Marking and Coding Equipment Market is Estimated to Witness Significant Rise During the Forecasted Period

The worldwide marking and coding equipment market is assessed to esteem at US$ 1.3 billion out of 2022 and is projected to arrive at US$ 1.8 billion by 2027, at a CAGR of 5.6%.

A new market research report entitled Marking and Coding Equipment Market Size, Share, Growth, Industry Trends, and Forecast, done by our exploration group portrays the far reaching and cooperative investigation of industry during past, present, and conjecture periods. The report decides memorable development investigation and current situation of Marking and Coding Equipment Market place and expects to offer noteworthy experiences on worldwide market development projections.

The report sheds light on all the industry verticals like competitive market scenario, regional presence, and development opportunities. The next part covers the Marking and Coding Equipment Market competition landscape based on revenue and growth rate. Further, it explains market types, applications, and price analysis.

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The market is estimated to witness a 1.7x increase in revenue from 2017 to 2022. By 2017 end, the global marking and coding equipment market is expected to be valued at around US$ 1 Bn and is projected to reach a value of more than US$ 1.8 Bn by the end of 2027.

The global market is anticipated to reflect a CAGR of 5.6% throughout the period of forecast (2022-2027). The research report on the global marking and coding equipment market reveals the influence of various trends, challenges and drivers on the growth of the global market across key regions namely North America, Western Europe, Eastern Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA).

Global Marking and Coding Equipment Market: Competition Assessment

This fact based research study on the global marking and coding equipment market includes a detailed analysis of various companies participating in the global market such as Hitachi America, Ltd., Videojet Technologies, Inc., Markem-Imaje Corporation, Domino Printing Sciences plc., Interactive Coding Equipment (ICE), TYKMA Electrox, Inc., Squid Ink Manufacturing Inc., ATD Ltd., Open Date Systems, Inc., MACSA ID S.A, RN Mark Inc., Diagraph Corporation, Linx Printing Technologies, Numeric Marking Systems, Control Print Ltd., Durable Technologies, REA Elektronik GmbH, Matthews International Corporation, INKJET, Inc., and KGK Marking Technologies Group.

An in-depth market segmentation has been carried out to cover every angle of the market in order to portray a realistic market scenario. The report reflects historical data, current market scenario as well as future market estimates for a period of 10 years from 2022 till 2027.

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Global Marking and Coding Equipment Market: Factors Influencing Growth

Factors such as a positive retail sector outlook, seamless integration with active packaging solutions, rising demand from the chemical packaging industry, new product launches, advancements in laser marking technology, high growth in the food industry and increasing use of marking and coding equipment in the building and construction material industry across the globe are expected to fuel revenue growth of the global marking and coding equipment market.

Few aspects such as political crisis, intense competition, high cost of consumables and uneven size package coding leading to increased cost are anticipated to pose hindrances to the growth of the global marking and coding equipment market.

Global Marking and Coding Equipment Market: Vital Forecast Highlights

The global marking and coding equipment market is expected to grow at a CAGR of 5.5% throughout the period of forecast and is estimated to reach a value of US$ 1770 Mn by the end of the assessment year.

Global Marking and Coding Equipment Market: Analysis of Various Segments

The global marking and coding equipment market has been segmented by technology type, by application type, by end use and by region.

• By technology type, the continuous inkjet printer segment is the largest with respect to market value and dominates the global market. On the other hand, laser coding systems have gained high traction and this is the second largest segment, projected to grow at the highest rate to register a CAGR of 6.5% during the forecast period.
• By region, Asia Pacific excluding Japan (APEJ) is the most attractive and the marking and coding equipment market in this region is estimated to reach a high value of around US$ 710 Mn by 2027 end.
• By application, the rigid packaging segment is likely to dominate the global market with a higher market share in terms of both value and volume in the years to follow. The flexible packaging application segment is projected to grow at 5.8% CAGR during the 2022 – 2027 timeline
• By end use, the food segment is expected to exhibit high potential for growth in the global marking and coding equipment market. This segment is anticipated to lead the global market in terms of value and is estimated to reach a high valuation of about US$ 784 Mn by the end of the forecast period.

What is the Repercussion of COVID-19 on Marking and Coding Equipment Market?

The demand for marking and coding equipment industry as well as other equipment industry have seen a decline due to the impact of COVID-19. Across the globe, the disruption in production and supply chain of products has reduced the demand for marking and coding equipment.

Nevertheless, it has been observed that some of the big players in the pharmaceutical market opted for marking and coding equipment for essential purpose which has ultimately propel the market growth for marking and coding equipment.

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