The global Rotogravure printing machine market features a highly fragmented and competitive vendor landscape, with the leading seven companies collectively accounting for a mere 41% of the market in 2017, observes Transparency Market Research in a recent report. Of these leading few, the company Bobst Group SA accounted for a significant 41.5% of the market in the said year. The dominant spot of the company in the market is owing to its extensive product and service portfolio, high investments in research and development activities, and a strong production and sales network that is spread across the globe.
For companies to gain lucrative returns in the market, focus on expansion across lucrative regional markets could be a promising growth strategy. Some of the leading companies in the market are J M Heaford Ltd, Comexi Group S.L., DCM-ATN, Windmoeller & Hoelscher Corporation, Uteco Converting SpA, ROTATEK S.A, and KKA Gmbh.
TMR analysts state that the revenue generated from sales of Rotogravure printing machines for retail merchandising has been estimated to be around US$1.63 bn in 2016, and is projected to expand at a CAGR of 3.5% during forecast period 2017-2025, rising to a valuation of US$2,208.55 mn by 2025.
Of the key industries that utilize Rotogravure printing machines, the food industry is expected to dominate the market throughout the forecast period. The market is also expected to see major gains across the pharmaceutical and security printing industries over the forecast period, which are anticipated to register impressive CAGRs of 4.6% and 4.0%, respectively, over the report’s forecast period.
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APAC is expected to overtake the Europe rotogravure printing machine market and dominate the global market by the end of forecast period, in terms of both value and volume. The market in the APAC region is estimated to have an annual consumption of 7,533.68 units of rotogravure printing machines in 2017, and is predicted to up the consumption to 9,578.39 units by the end of the report’s forecast period.
Increased Shift in Consumer Preferences to Drive Demand for Rotogravure Printing Products
The global Rotogravure printing machine market has witnessed solid growth over the past few decades, chiefly owing to the changing lifestyles of the global population. The fast-paced lifestyles of urban dwellers has compelled them to switch to organized retail outlets such as supermarkets and hypermarkets, thereby giving a boost to the Rotogravure printing machine market. The increased awareness among retail companies that consumer preferences are increasingly being driven by the kind of branding created through Rotogravure printing machine could also work in the favor of the global Rotogravure printing machine market.