Growth in the popularity of dye-sublimation printing, a rise in the adoption of UV-curable inkjet printers, and an increase in use of large-format printers in textile and advertising industries are driving the growth of the global large-format printer market, according to new research. The global large-format printer industry generated $9.15 billion in 2020, and is anticipated to generate $13.7 billion by 2030, with a compound annual growth rate (CAGR) of 4.2 percent from 2021 to 2030, according to a report by Allied Market Research, titled ‘Large Format Printer Market by Offering (Printer, Software, and Service), Printing Technology (Inkjet Printing and Toner Based Printing (Laser Systems)), Print Width (11″ TO 24″, 24″ to 36″, 34″ TO 44″, 44″ to 60″, 60″ to 72″, and above 72″), Ink Type (Aqueous, Solvent, UV-Curable, Dye Sublimation, Latex, and Others), and Application (Apparels & Textiles, Signage, Advertising, Décor, CAD & Technical Printing, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.”
However, high initial investments and operating costs hinder the market growth. On the other hand, increase in adoption of large format printers in vehicle wraps and home furnishing applications presents new opportunities in the coming years. The outbreak of the COVID-19 pandemic led to global lockdown and temporary closure of manufacturing facilities, which hampered the growth of the global large format printer market. Furthermore, the pandemic disrupted the whole supply chain and created shortages of materials, components, and finished goods. Nevertheless, the market is going to recover once the lockdown gets completely over.