European printer market loses momentum as Q2 demand weakens

CONTEXT said the European printer market lost momentum in the second quarter, with demand weakening across all major printer categories by Week 26.

Its latest review found that revenue from inkjet and laser multifunction and single-function printers had fallen below the 2025 weekly average by the end of the period, pointing to a broader slowdown in hardware purchasing through Europe's IT distribution channel.

Even so, consumer laser printers outperformed the wider market early in the quarter. Revenue in that segment rose 12% year on year and unit sales increased 19%, making it the strongest-performing category in the review.

Consumer inkjet printers also grew, with revenue up 13% and unit sales rising 4%, suggesting household demand held up better than business purchasing as the quarter progressed.

Business demand was weaker across both main technologies. Business inkjet printer sales fell 14% in units and 9% in revenue in early Q2, while business laser printers remained in decline, with unit sales down 1% and revenue 9% lower.

The rebound seen at the start of the quarter did not last. By Week 26, all major hardware categories had fallen back below last year's average weekly level, reversing the initial improvement.

"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, CONTEXT.

"Consumer demand has remained comparatively resilient, particularly for laser devices, while business purchasing continues to be more cautious," Gaudin said.

Regional split

The data also showed a mixed picture across Europe's larger national markets. Spain, Italy and the UK recorded stronger revenue performance in early Q2, while Germany, France and Poland saw more subdued trends.

In some of the stronger markets, refillable ink tank printers helped support sales values. That product mix shift has become more important as suppliers and channel partners face slower overall demand and lower average prices.

Price pressure remains a central feature of the market. Excluding a temporary uplift in the second quarter of 2025, average unweighted prices for both inkjet and laser printers have generally declined over the past two years.

The same trend has appeared in consumables. Prices for ink cartridges and refillable ink systems have also generally fallen, reflecting competition and changes in the mix of products sold.

Consumables shift

Beyond hardware, the volume of printing represented by consumables sales is changing. Since May 2022, the average number of printable pages sold has fallen 23% overall, according to the review.

Toner has dropped 21% over that period, while ink cartridges have fallen 41%. Ink bottles moved in the opposite direction, with printable page output rising 28%, underscoring the shift towards refillable ink tank systems.

That divergence matters because consumables have long been central to the economics of the printing business. A sharper decline in cartridge volumes, combined with lower prices, adds pressure on suppliers that rely on replacement sales after the initial hardware purchase.

The stronger performance of consumer laser devices also points to a shift in buyer preferences. While the overall market has cooled, consumers appear more willing than businesses to keep spending on certain printer types, even as replacement cycles begin to slow.

For business vendors, the challenge is different. Corporate customers have remained more restrained, especially in inkjet, and weaker revenue figures suggest lower volumes are being compounded by softer pricing.

That combination has left the market without a broad engine of growth. Consumer segments have provided support, but not enough to offset continued caution in business purchasing across the region.

CONTEXT tracks more than GBP 200 billion in annual technology sales transactions, giving its channel data a broad view of distribution activity across Europe and other markets. In this case, the figures point to a print hardware market that started the quarter on a stronger footing but then lost pace as demand softened.

By the end of the period covered in the review, the clearest divide in the market was between relatively resilient household demand and weaker business spending, with refillable ink systems remaining one of the few areas showing a structural shift in usage patterns rather than a cyclical fall in demand.