Thermal Printing - Global Market Trajectory & Analytics

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$37.2 Billion in the year 2020, 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 $11.4 Billion in 2021, While China is Forecast to Reach $7.2 Billion by 2026

The Thermal Printing market in the U.S. is estimated at US$11.4 Billion in the year 2021. 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.

Select Competitors (Total 116 Featured) -

• Avery Dennison Corporation
• Axiohm
• Bixolon Co., Ltd.
• Brother Industries Ltd.
• Brother International Corporation
• Fujitsu Limited
• Honeywell International Inc.
• NCR Corporation
• Rongta Technology (Xiamen) Group Co.,Ltd.
• Sato Holdings Corporation
• Seiko Epson Corporation
• Star Micronics Co. Ltd.
• Toshiba Corporation
• Toshiba Tec Corporation
• TSC Auto ID Technology Co., Ltd.
• Wasp Barcode Technologies
• Zebra Technologies Corporation