U.S. Printer and MFP Market Shares, 2024: Shipments Decline for Most Vendors as Economic Uncertainty Reigns.

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U.S. Printer and MFP Market Shares, 2024.
Shipments Decline for Most Vendors as Economic Uncertainty Reigns.
The U.S. printer and multifunction printer (MFP) market experienced a challenging year in 2024, with most vendors facing declining shipments amid ongoing economic uncertainty. According to a recent report by IDC (source), the market saw a downturn driven by reduced business investments, supply chain disruptions, and shifting consumer preferences. However, a growing and aggressive challenge from Chinese manufacturers is further threatening U.S. and Japanese vendors, intensifying the battle for market dominance.

Market Trends and Key Findings
Declining Shipments Across the Board – The IDC report highlights a notable decline in printer and MFP shipments, with leading vendors experiencing reduced demand from both corporate and consumer sectors.

Economic Factors at Play – Inflation, high interest rates, and cautious corporate spending have negatively impacted hardware investments, leading to reduced printer purchases.

Chinese Manufacturers Disrupting the Market – Brands such as Pantum and Ninestar, backed by Chinese government subsidies, are aggressively undercutting traditional vendors with cheaper models and competitive supply chain strategies.

Shift to Digital and Cloud Solutions – Businesses continue to transition toward digital documentation and cloud-based solutions, reducing dependency on traditional print hardware.

Performance of Major Vendors – While some vendors managed to retain market share through aggressive pricing and promotions, the overall market saw a contraction.

Vendor Performance and the China Factor
HP Inc. maintained its leading position but reported a shipment decline due to weakened demand from small businesses and enterprises. Meanwhile, Pantum, a rising Chinese competitor, continues to eat into HP’s market share by offering lower-cost alternatives.

Canon and Epson also faced shipment reductions, although strong sales in niche markets like photo printing and eco-friendly ink solutions provided some resilience. However, Chinese firms are increasingly targeting these segments as well.

Brother saw a mixed performance, with a decline in consumer printer sales but stable demand in office environments. Still, the growing presence of Chinese brands poses a long-term risk.

Lexmark and Xerox rely on print products manufactured by Ninestar, a Chinese company that has been raising concerns over its influence on the American market.

Market Outlook: A Battle for Survival
The outlook for 2025 remains uncertain, with the industry facing ongoing challenges but also opportunities in areas like subscription-based printing services, managed print solutions, and AI-driven document management. However, the biggest wildcard remains the increasing dominance of Chinese manufacturers, who are leveraging government subsidies, lower production costs, and aggressive pricing to disrupt the market.

If U.S. and Japanese vendors fail to respond effectively, they risk losing significant market share to their Chinese counterparts. As the market evolves, companies that innovate, protect their intellectual property, and align with changing business needs will have the best chance of maintaining competitiveness in this high-stakes battle.

For more details, access the full IDC report here.

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February 27, 2025 at 4:07 PM