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Context: Print market slows in Q2
Hardware sales across Western Europe have declined in the past few weeks, while on the 3D front, the market remains buoyant
The European print hardware market has slowed in the past few weeks across all product categories, after initially starting Q2 fairly strongly.
Market analysis from Context indicated that sales through distribution lost momentum as the second quarter progressed, with inkjet, laser, single and multifunction products all declining when compared with weekly average sales in the same period last year.
Even with the slowdown, laser continued to be the main area providing channel cheer, with consumer printer revenues increasing in early Q2 by 12% year-on-year. Users were also spending on inkjets, with revenues improving on that front by 13%.
Things were more difficult on the commercial front, with demand from business users for inkjet printers declining by 14%, with laser printers also moving into negative territory, with revenues down by 1%.
Context placed the UK, along with Spain and Italy, as one of the countries that performed strongly in the quarter, with Germany, France and Poland suffering more muted demand.
“The positive comparisons against a weaker period last year helped lift results during the first part of Q2, but that momentum faded as the quarter progressed,” said Rémi Gaudin, senior analyst at Context. “Consumer demand has remained comparatively resilient, particularly for laser devices, while business purchasing continues to be more cautious.”
There has been talk of the paperless office for years, but the shift by customers towards more digital options is continuing, with Context noting that the average number of printable pages fell by 23%. The consequences of that could be seen in declines in toner, down by 21%, and ink cartridges (41%). Ink bottles now account for 28% of printable output and are gaining ground as a favoured method of refilling supplies.
3D printers
The performance of traditional printing products contrasted with the 3D printer market, which had a strong first quarter, according to Context.
When it came to that hardware category, healthy demand for entry-level products along with continued interest in high-end industrial systems led to a 32% increase in total hardware system revenues.
Entry-level unit sales improved by 39% with revenues up by 54%, and industrial products improved by 18% on the unit shipment front and 23% in revenues.
“The current market presents a disparate demand outlook,” said Chris Connery, vice-president of global analysis at Context. “While some vendors report exceptionally strong demand, especially related to global conflicts and defence initiatives, others report challenges associated with the many unknowns including ongoing global conflicts, fears of rising inflation, higher interest rates impacting capital investments, and a sluggish European economic environment.
“However, the strong performance of the industrial sector, marking its third consecutive quarter of growth after two years of declines, is a clear indicator of the technology’s continued integration into volume production.”
Vendors operating in the industrial systems market saw their volume of shipments increase across the major regions of Western Europe, North America and China.
When it came to manufacturer players in the entry-level space, they were led by Bambu Lab, Creality, Elegoo and Anycubic, collectively accounting for 88% of all printers shipped globally in the quarter.
