May 25, 2024

The Global Printing Machine Market Growth is Accelerated by Rapid Product Adoption

Printing machines are extensively used for commercial and industrial printing applications. Printing machines offer features such as higher print quality, productivity, and customization. Printing machines cater to various industrial applications including packaging printing, publication printing, sign & display printing, and others.

The global Printing Machine Market is estimated to be valued at US$ 98.72 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rapid product adoption is one of the key trends driving the growth of the printing machine market. There is a rising demand for technologically advanced printing machines from various end-use industries such as publishing, packaging, advertisement, and others. Growing applications of digital printing and automation in printing processes are stimulating manufacturers to integrate advanced features such as artificial intelligence, Internet of Things, 3D technology, and others in printing machines. This is helping them to gain popularity among end-users and accelerate their adoption. Innovation and product premiumization led by key players are further supporting the growth of the market.

Segment Analysis
The global printing machine market is segmented based on technology into flexography, offset, gravure, digital and screen printing. Among these, the offset printing segment dominates the market and is expected to continue its dominance during the forecast period. Offset printing provides high-quality print output at reasonable costs and is thus extensively used for publishing books, magazines, brochures and catalogs. It allows easy adjustment of the printing plate which provides flexibility in print production.

Key Takeaways
The Global Printing Machine Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market size is projected to grow from US$ 98.72 Mn in 2024 to US$ 154.03 Mn in 2031, registering a CAGR of 5.9%.

Regional analysis
North America dominates the global printing machine market currently. This can be attributed to high demand from end-use industries such as publishing and packaging in the region. presence of major players is also driving the North America printing machine market. Asia Pacific printing machine market is projected to witness the fastest growth during the forecast period supported by growth of packaging industry in China and India.

Key players
Key players operating in the printing machine market are CHEP, PalletOne, John Rock, Millwood, Brambles, CABKA North America, United Pallet Services, Pacific Pallet, Midland Pallet LLC, The Nelson Companies. CHEP is one of the largest pallet rental companies globally.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it