In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Commercial Scrubbers and Sweepers Market Report. The global coding and marking market is likely to grow at a CAGR of 8% during 2020-2026.
New York, May 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Coding and Marking Market - Global Outlook and Forecast 2021-2026" - https://www.reportlinker.com/p05398690/?utm_source=GNW
This latest market research report includes the market size and growth forecast both for pre-COVID and post COVID period. The demand has increased due to the steady rise in production across end-user industries and the growing need to compete in the global market. A key area of focus for vendors in the coding and marking industry is to stay abreast with the regulatory updates. Various policies and regulatory frameworks associated with the coding and marking up of products across regions play a crucial role in shaping the industry’s growth.
Variations in the demand for coding and marking solutions have propelled the introduction of a diverse range of printing technologies. Key players in the industry today have a range of printing solutions and techniques to offer. The demand has varied across products such as beverage cans, bottles, engine chassis, and car interiors. This has pushed the need to install different printing techniques and a diverse range of printers suitable for different products. For instance, laser technology has witnessed a significant upswing as compared to the other traditional printing technologies such as Palm, TTO, and PIJ, among others.
The following factors are likely to contribute to the growth of the global coding and marking market during the forecast period:
• Increasing demand for traceability by end-users
• Significant rise in flexible packaging
• Rising application across end-user industries
• Rising demand from the healthcare industry
• Increasing demand for processed and packaged food
The report considers the present scenario of the global coding and marking market and its market dynamics for 2021?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.
GLOBAL CODING AND MARKING MARKET SEGMENTATION
The food and beverage end-user segment accounts for more than 50% of the global coding and marking market share. The growth in F&B end-user is attributed majorly due to the improving demographics across the globe, increasing investment and strict regulations by the government, and shift towards urbanization. Furthermore, the emergence of new potential markets across geographies and the multiplication of stock-keeping units (SKU) have further propelled the growth of food and beverage coding and marking equipment in recent years.
The healthcare sector is the second-largest end-user due to the high applicability across various devices and drugs. The growing investments in the sector by various governments, increase in geriatric population, the rise of communicable and non-communicable diseases, and availability of diverse medicine tracking software are set to drive the market for coding and marking solution providers. The adoption of coding and marking systems in the electrical & electronics industry is growing rapidly in recent years. According to the analyst, the electronics and electrical coding and marking equipment will witness the highest growth CAGR during the forecast period.
In 2020, consumables accounted for a share of 47% of the overall market revenue. The demand for consumables in the global market increased even during the pandemic of COVID-19 owing to huge requirements for inks and other consumables from the F&B industry and healthcare industry.
The high-speed printing and "quick-dry" nature of the CIJ coding solution will boost the continuous inkjet segment growth. The CIJ printing technology remains the largest segment in the global coding and marking market. Easy availability and high penetration within the market are driving the industry growth. Domino Printing Sciences is the leader in the field of CIJ technology. The company offers a wide array of CIJ solutions for several end-user industries.
The laser technology in the Asia-pacific region will remain a dominant revenue contributor to the global market. PIJ technology is gaining acceptance among commercial and industrial end-users. High-speed printing, long service life, and relatively low operating costs for end-users are major factors driving the PIJ technology demand in the global market.
Segmentation by End-User
• Food & Beverage
• Electrical Equipment & Electronics
• Chemical & Construction
• Automotive & Aerospace
• Other Industries
Segmentation by Product Mix
• Spare Parts & Aftermarket
Segmentation by Technology
INSIGHTS BY GEOGRAPHY
The Asia-Pacific region is witnessing the highest incremental growth during 2020-2026. The market in APAC is expected to witness a rapid growth rate due to the high demand for coding and marking equipment in various end-user industries during the forecast period. China is one of the major producers of consumer and industrial products globally. Thus, the demand for packaging, coding, and marking in major end-users has been increasing.
The presence of large F&B and pharmaceutical companies in the North American region will increase the demand for industrial coding and marking equipment in the region as manufacturers need to label their manufactured products. Furthermore, the investments in various sectors in North America have been witnessing a substantial increase. The biologic-based drugs, along with specialty drugs, witnessed a high growth rate in the market. The pharmaceutical segment is a leading revenue contributor in the North American region. The market in Western Europe is mature and likely to grow at a CAGR of over 7% during 2020-2026.
Segmentation by Geography
• North America
• Western Europe
• Latin America
• Middle East & Africa
o South Africa
o Saudi Arabia
• Central & Eastern Europe
The competitive scenario in the global coding and marking market is currently intensifying. The major players are providing high-quality products with additional features such as RFID systems and QR codes that are required to enhance the performance of their products. On the other hand, local vendors such as Macsa ID and Iconotech provide less expensive product offerings with basic features.
The five major leaders in the market are Danaher, Dover, Brother Industries (Domino Printing Sciences), Hitachi Industrial Equipment Systems, and ITW (Diagraph). All these companies have a global presence in three major geographical regions such as North America, APAC, and Europe. However, there are local vendors providing products with similar specifications at lower prices.
• Brother Industries
• Hitachi Industrial Equipment Systems
Other Prominent Vendors
• ANSER Coding
• Beijing Hi-Pack Coding
• Control Print
• EBS Ink-Jet Systeme GmbH
• Guangzhou EC-Pack Packaging Equipment
• ID Technology
• Koenig & Bauer Coding
• Kortho Coding and Marking
• Macsa ID
• Matthews International
• Paul Leibinger
• REA Elektronik
• SATO Holdings
• Squid Ink
• Weber Marking Systems
KEY QUESTIONS ANSWERED:
1 How big is the coding and marking market?
2 What are the segments covered in the coding and marking equipment market report?
3 What are the key factors driving the growth of the coding and marking equipment market?
4 What are the major trends in the coding & marking market?
5 Who are the major end-users for coding and marking technology?
6 Who are the key players in the coding and marking market?
Read the full report: https://www.reportlinker.com/p05398690/?utm_source=GNW
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