Portland, OR, Sept. 22, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global banknote printing machine market generated $11.3 billion in 2021, and is projected to reach $29.7 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $11.3 billion |
| Market Size in 2031 | $29.7 billion |
| CAGR | 10.4% |
| No. of Pages in Report | 325 |
| Segments Covered | Component, Production Process, End-User, And Region |
| Drivers | Increase in cases of currency counterfeiting and terrorist funding |
| Surge in number of security breaches in banknote circulation | |
| Opportunities | Presence of government regulations & policies regarding clean banknote policies |
| The emergence of big data analytics in banknote printing machine | |
| Restrains | Rise in acceptance of digital money |
| Government initiatives for cashless transactions |
COVID-19 Scenario:
- The COVID-19 pandemic has had a negative impact on the growth of the global banknote printing machine market, owing to the strict regulatory restrictions imposed by the governments of various countries around the world.
- The number of workforces in the industry was significantly curbed to work due to the prevalence of strict social distancing restrictions imposed by the government so as to limit the spread of the virus during the pandemic.
- In addition, more and more people increasingly inclined toward cashless transactions during the pandemic to safeguard against the novel virus. Thus, several vendors have reported a reduction in their industrial profit during the second quarter of 2020.
- Lack of customer support, absences, a difference in working patterns, and short-term orders for low volumes, as well as the ability to react to short delivery times further aggravated the impact on the market.
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The report offers detailed segmentation of the global banknote printing machine market based on component, production process, end-user, and region.
Based on component, the solution segment held the largest market share in 2021, holding around two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The services segment, on the other hand, is expected to cite the fastest CAGR of 12.0% during the forecast period.
Based on production process, the offset printing segment held the dominating market share in 2021, holding nearly two-fifths of the global market. The intaglio printing segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 12.1% during the forecast period.
Based on end user, the central banks segment held the largest market share in 2021, holding two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The government authorities and private enterprises segment, on the other hand, is expected to cite the fastest CAGR of 11.9% during the forecast period.
Based on region, the market across North America held the largest market share in 2021, holding nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.6% during the forecast period.
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The key players analyzed in the global banknote printing machine market report include Barry-Wehmiller Companies, Bobst Group SA, Cash Processing Solutions (CPS), Crane Holdings, Co., Flint Group, Focus Technology Co., Ltd., Goebel Capital GmbH, Heidelberger Druckmaschinen AG, Koenig & Bauer AG, Komori Corporation, Konica Minolta, Inc., Oumolat Security Printing LLC, Pasaban S.A., Security Printing & Minting Corporation of India Ltd., Shenzhen CBPM-KEXIN Banking Technology Co., Ltd, SPS TechnoScreen GmbH, and Tangem AG.
The report analyzes these key players in the global banknote printing machine market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global banknote printing machine market forecast along with current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global banknote printing machine market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The banknote printing machine market analysis from 2021 to 2031 is provided to determine the market potential.
Key Market Segments
Component
- Solution
- Solution Type
- Hybrid Substrates
- Pure Polymer Substrates
- Superior Carnishes and Coatings
- Solution Type
- Services
- Service Type
- Professional Service
- Managed Service
- Service Type
Production Process
- Offset Printing
- Intaglio Printing
- Letterpress Printing
- Silk screen printing
End User
- Government Authorities and Private Enterprises
- Central Banks
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, Mexico, UAE, Saudi Arabia, South Africa, Rest of LAMEA)
“We have also published few syndicated market studies in the similar area that might be of your interest. Below is the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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