Global Thermal Printing Market To Reach $48.8 Billion By 2026

SAN FRANCISCO, Feb. 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Thermal Printing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 10; Released: February 2022
Executive Pool: 583
Companies: 116 - Players covered include Bixolon Co., Ltd.; Brother International Corporation; Fujitsu Ltd.; Honeywell AIDC; SATO Holdings Corporation; Seiko Epson Corporation; Star Micronics Co., Ltd.; Toshiba TEC Corporation; TSC Auto ID Technology Co., Ltd.; Zebra Technologies Corporation and Others.
Coverage: All major geographies and key segments
Segments: Component (Supplies, Printers)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Thermal Printing Market to Reach US$48.8 Billion by the Year 2026
Thermal printing technology is extensively used to facilitate precise and fast printing of receipts or labels. Thermal printers use heat rather than toner or ink for producing quality images on paper. Growth in the global market is being driven by robust demand from a diverse spectrum of end-user industries and uptake of advanced solutions in different applications. The market is buoyed by increasing adoption of high-speed and cost-efficient printing options. Thermal printing presents a superior and more compelling option in comparison to traditional impact printers, making the technology a popular solution for POS terminals in the retail sector. The demand for thermal printers is also bolstered by their higher cost-effectiveness than standard solutions. These printers are anticipated to witness lucrative opportunities across emerging economies such as China, India, Mexico and Brazil owing to their rapid industrialization and economic expansion. Moreover, these countries are rapidly emerging as manufacturing hubs for several products due to strong focus of companies to modernize the infrastructure and push production efficiency. Market growth is also driven by increasing use of the automatic identification and data capture (AIDC) technique to improve productivity, rising uptake of thermal printing for on-demand printing tasks and concerns over product safety or anti-counterfeiting. Another factor augmenting growth of the thermal printing market is the increasing demand for thermal transfer printing. The technology yields lasting and more legible prints in comparison to prints offered by direct thermal printers that are susceptible to smudge.

Amid the COVID-19 crisis, the global market for Thermal Printing estimated at US$40.3 Billion in the year 2022, is projected to reach a revised size of US$48.8 Billion by 2026, growing at a CAGR of 4.6% over the analysis period. Supplies, one of the segments analyzed in the report, is projected to grow at a 4.4% CAGR to reach US$36.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Printers segment is readjusted to a revised 5% CAGR for the next 7-year period. This segment currently accounts for a 28% share of the global Thermal Printing market. The market is dominated by barcode printers segment that is predicted to account for the leading share in the coming years due to their extensive use in small to large businesses for labeling and tracking products intended to be shipped. Barcoding holds high relevance for numerous industrial settings owing to its ability to combine data management functions that ensures reliable and consistent operations as well as boosts productivity. The Supplies segment gains from rising demand for quality supplies to improve printing quality and reduce wear and tear.

The U.S. Market is Estimated at $11.8 Billion in 2022, While China is Forecast to Reach $7.2 Billion by 2026
The Thermal Printing market in the U.S. is estimated at US$11.8 Billion in the year 2022. The country currently accounts for a 29.5% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$7.2 Billion in the year 2026 trailing a CAGR of 6.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the end of the analysis period. Increase in consumer incomes, westernization, improved lifestyles and marketing/retailing practices are poised to enhance demand for packaged consumer goods in developing markets. The increasing efforts of several regional governments to implement legislations to curb the growing menace of piracy and counterfeiting also translate into promising opportunities for the Asia-Pacific market.

Wide Web Thermal Printers Enjoy Widespread Use
Various applications require wide web printers for printing 8-inch and 6-inch labels. In countries such as Japan, Europe, and the US, label standards have been created by automotive companies for their suppliers which require extended content that only 6-inch labels can fulfil. Another application area is the chemical sector wherein drum labels are standardized on larger 8-inch format for improved visibility and bigger print. Also in various supply chain applications, wide pallet labels might be employed for printing shipping information and content easily on a label. Another area where wide web thermal printers are employed is for multi-up labels. In this, 2, 3, or 4 separate labels are placed beside each other along the web, facilitating improved printing efficiency, instead of printing lengthy single-up labels. Certain thermal printer multi-up applications were initially printed on line printers or impact dot-matrix printers and have been moved to thermal printers for faster printing and improved print quality.

Another application of wide label printing is for the replacement of letter/A4 laser printers. Laser printers are not suitable for use in industries and cannot manage the print volumes that a thermal printer can. In comparison to laser printers, thermal printers have an extended life. Thermal printers which can support PDF and Postscript print works are suitable to be a replacement to laser printer applications. Designing and producing printers that can handle wide labels in a friction-free manner entails more challenges as compared to the standard 4-inch thermal printer. For wide label printing, aside from correctly guiding the label across the print station, focus needs to be on ascertaining that the ribbon tension is equal across the entire web to prevent wrinkling. Attention also needs to be on maintaining steady printhead pressure. In the absence of accurate engineering and construction, these aspects can lead to low print quality and unreadable or low grade barcodes. This inefficiency has a negative impact on productivity and the application area. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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www.StrategyR.com
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