One of the key drivers of market expansion is the rising demand for quick, affordable printing solutions. Due to its capacity to produce prints of the highest calibre with excellent accuracy and detail, UV inkjet printers are growing in popularity in commercial and signage applications. The industrial sector is also anticipated to drive market expansion as its demand for quick manufacturing and prototyping procedures is anticipated to rise in the next years. The expanding manufacturing capacity of UV inkjet printers is a significant driver driving market expansion. Manufacturers are enhancing their production capacities to make them more effective and efficient by utilising cutting-edge technologies and novel materials. Their demand has increased as a result, and this is anticipated to fuel market expansion.
Due to the growing need for cost-effective, shorter production cycles, and quicker turnaround times in the printing industry, UV inkjet printer demand is expanding. The market has expanded as a result of a greater focus on environmentally friendly packaging options that minimise waste, energy use, and volatile organic compound emissions (VOCs). Additionally, UV inkjet printers can now print on a variety of substrates, such as plastic, metal, glass, and fabrics, thanks to technological advancements.
Due to its various benefits, the UV inkjet printer industry is steadily expanding. There is no requirement for solvents or substrates, thus printing on large surfaces requires less energy. Additionally, the variety of applications that these printers can handle makes them very appealing on the international market. These printers have various advantages for industrial, commercial, and signage applications.
Drops of ultraviolet (UV) curable inks are applied to a substrate using an inkjet printing technique called a UV inkjet printer to produce images. For the creation of high-quality, high-resolution printing applications, it has gained popularity. Commercial & signage, industrial, and other printing applications, among others, all use UV inkjet printers.
With a CAGR of 6.93% during the forecast period, the market for UV inkjet printers is anticipated to develop from its current value of USD 5.81 billion in 2021 to USD 11.01 billion in 2031.
The market for UV inkjet printers may see some growth restraints due to a number of issues. One significant barrier is the price of UV inkjet printers, which is costly. Many consumers and organisations cannot afford these printers because they can cost several thousand dollars. Additionally, UV ink replacement prices might be fairly costly. The small number of companies who make UV inkjet printers is another impediment. Due to the lack of competition, prices may remain high and innovation may be constrained. However, the growing need for high-quality printing, the requirement for quicker turnaround times, and the expanding acceptance of eco-friendly printing are what are driving the global UV inkjet printer market.
EFI, Konica Minolta, Fujifilm North America Corporation, Durst Phototechnik AG, HP Inc., Roland DGA Corporation, Mimaki Engineering Co., Ltd., and Mutoh Holdings Co., Ltd. are a few of the major companies active in the global UV inkjet printer industry.
The Small & Medium Format Type to Emerge as the Most Lucrative Segment
The small & medium format, large format, and other segments of the worldwide UV inkjet printer market can be divided according to type. The market's largest segment, small and medium format UV inkjet printers, is anticipated to expand at the greatest CAGR throughout the course of the forecast period. The expansion of this market is being driven by the expanding demand for these printers from the commercial sector. Due to their growing use in industrial applications, large format UV inkjet printers are also anticipated to experience considerable expansion over the course of the projected period.
The Most Popular Application Segment is Commercial & Signage
The commercial & signage, industrial, and others application categories can be used to categorise the worldwide UV inkjet printer market. Due to the rising demand for these printers from advertising and marketing organisations, the commercial & signage applications are anticipated to account for the greatest share of the market during the forecast period. As these printers are widely employed for printing on a variety of substrates such metals, plastics, glass, etc., industrial applications are also anticipated to have considerable expansion throughout the projection period.
North American region to render Adequate Financing Avenues
The largest market for UV inkjet printers is anticipated to be in North America throughout the forecast period. Due to the existence of numerous manufacturers in these nations, the US and Canada are important markets in this area. Due to economic expansion and an increase in purchasing power parity in nations like China and India, APAC is anticipated to be the second-largest market for UV inkjet printers during the forecast period. Due to increased infrastructure spending in GCC nations like Saudi Arabia and the UAE, MEA is anticipated to be the third-largest market for UV inkjet printers.
COVID-19 Impact and Market Status
Demand for UV inkjet printers has decreased because to the Covid-19 epidemic in all applications. Due to business closures and a halt in marketing efforts, the commercial and signage application area is anticipated to be the most negatively impacted. The slowdown in production operations is also anticipated to have an effect on the industrial application segment. However, because UV inkjet printers are utilised for a range of tasks, including product decoration, packaging, and medical applications, it is anticipated that this application area will be least affected. Covid-19 is anticipated to have the greatest impact on the North American region, followed by Europe and the Asia-Pacific. Due to their relatively modest UV inkjet printer markets, South America and the Middle East & Africa are predicted to be least affected.
Latest Innovations in the Global UV Inkjet Printer Market: A Snapshot
• Purchasing MWA Intelligence, Inc., a California-based provider of enterprise resource planning (ERP) solutions for managed print services (MPS) and dealer management systems, Konica Minolta Business Solutions U.S.A., Inc., a subsidiary of Konica Minolta Holdings, Inc. (DMS). Konica Minolta anticipates that the acquisition will enable it to broaden its offering of MPS solutions.
• Msoft Corporation, a Japanese supplier of software for the design and management of print documents, was purchased by Ricoh. Ricoh anticipates that the acquisition will aid in bolstering its position in the Japanese market.
UV Inkjet Printer Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 11.01 billion|
|Growth Rate||CAGR of 6.93% during 2021-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||EFI, Konica Minolta, Fujifilm North America Corporation, Durst Phototechnik AG, HP Inc., Roland DGA Corporation, Mimaki Engineering Co., Ltd., and Mutoh Holdings Co., Ltd.|
Key Segments of the UV Inkjet Printer Market
• Small & Medium Format
• Large Format
By Application Overview, 2021-2031 (USD Billion)
• Commercial & Signage
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa