Large Format Printers Market - 76% of Growth to Originate from APAC | Driven by Growing Adoption of UV-curable Ink | Technavio
NEW YORK, May 20, 2022 /PRNewswire/ -- The Large format printers market size is set to grow by USD 331.91 million from 2020 to 2025. However, the growth momentum is likely to decelerate at a CAGR of 1% according to the latest market report by Technavio. 76% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for large format printers market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The presence of major laser printer manufacturers will facilitate the large format printer market growth in APAC over the forecast period.
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Large Format Printers Market 2021-2025: Scope
Our large format printers market report covers the following areas:
Large Format Printers Market 2021-2025: Vendor Analysis
The large format printers market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Agfa-Gevaert NV, Canon Inc., FUJIFILM Holdings Corp., HP Inc., Kyocera Corp., Ricoh Co. Ltd., Roland DGA Corp., Seiko Epson Corp., Sony Corp., and Xerox Corp. are some of the major market participants.
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Large Format Printers Market 2021-2025: Drivers & Challenges
The primary growth driver for this market is the rise in the adoption of UV-curable ink. UV curing offers efficient curing of inks using high-intensity UV light. The growth in the adoption rate can be attributed to advantages such as slow heat generation, a faster curing process, and the high durability of the UV-curable inks in outdoor conditions. These advantages of UV-curable inks resulted in high productivity and reduced ink consumption and operational costs. Considering different benefits offered by UV inks, multiple industries are adopting UV-curable inkjet printers.
However, the emergence of digital substitution will be a major challenge for the large format printers market during the forecast period. As of 2019, most of the work is done online, which was earlier done with the help of the printers. Posters and banners have become digitized. This substitution is happening because it is less time-consuming, low cost, and fast. In addition, with the increased market of online retailing and advertising, the printing market is losing its share. Earlier, advertisers used to spend on printing pamphlets, paper ads, posters, and banners, but currently, most of the advertisement is done through the television or projectors that are used instead of banners or posters, which will hinder the adoption of LFPs.
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Large Format Printers Market 2021-2025: Segmentation & Revenue Generating Segment
The large format printers market share growth by the aqueous segment will be significant for revenue generation. Aqueous large formant printer uses water-based ink for printing. Several buyers are shifting toward aqueous ink LFPs from solvent ink LFPs to reduce the environmental hazards caused by solvents. Aqueous ink LFPs offer high standards of print quality with better efficiency compared with solvent inks.
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The competitive scenario provided in the Large Format Printers Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don't wait, Make a strategic approach & boost your business goals with our Large Format Printers Market Forecast Report - Buy Now!
Large Format Printers Market 2021-2025: Key Highlights
Table Of Contents :
Five Forces Analysis
Market Segmentation by Technology
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