The inkjet printer market size is expected to reach USD 19.38 billion in 2023, growing at a CAGR of 6% from 2024 to 2032. The growing demand for printers in various sectors such as education, government, commercial, and housing is driving the demand for printers, especially inkjet printers with ink cartridges.
Inkjet printers offer high-quality, cost-effective and versatile printing options for a variety of applications and media. The growing shift from dry color ink cartridges to single-color cartridges is one of the main drivers of market growth, as tri-color cyan, magenta and yellow ink cartridges are being replaced by single-color cartridges with separate cartridges for each color. This allows users to replace only the color that is running out, reducing ink consumption and costs.
Growing awareness of the environmental impact of printers has led to the development of eco-friendly cartridges. Made from recyclable or biodegradable materials, these cartridges use less ink and leave a smaller carbon footprint. These cartridges are environmentally friendly and popular with environmentally conscious consumers.
The high price of cartridges makes them unaffordable for many consumers, prompting them to turn to alternative printing solutions such as laser printers with cartridges, refillable cartridges and counterfeit cartridges. The environmental impact of cartridges is the significant amount of plastic waste generated during their production and disposal, as well as the significant energy and water consumption. This not only threatens the sustainability of the market, but also creates pressure from environmental regulations and demands for consumer awareness.
Inkjet printers are popular with consumers due to their lower cost per print, longer print life, and lower environmental impact than inkjet or laser printers. Inkjet printers have high-capacity refillable cartridges, allowing you to print up to 1,000 pages without having to replace cartridges frequently. They also use less energy and produce less waste than other types of printers.
The demand for inkjet printers is growing rapidly in developing countries, especially in the Asia Pacific region where the education, business and government sectors are growing rapidly. The increasing penetration of personal computers and printers, the increase in the number of households and the growth in disposable income are some of the factors contributing to the growth in the demand for inkjet printers in these regions.
Printer cartridge recycling is another trend impacting the market as it helps reduce environmental impact and save money for both consumers and manufacturers. Printer cartridge recycling involves collecting, refilling, remanufacturing and reselling used cartridges, which helps reduce the amount of plastic and ink waste ending up in landfills.
Based on the type of product, the market can be divided into thermal and piezoelectric cartridges. The thermal cartridge market is expected to reach $14 billion by 2023. Inkjet printers use either thermal or piezoelectric technology to deposit ink onto paper. Thermal cartridges use a high-speed heating element to evaporate the ink, while piezoelectric cartridges use the vibration of a piezoelectric crystal to eject the ink. Thermal cartridges are more common and less expensive, but piezoelectric cartridges provide higher accuracy and more consistent printing results.
Based on the distribution channel, the inkjet printer market is divided into the online market and the offline market. In 2023, the offline market accounted for about 61% of the market. The retail distribution channel of inkjet printers is the way ink reaches the end consumer other than the printer. Although the distribution channels of inkjet printers vary, two main types can be identified. Online distribution channels include e-commerce platforms, websites, social media, and other digital channels that allow customers to order inkjet printers anytime and anywhere. Offline distribution channels include traditional stores, retailers, sellers, and distributors that sell inkjet printers to customers.
Based on end-use, the inkjet printer market can be segmented into commercial, home, government, education, and others. The commercial sector accounted for about 53% of the market in 2023. Inkjet printers are used by various end users for various purposes such as commercial, home, education, government, and others. The commercial sector is the largest and fastest growing as inkjet printers are widely used to print documents, labels, photos, and other materials across various industries.
The office sector is also an important market segment, as inkjet printers are essential for everyday tasks and communication in the workplace. Growth is expected in the education and government sectors, as inkjet printers are used to print educational materials, forms, and other documents.
North America dominates the inkjet printer market, reaching $6 billion in 2023. North America, especially the US and Canada, boasts a large market size and huge demand for inkjet printers. This demand is driven by a wide range of industries, including businesses, educational institutions, and households. North American companies such as HP, Canon, and Epson are at the forefront of inkjet printing technology. These companies are constantly innovating to improve printer performance, print quality, and cost-effectiveness, attracting more consumers around the world.
By 2023, market leaders such as HP Development Company, Seiko Iso Corporation, Samsung, Canon, and Panasonic will collectively hold 20-25% of the market. The market is highly fragmented. These industry leaders are actively pursuing strategic initiatives such as mergers and acquisitions, capacity expansion, and partnerships to expand their product portfolio, reach a wider customer base, and strengthen their market influence. These companies are continuously investing in R&D to improve their products and introduce new technologies to stay ahead of the competition.
Avinash Singh. March 2024 Inkjet Printer Market – By Product Type (Thermal, Piezoelectric), By Channel (Online, Offline), By End Use (Commercial, Consumer, Government, Education, Others) and Forecast, 2024-2032 (Report ID: GMI8501). Global Market Insights Inc. Retrieved August 21, 2025.
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Post time: Aug-21-2025