The market for industrial inkjet printers was valued at approximately US$ 6.71 billion in 2023 and is projected to grow to around US$ 11.22 billion by 2031. This growth represents a compound annual growth rate (CAGR) of 6.63% from 2023 to 2031.
In Europe, the industrial inkjet printer market is divided into several key regions, including Germany, France, Italy, the UK, Russia, and other parts of Europe. The continent boasts a strong automotive sector. For instance, the European Automobile Manufacturers' Association (ACEA) reported in May 2023 that approximately 66 million passenger vehicles are sold globally each year, with the European Union contributing 14.1% of these registrations, translating to over 9 million new cars. Furthermore, ACEA noted that as of August 2023, Europe had 322 facilities dedicated to automobile assembly, engine, and battery production in 2022, up from 301 in 2021. This growth in the automotive industry necessitates precise traceability and identification of parts and tools, thereby increasing the demand for inkjet technology. Industrial inkjet printers are utilized in automotive manufacturing to print specific part numbers on individual components, enhancing traceability. Additionally, the automotive sector often requires coding and marking solutions for packaging materials, such as cardboard boxes used for component storage.
As reported by Freyr in November 2023, Europe has emerged as the second-largest market for medical devices globally. The growth of the medical device sector is primarily fueled by an increasing patient population, advancements in technology, and rising healthcare expenditures. Government investments in the medical device market are on the rise throughout the region. According to MedTech Europe, 7.2% of total healthcare spending in Europe was allocated to medical devices in 2023, indicating a strong market presence. The International Trade Administration (ITA) highlighted that Germany, a key player in the medical equipment sector, has shown consistent growth over the years. The local production value in Germany's medical equipment market increased from US$ 37.6 billion in 2019 to US$ 46.2 billion in 2022. Manufacturers of medical devices and equipment utilize industrial inkjet printers for printing on medical products and their packaging. Regulatory requirements for unique identifier (UID) coding and marking of medical products drive manufacturers to adopt industrial inkjet printers, enhancing product traceability and improving consumer safety and supply chain management.
Consequently, the strong presence of both the medical device and automotive industries in Europe significantly contributes to the growth of the industrial inkjet printer market.
The industrial inkjet printer market is categorized by type into continuous inkjet and drop-on-demand inkjet. In 2023, the drop-on-demand (DOD) inkjet segment held the largest share of the industrial inkjet printers market. DOD inkjet printers release ink droplets only when necessary, resulting in a highly efficient and controlled printing process. Each nozzle in a DOD printer can be controlled independently, allowing for variable drop sizes and precise placement. Unlike continuous inkjet (CIJ) printers, DOD ink droplets do not require rapid drying since the ink is applied directly onto the substrate. These printers are compatible with a wide range of inks, including water-based, solvent-based, and UV-curable options. Additionally, DOD inkjet printers are more efficient in ink usage compared to CIJ printers, as they do not waste ink during standby or nozzle cleaning. DOD inkjet printers are widely employed in applications requiring high precision, such as barcode printing, QR codes, and product labeling, which drives their demand in the market.
Key players in the industrial inkjet printers market include 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). The market report also includes analysis of several other significant players to provide a comprehensive view of the market landscape and ecosystem.
The overall market share for industrial inkjet printers has been determined through a combination of primary and secondary research methods. Extensive secondary research was conducted using both internal and external sources to gather qualitative and quantitative data related to the industrial inkjet printers market. This approach aids in forming an overview and forecast of the market across all segments. Additionally, numerous primary interviews were held with industry stakeholders to validate the findings and gain deeper analytical insights. This process involved discussions with industry experts, including VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the industrial inkjet printers market.