Large format printer sales saw a marginal increase of 0.2 percent worldwide in 2023 — led by brands from China, says IDC.
However, the growth in large format printer market was overshadowed by a 5.2 percent decline reported by international brands, attributed to the prevailing economic recession. In contrast, Chinese brands experienced a surge of 17 percent, capturing 28.3 percent of the total share in large format printer market.
As the COVID-19 pandemic waned, Chinese brands pivoted towards international markets, capitalizing on their price competitiveness. This strategic shift resulted in substantial YoY sales growth in regions such as Western, Central and Eastern Europe, South America, and Asia/Pacific (excluding China and Japan), registering increases of 35.5 percent, 29.7 percent, 20.1 percent, and 12.0 percent, respectively.
Notably, within Asia, countries like India, Indonesia, and Malaysia witnessed over 30 percent sales growth, leading to a nearly 5 percent increase in market share compared to 2022, IDC said.
Among inkjet printers, Chinese UV printers emerged as a dominant force, capturing a global share of 19.1 percent in 2023, surpassing water-based ink printers and securing the second-largest ink type position after weak solvent printers.
The versatility of UV printing, with its ability to print on diverse media and substrates, contributed to its popularity. Leading Chinese UV large format printer brands such as KINGT and Docan continue to expand the application scope of UV printing with innovative capabilities, signaling further growth potential in this segment, according to IDC.
While primarily serving graphic printing service providers within the advertising industry internationally, Chinese printers are increasingly penetrating other sectors such as garment printing, photo printing, and proofing. Despite relatively lower shipments, the demand for these printers is on the rise, with a market value estimated at around US$24 million for the full year.
Annie Wang, senior research analyst at IDC Asia/Pacific, commented on the findings, stating, “Despite weak demand in international trade, Chinese enterprises continue to enhance their global competitiveness with stable quality and mature solutions.”
“Many Chinese brands have technology and services that are on par with or even surpass international standards, particularly in fields like PET transfer printing technology. As Chinese enterprises expand their global presence, we anticipate further expansion of Chinese brands’ market share in the global imaging printing sector,” Annie Wang said in the report.
