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Market Insights - Global Thermal Printing Market

Market Overview

Thermal printing is a digital printing process, which is used to produce a printed image by selectively heating thermal paper when the paper passes over the thermal print head. There are two types of printing technologies namely thermal transfer and direct thermal transfer. Both methods use a thermal print head that applies heat to the surface being marked. Moreover, thermal transform printing uses a heat-sensitive ribbon instead of heat-sensitive paper, in order to produce long-lasting, durable prints. Thermal printing is predominantly used for labeling shipping products and for recording live rhythm strips on hospital cardiac monitors.

The global thermal printing market is estimated to account for US$ 4,349.9 Mn in terms of value by the end of 2019.

Market Dynamics- Drivers

  1. Growing expansion of retail industry is expected to drive the global thermal printing market growth during the forecast period

Retailers are consistently focused on their point of sale (POS) experience by offering rapid and efficient services to customers. Thermal printing is typically used for superior and high-speed solutions, which is not found in case of conventional impact printers. Moreover, thermal printers are cost-efficient as compared to conventional printers, thereby driving its adoption. Numerous retail stores in Europe and North America and Europe have started adopting thermal printers over impact printers. According to CMI analysis, APEJ is expected to account for around half of the sales by the world’s top fifty largest economies and would be twice that of North America, the next largest region in the retail sector in the next five years.

  1. Growing global population and increasing disposable income is expected to propel the global thermal printing market growth over the forecast period

Increasing disposable income due to rapid urbanization is expected to create hundreds of millions of middle class households in Asia Pacific. This, in turn, is expected to drive the number of discretionary purchases especially from supermarkets and major retail stores. According to United Nations (UN), global population is expected to increase from 7.2 billion in 2013 to 9.6 billion by 2050. According to the same source, this will be coupled with growth in GDP of emerging economies such as India, Brazil, South Africa, and China. This, in turn, is expected to boost the market growth over the forecast period.

Asia Pacific region dominated the global thermal printing market in 2018, accounting for 32.6% share in terms of value, followed by Europe, North America, Middle East & Africa, and Latin America, respectively

Thermal Printing  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Competitive Price offering from new entrants is expected to restrain growth of the global thermal printing market over the forecast period

Intense competition among thermal printer manufacturers is expected to restrict the market growth in the near future. Thermal printer manufacturers situated in China and India have easy access to cheap raw materials and labors where they can price products low. This, in turn, is expected to impact global market players significantly. Increasing functionality and performance, coupled with decreasing prices in developed economies such as North America and Europe have made it challenging for key market players to compete with manufacturers from emerging economies. This is expected to hinder the market growth over the forecast period.

  1. Emergence of new printing methods is expected to hamper the global thermal printing market during the forecast period

Although thermal printing technology is superior to laser and ink-based printing for various applications, emergence of novel technology is expected to hinder the market growth. RFID is an emerging and rapidly advancing technology, which currently has no substitute. Moreover, thermal printing has no near threat though number of emerging novel technologies is likely to hamper its market share in the near future. Moreover, electronic shelf labels, RFID, mobile barcoding, direct-part making are expected to pose threat to the market.

Market Opportunities

  1. Growing use of thermal printers in healthcare sector is expected to pose lucrative growth opportunities

Thermal printers are used predominantly in healthcare sector for recording live rhythm strips on hospital cardiac monitors. Increasing prevalence of cardiovascular disease is expected to increase adoption of thermal printers for recording live rhythm strips, which in turn, is expected to pose lucrative growth opportunities for market players during the forecast period.

  1. Increasing demand for thermal barcode printers in supply chain industry is expected to offer excellent business growth opportunities

Thermal barcodes are extensively used in supply chain industry for managing and handling different activities, information, and resources. Moreover, thermal barcode provides convenience and cost-effective solutions for management of goods, which in turn, is expected to drive the demand for thermal barcode printers from supply chain industry in the near future.

Thermal Printing  | Coherent Market Insights

Source: Coherent Market Insights

Global direct thermal based thermal printing market was valued at US$ 2,389.6 Mn in 2018 and is forecasted to reach a value of US$ 3,213.6 Mn by 2027 at a CAGR of 3.1% between 2017 and 2027.

Market Trends

  1. Significant growth potential in emerging economies

Increasing disposable income and rampant urbanization in emerging economies from Eastern Europe, Latin America, and APEJ are creating lucrative environment for retail sector. This, in turn, is expected to drive the thermal printing market growth in these regions. For instance, according to CMI analysis, Asia Pacific Market is expected to witness highest CAGR during the forecast period, followed by Eastern Europe. Growing population in Asia Pacific and Middle East & Africa is expected to boost the thermal printing market growth.

  1. Transition to portable thermal printers is major trend in the market

Development in advanced technologies has enabled the production of portable thermal printers. Direct thermal printheads are the smallest and the lightest available thermal printers. Moreover, portable thermal printers require significantly low energy and are smaller in size. These printers operate on low voltage, which are expected to drive its penetration in the market. Furthermore, incorporation wireless technologies in thermal printers is expected to enhance the quality and printing speed.

Segment information:

In Global Thermal Printing market, by end-use industry segment, the retail sub-segment dominated the global market in 2018, accounting for 29.7% share in terms of value, followed by manufacturing, transportation & logistics, and healthcare, respectively.

Thermal Printing  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Key players operating in the global thermal printing market are Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., Toshiba TEC Corporation, Honeywell International, Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, and Brother International Corporation.

Key Developments

  1. Key players in the market are focused on product launch, in order to gain competitive edge in the market. For instance, in May 2018, Zebra Technologies introduced next-generation thermal desktop printers ZD420 and ZD620, enabled with ‘Print DNA’ software.
  2. Key companies in the market are involved in product development, in order to expand their product portfolio. For instance, in January 2019, TSC Auto ID Technology Co., Ltd. introduced Industrial Label Printer ML240 Series.

Thermal printing is defined as a digital printing process which utilizes heat and produce printed image from a thermal paper (thermochromic paper). Thermal printing is an advanced and innovative printing technologies that is used for printing in several end use industries such as retail, manufacturing, transportation, and others. Moreover, increase in adoption of thermal printing technology in healthcare sector and noteworthy growth opportunities for manufacturers in emerging economies are the major drivers that are boosting the global thermal printing market.

Market Dynamics                             

Rising need for productivity improvement and increase in usage of thermal printers in on-demand applications are the factors driving the growth of thermal printers market. Moreover, rapid transformation from traditional printers to portable thermal printers, rising demand for thermal printers in healthcare sector and strong distribution network of thermal printer manufacturers are the major factors that are boosting the growth of thermal printers market across the globe.

However, increase in strict printing regulations and rising cost of direct thermal printing due to unavailability of heat sensitive materials are some of the restraining factors that are expected to hamper the growth of the global thermal printing market.

Market Taxonomy

This report segments the global thermal printing market on the basis of technology, printer type, and end-use industry. On the basis of technology, the global thermal printing market is segmented into direct thermal and thermal transfer. On the basis of printer type, the market is segmented into PoS printer, label and tag printer, and RFID printer. On the basis of end-use industry, the market is segmented into transportation & logistics, retail, healthcare, manufacturing, and others.

Key features of the study:

  • This report provides an in-depth analysis of the global thermal printing market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global thermal printing market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., Toshiba TEC Corporation, Honeywell International, Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, and Brother International Corporation.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global thermal printing market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global thermal printing market

Detailed Segmentation:

  •  Global Thermal Printing Market, By Technology:
    • Direct Thermal
    • Thermal Transfer
  •  Global Thermal printing Market, By Printer Type:
    • PoS Printer
    • Label and Tag Printer
    • RFID Printer
  •  Global Thermal printing Market, By End-use Industry:
    • Transportation and Logistics
    • Retail
    • Healthcare
    • Manufacturing
    • Others
  • Company Profiles
    • Zebra Technologies Corporation *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • TSC Auto ID Technology Co., Ltd.
    • Toshiba TEC Corporation
    • Honeywell International, Inc.
    • Bixolon Co., Ltd.
    • Citizen Holdings Co., Ltd.
    • Star Micronics Co., Ltd.
    • Seiko Epson Corporation
    • SATO Holdings Corporation
    • Brother International Corporation

*Browse all the market data tables and figures on "Global Thermal Printing Market - Forecast to 2027”

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Technology
      • Market Snippet, By Printer Type
      • Market Snippet, By End-use Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Product Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Thermal Printing Market, By Technology, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Direct Thermal
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Thermal Transfer
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Thermal Printing Market, By Printer Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • PoS Printer
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Label and Tag Printer
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • RFID Printer
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Thermal Printing Market, By End-use Industry, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Transportation & Logistics
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Retail
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Manufacturing
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Global Thermal Printing Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Printer Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Printer Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Printer Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Printer Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Printer Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • Zebra Technologies Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TSC Auto ID Technology Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Toshiba TEC Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Honeywell International, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bixolon Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Citizen Holdings Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Star Micronics Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Seiko Epson Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SATO Holdings Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Brother International Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on "Thermal Printing Market - Global forecast to 2027”.

Frequently Asked Questions

The global thermal printing market is estimated to exhibit a CAGR of 4.0% over the forecast period (2019-2027).
The global thermal printing market is estimated to reach US$ 5,963.4 million by 2027.
Major players operating in the global thermal printing market include Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., Toshiba TEC Corporation, Honeywell International, Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, and Brother International Corporation.
Growing expansion of retail industry, coupled with increasing global population and rising disposable income are some of the major factors that are expected to propel growth of the market over the forecast period.
Competitive Price offering from new entrants and emergence of new printing methods are some of the major factors that are expected to hamper growth of the market.
Among regions, Asia Pacific held a dominant position in the global thermal printing market in 2018, accounting for 32.6% share, in terms of value, followed by Europe, North America, Middle East & Africa, and Latin America, respectively.
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