Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Global UV LED Printer Market Overview
UV LED printer refers to the inkjet printing methodology of hard underlying substance. These printers are generally used to print on various materials such as plastic, glass, textile and other materials. These printers are gaining traction in the end use industries due to their fast printing and immediate drying features. Further, newly developed UV LED printers are offering advanced features such as accurate, high resolution, variable color per dot and printing on metal and ceramic tiles. UV LED printers offer better color contrast as compared to other printing technologies and are capable to print different shape and size objects.
Market Size and Forecast
Global UV LED printer market reached USD 278.3 Million in terms of size in 2016 and is expected to reach USD 555.5 Million by the end of 2024, expanding at a CAGR of 9.2% over the forecast period i.e. 2017-2024. Moreover, the growth of UV LED printer market can be attributed to the wide scale applications of UV LED printers such as printing packaging and labeling of products, printing on wood material and others.In the regional platform, North America is slated to account for a market share of 24.7% in the terms of revenue by 2024 in the UV LED printer market. The growth in the region is anticipated to be fostered by the increasing fashion trends for printing accessories. Besides, positive GDP growth coupled with advancement in UV LED printer is also expected to impel the growth of UV LED printer market in the North America region. Likely, U.S. and Canada are the prominent market in the region.
Asia Pacific is expected to showcase lucrative growth over the forecast period i.e. 2017-2024 by registering a respectable CAGR over the forecasted period. Europe market is expected to expand at a CAGR of 7.5% during the forecast period i.e. 2017-2024. Further, Germany & Italy is the major contributor to the growth of UV LED printer market. Surging adoption of UV LED printer owing to its technological benefits such as high printing speed, durability and high print quality is escalating the market of UV LED printer in Europe.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global UV LED printer market in the following segments:
By Type
By Format Type
By Ink System
By End Use
By Region
Global UV LED printer market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Printing industry has been witnessing continuous enhancements in printing technologies. UV LED printers are capable of printing near every material such as aluminum, plastic, glass and other materials. Moreover, UV LED printer finds number of uses in various end use industries. Further, wide scale applications of UV LED printers such as printing and packaging of products are anticipated to foster the growth of global UV LED printer market.Furthermore, rising adoption of eco-friendly technology and energy saving solutions is expected to increase the sales of UV LED printers in near future. In addition, UV LED printers are able to print 3D objects and various dissimilar objects such as end use and industrial products.In contrast, high cost of UV LED printers is the major factor restraining the growth of global UV LED printer market. Further, declining demand for UV LED printer in European Union due to the economic crisis is expected to negatively impact the growth of global UV LED printer market.
Key players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The Global UV LED printer market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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