Hardcopy Peripherals Shipments Increased by 1.2 Percent in 3Q22

Worldwide shipments of hardcopy peripherals grew 1.2% year over year to 21.2 million units in the third quarter of 2022 (3Q22), according to IDC. Shipment value increased 7.5% year over year during the quarter to $9.8 billion. Although container shipping space remained somewhat unpredictable in the quarter, some improvements helped produce year-over-year growth in the hardcopy peripherals market.

China and Asia/Pacific (excluding Japan and China) outperformed all other regional markets, posting year-over-year shipment growth of 12.7% and 6.4% respectively. Year-over-year growth in China was mainly driven by inkjet devices (up 58.2% year over year). One particular highlight was Huawei launching its ink tank series printers in 3Q22 as a new player in the market. Steady recovery in printing activity in commercial segments, including logistics, manufacturing, government, and financial institutions, also contributed to the year-over-year increase in these two regional markets.

Canon and Brother each delivered strong results in 3Q22 with year-over-year growth of 26.1% and 9.4% respectively. Canon's ink cartridge segment had a huge rebound compared to the same period last year. Furthermore, Canon's ink tank growth was supported by good allocations and strong demand in most countries. Like Canon, Brother's gains were helped by a healthy recovery in supply in many countries.

HP maintained the top spot among vendors with 7.72 million shipments, a 36.4% market share. The company dropped 9.9% compared with the same period in 2021. Canon jumped to second place with a 20.2% share on 4.328 million shipments. Epson dropped to third place with a 2.9% decline YoY to 4.06 million shipments and a 19.2% share. Brother kept fourth place with 2.03 million devices shipped and a 9.6% share. Pantum entered the top five with a 78.7% YoY growth. It has shipped 0.53 million devices and grabbed a 2.5% market share.