HP Industrial focuses on the Indian market

In the dynamic realm of industrial printing, HP sees growth and increased market share in both the commercial and label and packaging segments. 

According to Levit, the industrial printing market is experiencing a nuanced recovery post-Covid. The label and packaging sector, a key focus for HP, is rebounding compared to the previous year. HP sees last quarter of 2023 as a pivotal moment, marking its return to growth, with an optimistic outlook for the future. 

Levit says: ‘We are increasing market share on both the commercial and the label and packaging space. So overall, I'm quite pleased with the results. Looking specifically at the Indian market, we see a very high potential specifically in the commercial, labels and packaging space. We are working right now with two channel partners for commercial space and TechNova for label and packaging segment. I see a nice growth in impressions or pages that are printing in the country and walking around and hearing from our customers and partners sounds like that India is a market that is moving to the next level.’

Levit delved into the macro trends catalyzed by the Covid-19 pandemic, emphasizing the acceleration of customization, personalization, short runs, no inventory, e-commerce and automation. These trends are significantly reshaping the digital printing landscape, especially in the label and packaging space. HP is aligning its product portfolio with these trends. 

Across diverse sectors, Levit says that HP is witnessing robust business growth, particularly among small and medium-sized enterprises (SMBs). These enterprises, severely affected by the pandemic, are embracing digital transformation to elevate their products and services from local to national and global markets.  

The Indigo technology has propelled HP from being the fourth to the second-largest player, increasing market share by 10 points, from 13 to 23 percent, according to Levit. HP Indigo sold around 60 units of HP Indigo 6K at Labelexpo Europe 2023.

Additionally, HP introduced the 200k for the flexible packaging market, and the highly anticipated V12 digital press is in beta phase in Europe and Americas. HP is considering selling the V12 press in India in the second-half of 2024 after the product is stabilized. 

‘Before we introduced the V12, we could capture 20 percent of the addressable applications. With the V12 and its speed, we will be able to capture 80 percent of the applications. So that means that we are going after the bigger pie and we are providing our customers the tools to be able to go for short run and long runs,’ Levit adds.

He notes that India will soon be among the biggest economy in the world. ‘And we will continue to invest in India and increase our coverage through HP and channel partners. And we are already running a big hub for refurbishing our spare parts as a part of our sustainability philosophy. Around 80 percent of our spare parts are going back into the field.’