The Global Thermal Printing Market was worth USD 47.08 billion in 2023 and is anticipated to reach a valuation of USD 60.96 billion by 2029 from USD 49.16 billion in 2024. It is predicted to register a CAGR of 4.4% during the forecast period 2024-2029.
The use of heated pins to produce information on a thermal paper is called thermal printing. Thermal printers provide high-speed printing, owing to which they are used at the point of sales (POS) counters. There are two types of technology used, namely thermal transfer and direct thermal transfer. Both these methods employ a thermal print head that applies heat to the surface being marked. Thermal transform printing uses a heat-sensitive ribbon instead of heat-sensitive paper in order to produce long-lasting and durable print. It is predominantly used for live rhythm strips on hospital cardiac monitors. Thermal printing technology is one of three technologies, including injecting and electrography, which are used for industrial printing.
Increasing demand for thermal printers from the retailer, warehouse, logistics, and manufacturing sector is a significant factor that increases the growth of the thermal printer market.
Increasing adoption of wireless technology in mobile printers, rapid industrialization of emerging markets and strong distribution network of thermal manufacturers, improve in the implementation of automatic identification and data capture (AIDC) techniques for enhancing productivity, application of thermal printers in on-demand printing, mounting concerns for the safety of products and anti-counterfeiting, and increasing selection in the healthcare sector are the influential factors prompting the growth of the global Thermal Printer market.
The advancement of the retail sector is also predicted to fuel the global thermal printing market during the assessment period. Nowadays, retailers are offering rapid and efficient service to customers. Thermal printers are typically used for superior and high-speed solutions, which are not found in conventional impact printers. The thermal printer is cost-efficient as compared to conventional printers. Also, growing disposable income, the industrialization of emerging economies, and rising global population are the growth drivers of the global thermal printing market.
The poor image quality of barcode labels and complexity in heat setting of thermal barcode printers are the two key factors that are restraining the market growth. Launching of the new printing method is expected to interface the global thermal printing market. Emerging of novel technology is expected to control the market growth. RFID is an emerging and rapid advanced technology which has no substitute currently. Moreover, mobile barcoding, RFID, right part making, electronic self-labels are expected to pose a challenge to the thermal printing market.
Low (competitive) price offering from new entrants is presumed to restrain the growth of the thermal printing market over the forecast period. Thermal printer manufactures in China and India have easy access to the cheap raw material and labours where they can take less price product. It is impacting global market players drastically.
The primary factor that affects the growth of the global thermal printing market is the low quality of printed labels, as they are sensitive to heat, light, and abrasion. Also, thermal printers cannot be used for general printing, and coherent issues are some other factors restraining the growth of the global market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
4.4% |
Segments Covered |
By End-user Industry, Printer Type, and Region. |
Various Analyses Covered |
Global, Regional, & Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Zebra Technologies Corporation, TSC Auto Tech., Toshiba Tech Corporation, Honeywell International Inc., SATO, Brother International Corporation, Star Micronics Co. Ltd, Bixolon Co. Ltd, Citizen Holding Co. Ltd, Seiko Epson Corporation., and Others. |
The retail segment dominated the global market in 2023, accounting for a 29.7% share in terms of value, followed by manufacturing, transportation & logistics, and healthcare respectively.
Barcode printers are extensively used in small, medium, and large businesses and are expected to lead the thermal market.
North America takes the largest revenue share due to the increasing eclipse of thermal printers in various sectors such as logistics, smart packaging, warehousing, etc. The Europe market accounts for a significant revenue share in the target market. The Asia Pacific market is anticipated to extend its business during the outlook period, and this can happen due to rapid urbanization and development of the retail and e-commerce sectors in countries in this area.
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