India Inkjet Printer Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 45.54 Billion |
| Market Size (2029) | USD 56.78 Billion |
| CAGR (2024 - 2029) | 4.51 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Inkjet Printer Market Analysis
The India Inkjet Printer Market size is estimated at USD 45.54 billion in 2024, and is expected to reach USD 56.78 billion by 2029, at a CAGR of 4.51% during the forecast period (2024-2029).
- Inkjet printers, known for their superior color blending capabilities, consistently outshine their laser counterparts. Not only do inkjet printers come with a lower initial price tag, but their ink cartridges are also significantly cheaper than toner cartridges. As markets evolve and consumer preferences shift, brand owners and label converters increasingly turn to inkjet printing, aligning with modern demands for swift availability and personalized offerings.
- Modern inkjet printers predominantly utilize two technologies: drop-on-demand (DOD) and continuous inkjet (CIJ) technology. CIJ technology harnesses a high-pressure pump to push liquid ink from a reservoir through a tiny nozzle, creating a continuous stream of ink droplets. This technique is widely adopted for product coding and marking. Consumers prefer CIJ printers over manual systems for tasks like printing on bottles and packages. Moreover, there's a noticeable shift among end users moving from traditional analog methods to digital coding solutions.
- Inkjet printers boast several advantageswhich includes rapid printing speeds, versatility across various materials, and the capability to run for extended durations with minimal costs and servicing. These benefits have spurred the adoption of inkjet printers in industries such as aerospace, food, and beverages, propelling the growth of the Indian inkjet printer market. Furthermore, technological strides in inkjet printing, like enhanced print quality and the introduction of eco-friendly inks, bolster their rising popularity. With businesses on the lookout for efficient and cost-effective printing solutions, the demand for inkjet printers is set to surge, propelling market growth during the forecast period.
- ColorJet Group, a prominent Indian manufacturer of digital textile printers, boasts a presence in 20 countries. The company recently sought government support for its upcoming research and development (R&D) initiatives in digital textile printing. Shifting from traditional to digital textile printing not only meets the pressing need to curb carbon footprints but also resonates with global sustainability objectives. As India's leading digital inkjet printer manufacturer, ColorJet is actualizing the vision of the nation's Prime Minister, crafting world-class digital textile printers that receive international recognition and are installed globally.
- The inkjet printing industry's ink demand is reshaping its landscape. Presently, the market is largely fueled by solvent, water-based, and UV inks, with LED inks starting to make their mark. Furthermore, hybrid UV/water systems are gaining momentum. Yet, the sector faces hurdles, especially the steep ink costs, which hinder vendors' shift from analog to digital. Looking forward, as applications broaden and economies of scale kick in, ink prices are anticipated to drop. However, they will likely remain higher than traditional analog ink prices.
India Inkjet Printer Market Trends
Large Format Inkject Printers to Hold Major Share
- Inkjet printers are experiencing robust growth, fueled by heightened demand in sectors such as packaging, textiles, and advertising. Notable drivers include the escalating adoption of UV curable inks in outdoor advertising and technical printing, coupled with a heightened focus on digital document production in commercial printing. The increasing importance of digital document production in commercial printing applications further underscores this trend, highlighting the pivotal role of inkjet technology in meeting modern printing needs.
- In India, the appetite for large format printers is surging, particularly for applications in home furnishings, decor, and vehicle wraps. This demand is further amplified by the evolving needs of the in-plant market and the broad spectrum of price points for large format printers, unveiling vast opportunities for industry stakeholders. The availability of various large format printers with a wide price range is creating tremendous growth opportunities for players in the Indian market, enabling them to cater to diverse customer requirements and preferences.
- According to IBEF, the Indian textile industry achieved a market valuation of around USD 226 billion in 2023. Demand for textiles is set to accelerate. As the fashion segment adopts multiple mini-seasons and print-on-demand deliveries, the emphasis on swift turnarounds intensifies. This trend dovetails perfectly with inkjet production's hallmark of reduced setup times, enhancing direct online sales of printed apparel and home decor items. The synergy between the evolving fashion industry and inkjet printing technology underscores the potential for significant growth and innovation in the textile market.
The Commercial Segment is Expected to Witness Significant Growth
- Inkjets play a crucial role in the dynamic landscape of commercial printing, excelling in producing short runs and unique products. The increasing importance of commercial printing is highlighted by the surge in online ordering and specifications, driven by web-to-print technology.
- India is a dominant force in global apparel and textile production. The demand for inkjet printers is on the rise, spurred by their growing applications in graphics printing, clothing and textile printing, computer-aided design (CAD), and other technical printing tasks. The market for large format printers in India is expanding, especially in signage and advertising, thanks to the nation's robust economy. According to FICCI, India's print industry was valued at over INR 260 billion (USD 3.09 billion) in 2023, with forecasts suggesting it will exceed INR 288 billion (USD 3.43 billion) by 2026, indicating a compound annual growth rate of about 3.4%.
- Recognizing the widespread adoption of all-in-one printers by businesses, many vendors are ramping up their offerings. With the emergence of new small companies in the region, these vendors are diversifying their portfolios to include advanced all-in-one printers. Major players like HP Inc., Canon, and Epson are at the forefront, significantly propelling the growth of inkjet printers.
- Inkjet printers are witnessing consistent year-over-year growth in unit shipments globally, including in India. In India, this growth is predominantly driven by the online channel, especially with sales events leading up to the Diwali Festival. While laser printer shipments are declining, ink tank printers are on the rise, compensating for this dip. Additionally, the Indian government's crackdown on the reconditioned copier market is likely to boost demand for genuine laser printers.
India Inkjet Printer Industry Overview
The India inkjet printer market is highly competitive, owing to several market players holding significant market shares. The market has vibrant competitiveness, whether product launches, mergers, takeovers, or new marketing strategies. Canon, Brothers Industries Ltd, Epson India Pvt Ltd., Linx Printing Technologies, Videojet Technologies Inc., Jet Inks Pvt Ltd, Advanced Industrial Micro Systems, KGK Jet India Pvt Ltd, and many more are among the major players in the market. The companies are involved in many growth and expansion strategies to get a competitive advantage. Several business participants also follow the value chain alliance with business transactions in various value chain steps.
India Inkjet Printer Market Leaders
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Canon India Pvt. Ltd.
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Epson India Pvt. Ltd.
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JET INKS PVT LTD.
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Colorjet Group
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Brother International (India) Pvt Ltd.
*Disclaimer: Major Players sorted in no particular order
India Inkjet Printer Market News
- June 2024: At Drupa, Monotech, Ricoh's partner in India, secured multiple deals for Ricoh's toner presses. These include toner technologies such as the Ricoh Pro C9500 and Ricoh Pro C7500. However, the Pro Z75 has yet to make its debut in India.
- March 2024: HP has launched a new lineup of OfficeJet Pro printers, specifically designed to cater to the printing demands of SMBs in India. This cutting-edge range offers reliable, convenient, and sustainable printing solutions, empowering businesses to boost productivity, whether they're operating from home, the office, or a creative studio. The updated OfficeJet Pro series boasts a wide array of features essential for businesses navigating today's fast-paced landscape. Notably, this extensive portfolio introduces industry-first wide-format business Inkjet printers with P3 color support, guaranteeing vibrant and accurate color reproduction on media sizes up to A3, for both printing and scanning.
- October 2024: Domino Printing Sciences (Domino) has launched its new compact monochrome inkjet printer, the K300, in the Indian market. Designed as a versatile and space-saving solution, the K300 caters to converters aiming to integrate variable data printing into their analogue printing lines.
- May 2024: Canon India, a frontrunner in digital imaging solutions, has unveiled six state-of-the-art large-format printers. Notably, the new 7-colour printers, part of the imagePROGRAF GP series (GP-526S/546S/566S), are specifically designed for the graphics art market. These printers utilize the advanced LUCIA PRO II pigment ink, ensuring vibrant and captivating posters and photographs. Additionally, Canon has bolstered its 12-colour category with the introduction of three new printers (PRO-526/546/566) in the imagePROGRAF PRO series. These printers, tailored for photography and fine art, promise an impressive print longevity of up to 200 years.
India Inkjet Printer Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the India Inkjet Printer Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Shift in Consumer Demands and Increasing Adoption of Ink Tank Printers
5.1.2 Increasing Flexibility in terms of Speed and Cost Control
5.2 Market Challenges
5.2.1 Technological Limitations and Competition from Laser Printing
6. MARKET SEGMENTATION
6.1 By End-user Industry
6.1.1 Books
6.1.2 Commercial Print
6.1.3 Advertising Print
6.1.4 Transactional Print
6.1.5 Labels
6.1.6 Packaging
6.1.7 Security
6.1.8 Other Print Formats (Photobooks, Magazines, Newspapers, and Catalogs)
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Canon India Pvt Ltd.
7.1.2 Epson India Pvt Ltd.
7.1.3 Jet Inks Pvt Ltd.
7.1.4 Colorjet Group
7.1.5 Brother International (India) Pvt Ltd.
7.1.6 Control Print Ltd.
7.1.7 Videojet Technologies Inc.
7.1.8 Advanced Industrial Micro Systems
7.1.9 KGK Jet India Pvt Ltd.
7.1.10 Linx Printing Technologies
7.1.11 Markem-Imaje India Pvt Ltd.
7.1.12 Spravaj Techno Services
7.1.13 Konica Minolta Business Solutions India Private Limited
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
India Inkjet Printer Industry Segmentation
Inkjet printers have been instrumental in the evolution of digital printing. This method sprays tiny droplets of liquid ink onto substrates like paper, producing images that meet photo-quality standards. Inkjet printers stand out as a cost-effective choice when compared to other printing techniques. Their ability to offer complete variability and incur minimal setup costs enables economical printing, even for a single copy.
The India Inkjet Printer Market is segmented by print format (books, commercial print, advertising print, transactional print, labels, packaging, security, and others print formats). The market sizes and forecasts are in terms of value (USD) for the above segment.
| By End-user Industry | |
| Books | |
| Commercial Print | |
| Advertising Print | |
| Transactional Print | |
| Labels | |
| Packaging | |
| Security | |
| Other Print Formats (Photobooks, Magazines, Newspapers, and Catalogs) |
India Inkjet Printer Market Research Faqs
How big is the India Inkjet Printer Market?
The India Inkjet Printer Market size is expected to reach USD 45.54 billion in 2024 and grow at a CAGR of 4.51% to reach USD 56.78 billion by 2029.
What is the current India Inkjet Printer Market size?
In 2024, the India Inkjet Printer Market size is expected to reach USD 45.54 billion.
Who are the key players in India Inkjet Printer Market?
Canon India Pvt. Ltd., Epson India Pvt. Ltd., JET INKS PVT LTD., Colorjet Group and Brother International (India) Pvt Ltd. are the major companies operating in the India Inkjet Printer Market.
What years does this India Inkjet Printer Market cover, and what was the market size in 2023?
In 2023, the India Inkjet Printer Market size was estimated at USD 43.49 billion. The report covers the India Inkjet Printer Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Inkjet Printer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Inkjet Printer Industry Report
Statistics for the 2024 India Inkjet Printer market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. India Inkjet Printer analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
