Laser Printer Market Size

Laser Printer Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The world's laser printer market is expected to grow significantly in the coming years. The current market of $2.26 billion in 2024 is expected to grow to $5.08 billion by 2032. The CAGR is 10.62% over the forecast period. The main driving force is the increasing demand for high-quality printing solutions in the commercial and residential sectors. In the coming years, the use of the renowned speed and accuracy of the laser printers will increase significantly. In addition, the development of printing technology, the integration of smart features and the rising popularity of green printing solutions will also contribute to the growth of the market. Companies are increasingly investing in R & D to improve the performance of laser printers, such as wireless printing and mobile printing. HP Inc., Canon Inc. and Brother Industries are the three main players in the market. HP has recently launched a series of compact, small business-focused laser printers, which is a good example of how to meet the needs of users with new products.

Regional Market Size

Regional Deep Dive

The demand for the laser printer is strong across all regions. This demand is driven by the increasing demand for high-quality printing solutions in both the commercial and the residential sectors. In North America, the market is influenced by technological innovations and a strong emphasis on the environment. In Europe, a wide range of applications and a regulatory framework that promotes green practices are expected to drive the market. The Asian-Pacific region is characterized by rapid urbanization and a growing IT sector. In the Middle East and Africa, the technology is being adopted slowly, which is mainly due to the lack of necessary infrastructure. Latin America is experiencing a shift towards cost-effective printing solutions, as companies seek to optimize their operating efficiency.

North America

• The growth in home-based work has pushed the demand for home-office equipment, including laser printers, as individuals seek reliable and cost-effective printing solutions.
• HP and Canon are spending heavily on R&D to develop energy-efficient laser printers that meet the strictest energy standards, such as the Energy Star.
• The digital transformation of business is driving the integration of cloud-based solutions into the printers, making them more accessible and versatile.

Europe

• The Green Deal of the European Union stimulates the manufacturers to develop more sustainable printing technology, and in this way to produce more eco-friendly, less wasteful and more energy-efficient laser printers.
• Besides Brother and Epson, there are other manufacturers of office equipment, whose products are expanding in the direction of multi-function laser printers, which are in great demand in the market for versatile office equipment.
• The disposal of waste in Germany has led to changes in the design and life-cycle of laser printers, which have influenced the development of a circular economy.

Asia-Pacific

• In the countries of Asia, where the rate of urbanization is high and the number of small and medium-sized enterprises (SME) is growing, the demand for cheap, efficient and reliable printers is growing.
• Companies like Ricoh and Konica Minolta are pushing ahead with the development of mobile printing, enabling people to print directly from their mobile phones and tablets.
• The government has made the purchase of the laser printer a priority for the public administration and the educational system, thus facilitating the work of both.

MEA

• The Gulf Cooperation Council (GCC) countries have seen an increase in the number of investment projects in recent years. This has led to an increase in demand for laser printers in the construction and engineering sectors.
• It is here that companies such as Xerox and Lexmark are growing, offering tailored solutions for the needs of the region's companies and governments.
• In the MEA region, the cultural emphasis on quality and reliability in business operations is a key factor in the preference for laser printers over inkjet alternatives.

Latin America

• In countries like Brazil and Mexico, which are experiencing a revival of their economies, there is a resurgence of interest in office automation, and in particular in the laser printer, as businesses seek to modernize their operations.
• There is a growing local industry of low-cost laser printers for small offices in the region.
• Governmental initiatives to promote the provision of technology in schools and other educational institutions are creating an increased demand for laser printers.

Did You Know?

“Laser printers produce excellent results at up to 100 pages per minute, making them the best choice for high-volume printing.” — International Data Corporation (IDC)

Segmental Market Size

The laser printer market is growing steadily at present, mainly because of the rising demand for high-quality printing in both the business and private sectors. In addition, the need for efficient document management and the growing trend towards home working are important growth drivers. Furthermore, the technical developments in the field of laser printing, such as faster print speeds and lower energy consumption, are making them even more attractive for both consumers and businesses.

HP, Canon, and Brother have the most advanced products, and the most extensive distribution networks. In the office, in the educational institutions, in the hospitals, where high-speed printing is essential, these companies have the greatest market share. In addition, the 'green' movement is a driving force, with manufacturers developing more energy-efficient products, and the introduction of toner cartridges that can be recycled. Also, the development of cloud and mobile printing is reshaping the market, making the printers more accessible and easy to use.

Future Outlook

The market for a laser printer is expected to grow significantly from 2024 to 2032, with a projected CAGR of 10.62%. This growth is driven by the increasing demand for high-quality printing solutions in both commercial and private households. In addition, with the growing emphasis on efficiency and cost reduction, the laser printer is becoming the preferred choice of business users due to its superior speed, quality and lower cost per page. In 2032, the share of the total printing market for the laser printer is expected to reach 35%, compared to 27% in 2024, which is a sign of the laser printer's penetration into the various industries.

The market for laser printers is expected to be boosted by the integration of artificial intelligence and cloud computing. These will bring with them features such as self-diagnosis, automatic supply ordering, and a full digital connection to the printer, which will make them even more attractive to companies looking to improve their efficiency. Meanwhile, the drive towards greener and more sustainable practices will drive the demand for energy-efficient printers that use less energy and produce less waste. The market for green printing solutions will grow as companies adopt more sustainable policies.

The trend towards remote working and digital documentation will also have a significant impact on the future of the market. As more and more employees work from home, the demand for compact, high-performance laser printers for home offices will increase. In addition, the digital transformation of industries will continue to require reliable printing solutions capable of covering a wide range of printing needs, from high-volume production to specialised applications. In short, the laser printer market will continue to evolve dynamically, driven by technological innovation, changes in customer preferences and the growing importance of sustainability.