PUBLISHER: The Business Research Company | PRODUCT CODE: 1539624
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539624
A banknote printing machine is a specialized device utilized by government authorities or authorized agencies to manufacture paper currency. These machines incorporate advanced security features to prevent counterfeiting and uphold the integrity of the currency. They operate under stringent security protocols and play a crucial role in maintaining the supply and quality of legal tender within a country's economy.
In the banknote printing machine market, the primary components are solutions and services. Solutions encompass comprehensive systems and equipment provided by manufacturers for printing banknotes. Various production processes, such as intaglio printing, offset printing, silk screen printing, and letterpress printing, are employed by multiple end users including government authorities, private enterprises, and central banks.
The banknote printing machine market research report is one of a series of new reports from The Business Research Company that provides banknote printing machine market statistics, including the banknote printing machine industry global market size, regional shares, competitors with banknote printing machine market share, detailed banknote printing machine market segments, market trends, and opportunities, and any further data you may need to thrive in the banknote printing machine industry. These banknote printing machine market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The banknote printing machine market size has grown strongly in recent years. It will grow from $12.21 billion in 2023 to $13.35 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. Historic period growth stemmed from infrastructure development, high inflation rates, currency revaluations, cost-cutting initiatives, user education programs, and risk management in cash handling.
The banknote printing machine market size is expected to see strong growth in the next few years. It will grow to $19.20 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. Forecast period growth is driven by increased production capacities, heightened focus on quality control, emphasis on aesthetically appealing designs, urban expansion driving cash transactions, and ongoing efforts to combat counterfeiting. Key trends include AI-driven banknote machines, blockchain integration, increased use of cash recycling machines, adoption of hybrid cash solutions, and advancements in nanotechnology.
The anticipated expansion of currency circulation is set to drive growth in the banknote printing machine market. Currency circulation refers to the total amount of physical cash, including coins and banknotes, held by the public or within the banking system at any given time. It is influenced by various economic factors such as consumer spending, investments, governmental policies, and overall economic conditions. The increase in currency circulation boosts demand for banknote printing machines, which are essential for replacing worn-out bills and producing new currency to meet growing financial requirements. For example, according to the U.S. Currency Education Program provided by the Federal Reserve System, the volume of currency in circulation rose from 53.2 billion notes in 2021 to 54.1 billion notes in 2022, illustrating this trend. Therefore, the expansion of currency circulation is a key driver behind the growth of the banknote printing machine market.
Leading companies in the banknote printing machine market are focusing on technological advancements in printing technology and expanding their operations to incorporate advanced security features. These initiatives aim to enhance the quality and security of printed banknotes. The expanded capabilities enable larger-scale manufacturing, improved reliability, and increased customization options to meet the rising demands of national mints and central banks worldwide for secure and high-quality banknote production. For instance, in November 2023, Komori Corporation, a Japan-based printing press manufacturer, launched the Komori Global Center-Security (KGC-S), a state-of-the-art facility equipped with advanced security features. KGC-S specializes in providing cutting-edge security printing technologies for banknotes, including offset, intaglio, and numbering printing. Staffed by experts, KGC-S is dedicated to addressing customer challenges while adhering to principles of Power to the Print and Trust in Print.
In April 2023, Authentix, a US-based authentication company, completed the acquisition of Royal Joh. Enschede for an undisclosed sum. This strategic move is intended to bolster Authentix's capabilities in high-security printing and to support its expansion in programs serving governments, central banks, and commercial brand owners. The acquisition leverages Royal Joh. Enschede's expertise in producing high-quality security documents, such as banknotes, postage stamps, certificates, visas, and solutions for brand protection. Royal Joh. Enschede, headquartered in the Netherlands, is recognized for its advanced printing technologies and longstanding reputation in the security printing industry.
Major companies operating in the banknote printing machine market are Barry-Wehmiller, Giesecke+Devrient, Heidelberger Druckmaschinen AG, Konica Minolta Inc., Flint Group, Koenig & Bauer AG, Komori Corporation, Sicpa Holding SA, De La Rue plc, Crane Currency, Orell Fussli AG, Paul Leibinger GmbH & Co. KG, Tokyo Kikai Seisakusho Ltd., Nilpeter A/S, Tresu Group, Oberthur Fiduciaire SAS, Die bielomatik Leuze GmbH + Co. KG, Security Printing and Minting Corporation of India Limited (SPMCIL), Pasaban S.A., China Banknote Printing and Minting Corporation, Oumolat Security Printing LLC, Goebel Capital GmbH, SPS TechnoScreen GmbH, Goznak, Client Focus Technology Group Co. Ltd (CFTG)
North America was the largest region in the banknote printing machine market in 2023. The regions covered in the banknote printing machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the banknote printing machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The banknote printing machine market consists of revenues earned by entities by providing services such as manufacturing, distribution, installation, training, support, and troubleshooting and repair. The market value includes the value of related goods sold by the service provider or included within the service offering. The banknote printing machine market also includes sales of security printing machines, plate making systems, packaging systems, and banknote authentication devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Banknote Printing Machine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on banknote printing machine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for banknote printing machine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The banknote printing machine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.