Hybrid Printing System Market size was valued at $5.1 billion in 2020, and it is estimated to grow at a CAGR of 8.8% during 2021-2026. The growth is mainly attributed to the increasing demand for high-quality labels, customization and quicker lead times, shorter print runs and continual pricing pressure and this have been driving the market growth. Additionally, growing investments and increasing adoption of hybrid flexographic printing systems in textile industry further propel the market growth during forecast period. Globally, the development of a wide range of options, rise in adoption in textile industry and advertising, and increasing usage of UV Curable Ink are the prime growth drivers of global hybrid digital printing market. In addition, increase in demand for decor, home furnishing and vehicle wraps and emerging economies such as China, India and others will create new opportunities for global hybrid industrial inkjet printers market. However, higher cost of initial investment are the key restraints for the sector.
Hybrid Printing System Market Segment Analysis – By Inkjet
UV Curable ink segment held the major market share of 55.1% in 2020. As UV curable inks provide various benefits to a variety of substrates such as high print quality, adhesion, scratch resistance, light fastness, color density, no volatile organic compounds and others push the market growth. High adoption of UV inkjet in various printing applications is set to drive the market growth owing to its high production speed, high image quality, color quality, and durability.
Hybrid Printing System Market Segment Analysis – By End User Industry
Textile segment is the fastest growing segment in Hybrid Printing System market and estimated to grow at a CAGR of 9.9% during forecast period 2021-2026. The growth is mainly attributed to the increasing investments in textile industry and growing trend for fast fashions create demand for the market growth. Because of versatility in nature, UV inks can be used on the majority of substrates which is set to fuel the market growth. There has been increasing development of advanced hybrid printing systems for textile industry. For instance, in 2019, Mimaki Engineering, a leading manufacturer of inkjet printers and cutting systems, had launched the new brand hybrid digital textile printer TX300P series at ITMA2019 (Textile and Garment Technology Exhibition).
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Hybrid Printing System Market Segment Analysis – By Geography
North America dominated the Hybrid Printing System market in 2020 with a market share of 35.9%, followed by Europe and APAC owing to the presence of major players increasing the market growth. The high investments in adoption of advanced technologies and exhibiting the advanced products in various exhibitions, conferences is set to drive the market growth. In September 2019, Gallus, a Heidelberg Group company, had presented a large range of label printing presses at Labelexpo Europe 2019. Under the motto “Powered by Your Trust,” the Gallus stand has been showcasing multiple narrow web presses, such as two Gallus Labelmasters, a Gallus Labelfire, and a Gallus Smartfire and others. This is poised to drive the market growth in this region.
Hybrid Printing System Market Drivers
Benefits associated with hybrid printing such as advanced features, robust construction, greater flexibility and others drive the market growth
Hybrid printing systems are capable of integrating a variety of optional features and can be upgraded with advanced technologies and this drives the market growth. They are also easy to maintain and cost effective which attract the customers. They are also easy to integrate with IT infrastructure for a seamless transition between design, layout and print. Additionally, increased production speed is possible with the hybrid printing as it enables more work to be done in a shorter time span. Most of the tasks such as labelling, finishing, coating, packaging, and cutting are accomplished automatically. Therefore, the staffing cost involved on each print run is substantially reduced and this drives the market growth.
Printing in a single pass
In hybrid printing, printing and converting labels in a single pass is possible. Adoption of this printing system in industries is increasing as doesn’t provide any semi-finished products. As there are no semi-finished products in the usage of thing printing, high production creates huge demand for the market growth. This system also requires less pre-processing time and processing time which set to fuel the market growth.
Hybrid Printing System Market Challenges
Printing defects and high capital investment
Hybrid printing can be challenging for end users as it deals with various versions of drivers for different operating systems and printing environments. Accuracy of orienting is also a major challenge as this is critical for covering as large a Pantone color space as possible with the CMYK (Cyan Magenta Yellow Black) process colors and GOV color space enlargement colors. High capital further restricts the market growth, however lost cost compared to traditional printing systems create opportunities for the market growth.
Hybrid Printing System Market Landscape
Product launches, Acquisitions, and R&D activities are key strategies adopted by players in the Hybrid Printing System market. Hybrid Printing System top 10 companies include The M&R Companies, Edale, Gallus, Fujifim Graphic Systems, Kodak, Mark Andy, Hapa AG, Kao Collins Inc, Mimaki Engineering and others.
In May 2019, Edale had launched next generation FL3 hybrid press. This product had incorporated more automation as standard with each print station being fully motorized. Development of advanced products drives the market growth.
In February 2019, Gallus had 5 color feature to its hybrid Labelfire E 340. Adding additional and advanced features for existing products increase the Company’s hybrid printing system market share.
Europe dominated the Hybrid Printing System market in term of revenue in 2020 owing to the presence of major number of players and high investments on advanced technologies.
Adoption of UV ink due to its high print quality is poised to drive the hybrid printing system market.
Increasing investments on research and development activities and development of advanced products is set to drive the hybrid printing system market.
Printing defects and high capital investment are the major challenge that hampers the market growth.
A. Large Format Inkjet Printers Market
B. 3D Printing Market
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