The industrial inkjet printers market size was valued at US$ 6.71 billion in 2023 and is anticipated to reach US$ 11.22 billion by 2031. The industrial inkjet printers market is estimated to record a CAGR of 6.63% from 2023 to 2031.
The Europe industrial inkjet printer market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Europe has a robust automotive industry. For example, according to the European Automobile Manufacturers' Association, or ACEA, in May 2023, each year, 66 million passenger cars are sold worldwide. The European Union accounts for 14.1% of global registrations, with over 9 million new vehicles. In addition, according to ACEA, in August 2023, there were 322 automobile assembly, engine, and battery production plants in Europe in 2022—an increase from 301 plants in 2021. Thus, automotive manufacturers require accurate traceability and identification for the parts and tools they use and sell, leading to an increased demand for inkjet technology. Industrial inkjet printers are used in automotive production plants to code a specific part number of individual components for better traceability. Aside from vehicle components, the automotive industry frequently requires coding and marking solutions for other materials, such as cardboard boxes used for component packaging.
According to Freyr, in November 2023, Europe became the second-largest market for medical devices worldwide. The medical device market is majorly driven by the soaring patient population, technological advancements, and increasing healthcare expenditure. Government spending on the medical device market is increasing across the region. According to MedTech Europe, 7.2% of expenditure was spent on medical devices from the Total Healthcare Expenditure (THE) in Europe in 2023. This factor signifies a robust medical market in Europe. According to the International Trade Administration (ITA), Germany, one of the strong medical equipment markets, has been constantly growing over the years. The local production in the German medical equipment market was US$ 37.6 billion in 2019 and rose to US$ 46.2 billion in 2022. Medical devices and equipment manufacturers use industrial inkjet printers to print medical devices and medical product packaging. Regulations for unique identifier (UID) coding and marking medical products encourage the manufacturer or the market players to adopt industrial inkjet printers for enhanced track-and-trace of products for improved consumer safety and supply-chain management.
Thus, the presence of a robust medical device and equipment market and the automotive industry in Europe fosters the industrial inkjet printer market growth.
Based on type, the industrial inkjet printer market is segmented into continuous inkjet and drop on demand inkjet. The drop on demand inkjet segment held the largest industrial inkjet printers market share in 2023. Drop-on-demand (DOD) inkjet printers release ink droplets precisely when needed and result in a highly controlled and efficient process. Each nozzle in a DOD inkjet printer is separately controlled, allowing for variable drop sizes and placement. Compared to CIJ printing, DOD ink droplets do not require quick drying, as the ink is placed precisely on the substrate. These printers are compatible with a wide variety of inks, including water-based, solvent-based, and UV-curable inks. Furthermore, DOD inkjet printers use ink more efficiently compared to CIJ printers as no ink is wasted during standby or nozzle purging. DOD inkjet printers are widely used for various applications that require pinpoint accuracy, such as barcode printing, QR codes, and product labeling, which drives its demand in the market.
Videojet Technologies, Inc.(Veralto Corp) , Brother Industries, Ltd., Docod Precision Group Co., Ltd., Canon Inc., REA Elektronik GmbH, CTC Japan, LTD., FUJIFILM Holdings America Corporation, InkJet, Inc.(Cyklop International), HP Development Company L.P., Xerox Corporation, Seiko Epson Corporation, Hitachi Industrial Equipment & Solutions America, LLC, Lexmark International, Inc. (Ninestar Corporation), Markem-Imaje (Dover Corporation), Weber Marking Systems GmbH, Squid Ink (Engagge Technologies Corporation), Pannier Corporation, KYOCERA Document Solutions Inc., and Linx Printing Technologies (Veralto Corp) are among the prominent players profiled in the industrial inkjet printers market report. Several other major players were also studied and analyzed in the industrial inkjet printers market report to get a holistic view of the market and its ecosystem.
The overall industrial inkjet printers market share has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Industrial Inkjet Printers Market. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the industrial inkjet printers market.