and CAD applications. Printers with a print width ranging from 24” to 36” can print pages in quick succession compared with other printers and are good for low-volume environments. These printers have technological features, including inbuilt RAM & storage and web connectivity, along with Wi-Fi certification. Top tier manufacturers such as HP, Roland, Epson, and Canon produce and provides a significant number these printers in the market.

The market for signage applications expected to hold a major share of the large format printer market in 2019

Wide varieties and different uses of indoor and outdoor signage, such as warning signs on highways and roads, large corporate emblems, promotional signage, and window displays, contribute to the growth of the large format printer market for signage applications. Signage prints are carried out using wide format printers; the demand for signage applications is expected to grow during the forecast period, thereby driving the demand for large format printers.

“Americas expected to account for the largest market share from 2017 to 2023.”

The signage and advertising sector in the Americas is growing rapidly; companies in this region are investing more in outdoor advertising and indoor signage. Retail giants such as Walmart and Carrefour are driving the growth of the market for signage applications. The demand for large format printers in the Americas is more for outdoor advertising and indoor signage applications compared to other applications, such as apparels and tile murals. The market in the Americas is more mature than the market in APAC and other regions. The Americas is likely to contribute significantly to the growth of the overall large format market during the forecast period.

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Key Market Players

Key players in the large format printer market include include Hewlett-Packard (HP) (US), Canon (Japan), Epson (Japan), Mimaki Engineering (Japan), Roland (US), Ricoh (Japan), Durst Phototechnik (Italy), Xerox (US), and Konica Minolta (Japan). Major players in the large format printer market have adopted strategies such as agreements, product launches, mergers & acquisitions, and partnerships to grow in the market.

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