The global offset printing press market size was valued at around USD 2560 million in 2020 and is expected to reach USD 2679 million by 2028, expanding at a CAGR of 0.7% during the forecast period, 2021 – 2028. The growth of the market is attributed to rising demand for efficient printing technology for a wide range of applications in various industries.
The offset printing press is important in terms of end-user consumer products, ranging from commercial applications such as education through reading content, printed books, journals, and magazines to industrial applications such as packaging through advanced featured printing of consumer goods.
Inked image is moved from a platter to an elastic blanket, and then transferred to the printing surface using an offset printing press. In every language and format, offset printing is the most advanced type of printing. Offset printing presses are based on the traditional, or rotary printing press, in which the printed matter was collected manually rather than automatically. In an offset printing press, the material that will be printed is placed into the device, exposed, processed using chemicals, and placed into the offset printing press machine for the final print.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for graphic applications and increasing applications of printing press in different industries are the major factors driving the offset printing press market.
- Growing awareness about its benefits such as high and consistent image quality, as well as cost benefits is expected to propel the market growth.
- The offset printing press technology is used for a wide variety of printing applications, including high, medium, and low volume printing, which drives demand and growth in the overall offset printing press industry.
- Low printing costs and ability to print a large number of documents in a short amount of time is speculated to drive the demand for offset printing press in the projected timeline.
- High-cost structure, migration to digital media, and a sensitive pricing climate, stifles market growth. Demand for the offset printing press is expected to be restrained by an increasing preference for technologically advanced printing machines, such as digital printing technology.
- Integration of latest technology and the delivery of end-user-centric printing press machines are anticipated to foster the growth of the market.
Printing Press Market Segment Insights
Web offset printing machines segment to account a large market share
Based on the types, the market is divided into web offset printing machines and sheet-fed offset printing machines. The web offset printing machines segment is anticipated to account for a large market share during the forecast period. Increasing printing and packaging operations are expected to lead to the growth of the web offset printing machines segment during the forecast period. High-volume publications such as journals, catalogs, and brochures are printed on web offset printing machines. Demand for web offset printing machines is expected to rise, as brands and other social media outlets impose great emphasis on advertising and mass communication, as the number of retail networks grows.
Newspaper segment to grow at a steady rate
In terms of applications, the market is segregated into newspapers, magazines, banknotes, packaging, and marketing material. The newspapers segment is anticipated to grow at a steady rate during the forecast period. The offset printing press is a printing machine that has revolutionized the newspaper industry. Increasing number of people preferring newspaper than digital news is driving the growth of the market segment.
Commercial segment to grow at a rapid pace
Based on the end-users, the market is bifurcated into industrial and commercial. The volume of the commercial print process is highly dependent on economic growth, especially consumer purchasing power and is primarily driven by the advertising needs of businesses such as advertising firms. Majority of the vendors in the commercial printing market print on textile and apparel items, metal, glass, paper, and plastic, as well as provide after-sales support services including plate-making, typesetting, and bookbinding.
Asia Pacific to dominate the market
On the basis of regions, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. In 2020, Asia Pacific accounted for more than 60% of the market share and is anticipated to dominate the market during the forecast period. This is attributed to rapid industrialization, growing demand for offset printing press in the industry, and rapid economic growth in the region.
Compititive Landscape
Some of the leading manufacturers in the global offset printing market are Heidelberger Druckmaschinen, Koenig & Bauer AG, Prakash Offset Machinery, Ronald Web Offset, Sakurai, Komori, Qingdao SOLNA Electronics, Beiren Printing Machinery, Manroland Sheetfed GmbH, Jingdezhen Zhongjing Printing Machinery, Hans-Gronhi Graphic Technology, Rugao Changsheng Printing Machinery, DG Press Holding, Weihai Printing Machinery, Xinxiang Xinovo Machinery, RYOBI MHI Graphic Technology (RMGT), Weifang Huatian Precision Machinery, and Shanghai Mechanical & Electrical.
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