Printers that produce image by heating, either through some thermochromic paper or substrate such as ribbon made up of plastic are referred to as the thermal printers. The process takes place in such a way that substrate is passed over the print head, the print head heats up the substrate coating turning it black, and produces image. The thermal transfer printers are used to print barcodes, invoices, receipt, and tags. XploreMR recently released a research report on the global thermal printer market. As indicated by the report, the global market for thermal printer is slated to expand 1.84x by volume, whereas the market value is expected to exhibit 6.6% CAGR over the forecast period, 2018-2026.
There are two key types of thermal printers used in the market, direct thermal printers and thermal transfer printers. Direct thermal printers are further segmented into – the direct thermal industrial printers, direct thermal desktop printers and direct thermal mobile printers. Thermal transfer printers are sub segmented into the thermal transfer industrial printers, thermal transfer desktop printers and thermal transfer mobile printers.
Thermal printers are majorly consumed from the end use such as retail & consumers goods, institutional and industrial. The retailers and consumers goods segment is sub segmented into grocery product, food & beverage, clothing & apparel and others. Institutional is further sub segmented into hospitality, hospital & healthcare and BFS. The thermal printers market is segmented on the basis of printing speed Below 4 IPS, 4-8 IPS and Above 8 IPS.
The report in its final section discusses some of the key players participating in the global thermal printer market landscape. This part of the report covers the strategic and financial status of the important contributors to the global market revenue. Some of the key vendors included in the report are Avery Dennison Inc., Seiko Epson Corporation, Toshiba Tec Corporation, Zebra Technologies Corp, TSC Auto ID Technology Co., Ltd, SATO Holdings Corporation, Honeywell International Inc., Bixolon Co., Ltd, HellermannTyton Group PLC, Connectivity Ltd, Brady Corporation, CognitiveTPG, LLC, Star Micronics, America, Inc., Bematech International Corporation, Gainscha Technology Group Company, Citizen Systems Japan Co., Ltd., Shandong New Beiyang Information Technology Co., Ltd, Shenzhen ICOD Digital Co., Ltd, TransAct Technologies Incorporated, and Domino Printing Sciences PLC. It has been found that the leading manufacturers are focusing on developing a standalone thermal printer with storage capacity to achieve cost efficiency and improved functionality.
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- The penetration of thermal printing technology for barcode printing is more than 85%, which is anticipated to increase in next few years.
- Growing adoption of flexible packaging will continue to generate the demand for barcode printing, eventually pushing the scenario of thermal printer market.
- Around 50% share of the total market value is being contributed by the retail and consumer goods sector.
- High speed, high performance, low cost, and low maintenance are the key attributes responsible for growing sales of thermal printers, worldwide.
- Mobiles printers are witnessing robust sales, especially in developing regional markets.