Coding and Marking Equipment Market to Grow by USD 1.46 Billion (2024-2028)

The global coding and marking equipment market size is estimated to grow by USD 1.46 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.89% during the forecast period. Increasing need for product traceability is driving market growth, with a trend towards deploying of equipment leasing business model. However, high operational costs poses a challenge.

The Coding and Marking Equipment market is witnessing significant growth in various industries such as Food and Beverage, Pharmaceuticals and Healthcare, Electronics, Aerospace and Defense, and Food packaging. Trends like flexible packs, medical equipment, and brand protection are driving the demand for advanced marking solutions. Food safety is a major concern, leading to increased adoption of traceability tags, serialization, disinfectants, masks, and sanitizers. Inkjet printers, laser markers, and thermal transfer printers are popular choices for product labeling and secondary packaging materials. Online transactions and variable data printing are transforming the market, with high-resolution inkjet coders and RFID tagging gaining popularity. 

The Pharmaceutical industry is a key market, with pharmaceutical producers requiring unique product identifiers to combat counterfeit pharmaceuticals. Continuous Inkjet (CIJ) and Thermal Inkjet (TIJ) technology, Linx laser coders, and artwork management systems are essential tools for information display and labeling. PET bottles, containers, aluminum, and labeling systems are common packaging types. Continuous inkjet ink, solvent products, and SIS Ink Solution cater to the diverse needs of the market.

Organizations face high running costs when investing in coding and marking equipment. To mitigate this constraint, companies are increasingly turning to equipment leasing options. Leasing simplifies the coding and marking process by reducing expenses on maintenance, servicing, and disposal. Leasing companies provide maintenance and servicing solutions, making it an attractive option for businesses. This model is particularly popular among Small and Medium Enterprises (SMEs), as it eliminates the need for large upfront investments, preserves working capital, and frees up cash flow for other business activities. Leasing offers numerous benefits, including flexible payment plans, the ability to deploy printers as needed, line optimization, future-proof solutions, minimal downtime, and avoidance of equipment depreciation.