Global thermal printhead market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. The thermal printhead is also termed, as direct thermal printing is a digital printing process the latest technology that produces a printed image by heating coated thermal paper or thermochromic paper. The heated area of paper turns black by producing an image. The three major components of the thermal printhead are spring, a thermal head, and the platen.
The factors that are playing a major role in the growth of thermal printhead market are the rising use of latest innovations, outstanding speed and picture quality, the rising demand from the end-users, and increasing use of enhanced technology. However, the high cost of raw materials may restrain overall market growth in the years to come. Thermal printhead market is segmented based on type, product type, application, and region.
Corner edge, line type, true edge, and other types could be explored in the thermal printhead in the forecast period. Thick film and thin film thermal printhead are the product types that could be explored in the thermal printhead in the forecast period.
The market may be categorized based on applications like POS terminals, self-adhesive labels, plotting and recording, barcode/label aspects, fax machine, ATM, handheld printers, and others could be explored in the thermal printhead in the forecast period.
Globally, North America accounted for the substantial market share of thermal printhead and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region, the rising use of enhanced technology for the latest innovations, and the rising demand for the thermal printhead. The United States is a major consumer of the thermal printhead in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of the thermal printhead in this region.
The key players of the thermal printhead market are Shandong Hualing, Toshiba Hokuto Electronics Co, Mitsubishi Electric, AOI Electronics, Kyocera, Printronix, ROHM, Gulton, and Mitani Micro. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
• North America
• Asia Pacific
• Middle East and Africa
• South America
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Key Questions Answered in this Report
• What will the market size be in 2023?
• What are the key factors driving the global thermal printhead market?
• What are the challenges to market growth?
• Who are the key players in the thermal printhead market?
• What are the market opportunities and threats faced by the key players?
Research Support Specialist, USA