The annual value of new banknotes printed in the United States varied significantly between 2002 and 2023, showing a clear downward trend in recent years. The peak was in 2012, when the Bureau of Engraving and Printing produced banknotes valued at 386.6 billion U.S. dollars. During the quantitative easing of 2021, 319.7 billion U.S. dollars worth of banknotes were printed, marking the third-highest figure within the period. By 2023, the value of new banknotes printed had dropped by half, reaching 162.4 billion U.S. dollars. At the same time, the value of currency in circulation reached 2.29 trillion U.S. dollars in 2023.

Money Supply M0 in the United States decreased to 5614000 USD Million in February from 5614200 USD Million in January of 2025. This dataset provides - United States Money Supply M0 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Currency in Circulation (CURRCIR) from Aug 1917 to Feb 2025 about currency and USA.

Graph and download economic data for Monetary Base: Currency in Circulation (MBCURRCIR) from Jan 1959 to Feb 2025 about monetary base, currency, and USA.

The annual volume of new banknotes printed in the United States has fluctuated since 2002. In 2022, six billion banknotes were printed by the Bureau of Engraving and Printing in the United States. This was the second lowest volume of banknotes printed during the observed period. At the same time, the total volume of currency in circulation increased steadily throughout the observed period and exceeded 54 billion banknotes in 2022.

Graph and download economic data for Monetary Base: Total (BOGMBASE) from Jan 1959 to Feb 2025 about monetary base and USA.

Money Supply M2 in the United States increased to 21447.60 USD Billion in November from 21311.20 USD Billion in October of 2024. This dataset provides - United States Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States - Currency in Circulation was 2351.51200 Bil. of $ in February of 2025, according to the United States Federal Reserve. Historically, United States - Currency in Circulation reached a record high of 2361.93200 in December of 2024 and a record low of 3.71400 in August of 1917. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Currency in Circulation - last updated from the United States Federal Reserve on March of 2025.

Graph and download economic data for Average Hourly Money Earnings in Book and Job Printing for United States (A0851AUSA052NNBR) from 1890 to 1928 about printing, jobs, earnings, hours, and USA.

Graph and download economic data for Quarterly Financial Report: U.S. Corporations: Printing and Related Support Activities: Total Cash on Hand and in U.S. Banks (QFRTCASH323USNO) from Q4 2000 to Q4 2024 about support activities, printing, cash, finance, nondurable goods, corporate, goods, banks, depository institutions, manufacturing, industry, and USA.

The statistic shows the last point in time consumers spent money on printed books in the United States in 2017, by ethnicity. During the survey, 55 percent of Hispanic American or Latino respondents stated that they had spent money on printed books within the last month.

The statistic shows the last point in time consumers spent money on printed books in the United States as of April 2017. During the survey, 41 percent of respondents stated that they had spent money on printed books within the last month.

Money Supply M1 in the United States increased to 18531.30 USD Billion in February from 18464 USD Billion in January of 2025. This dataset provides - United States Money Supply M1 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Quarterly Financial Report: U.S. Corporations: Printing and Related Support Activities: Cash and Demand Deposits in the U.S. (QFR201323USNO) from Q4 2000 to Q4 2024 about demand, support activities, printing, cash, finance, nondurable goods, deposits, corporate, goods, manufacturing, industry, and USA.

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest 0.9 trillion U.S. dollars at the end of 2007, it ballooned to approximately 6.76 trillion U.S. dollars by March 2025. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic - both of which resulted in negative annual GDP growth in the U.S. - showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached eight percent in 2022, the highest since 1991. However, by November 2024, inflation had declined to 2.7 percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at 5.33 percent in August 2023, before the first rate cut since September 2021 occurred in September 2024. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2023, the Fed reported a negative net income of 114.3 billion U.S. dollars, a stark contrast to the 58.84 billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over 281 billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of 174.53 billion U.S. dollars in the same year.

Graph and download economic data for Quarterly Financial Report: U.S. Corporations: Publishing Industries, Except Internet: Total Cash, U.S. Government and Other Securities (QFRTCASH2511USNO) from Q4 2009 to Q3 2024 about internet, printing, cash, information, finance, securities, corporate, government, industry, and USA.

According to Cognitive Market Research, the global Banknote Printing Machine market size will be USD 12524.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 10.80% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 9911.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3757.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2880.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 626.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 250.49 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
The government authorities and private enterprises represent the dominant end-user category. Government authorities, such as national treasuries and finance ministries, are responsible for the issuance of currency and often collaborate with private enterprises to meet their printing needs

Market Dynamics of Banknote Printing Machine Market

Key Drivers for Banknote Printing Machine Market

Increasing Demand for Enhanced Security Features to Boost Market Growth

One of the primary drivers fueling the banknote printing machine market is the escalating demand for advanced security features in currency production. As counterfeiters develop more sophisticated methods to replicate banknotes, governments and central banks are investing in cutting-edge technologies to safeguard their currency. This trend necessitates the integration of complex security elements, such as holograms, color-shifting inks, and embedded security threads, into the design and printing processes. Consequently, manufacturers of banknote printing machines are responding by innovating their equipment to accommodate these high-tech features, leading to a surge in demand for machines capable of producing more secure and reliable currency. This focus on enhancing security not only protects the integrity of monetary systems but also reinforces public trust in the currency. For instance, May 2022, Giesecke+Devrient (G+D) developed a “Green Banknote,” which acts as a blueprint for using ecological, resource-saving material for banknotes, and integrating state-of-the-art security features to improve the cash cycle

Growth of Cash Transactions Amid Economic Recovery to Drive Market Growth

Despite the rising trend of digital payments, the resurgence of cash transactions, particularly in developing economies, significantly drives the banknote printing machine market. As economies recover from downturns, there is a notable increase in cash usage for everyday transactions, prompting central banks to bolster their currency supply. Additionally, many consumers prefer cash for its tangible nature and ease of use, especially in regions with limited access to banking infrastructure. This growing reliance on physical currency necessitates the production of new banknotes, pushing governments to invest in advanced printing technologies. As a result, manufacturers of banknote printing machines are well-positioned to capitalize on this opportunity, meeting the rising demand for efficient and high-quality currency production to support a robust cash-driven economy.

Restraint Factor for the Banknote Printing Machine Market

High Initial Investment Costs, will Limit Market Growth

One significant restraint affecting the banknote printing machine market is the high initial investment costs associated with acquiring advanced printing technologies. These machines often come with substantial price tags due to their complex engineering, integrated security features, and the need for ongoing maintenance and support. For many smaller printing firms or emerging economies, the financial burden of investing in such high-tech equipment can be prohibitive, limiting their ability to participate in the market. This constraint can lead to a slower adoption of new printing technologies and hinde...

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Banknote Market Size 2025-2029

The banknote market size is forecast to increase by USD 2.19 billion at a CAGR of 4.9% between 2024 and 2029.

The global banknote market is experiencing steady growth, driven by advancements in security technology and rising demand for durable currency solutions. Innovations like polymer substrates and enhanced anti-counterfeiting measures are key factors, as governments and central banks prioritize secure, long-lasting banknotes. Shifts in consumer behavior, such as sustained reliance on cash in developing economies, also support this expansion despite digital payment trends. Another trend influencing the market is the increasing use of cryptocurrencies, which may lead to a decline in physical currency usage.
This report offers a detailed look at the market, including its current size - projected to grow by USD 2.19 billion from 2024 to 2029 - and a compound annual growth rate (CAGR) of 4.9%. It breaks down forecasts, key segments like state-owned and commercial printers, and regional insights across North America, APAC, Europe, and beyond. A notable trend is the increasing use of durable materials to extend banknote lifespan, while a persistent challenge is the pressure from counterfeit operations, requiring ongoing innovation in security features and currency counting machines. Businesses can use this data to refine strategies, strengthen client engagement in financial sectors, or optimize operational planning.
With actionable insights into these trends and challenges, this report equips decision-makers to navigate the global banknote market effectively, ensuring they stay competitive in an evolving landscape shaped by technology and security demands

What will be the Size of the Market During the Forecast Period?

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Damaged notes, though not counterfeit, can cause confusion and inefficiencies in transactions. Misplaced numbers or serial numbers on banknotes can lead to counting errors, potentially resulting in financial losses for individuals and businesses. Communities and businesses, in turn, rely on financial institutions to mitigate these risks. Banknote authenticity and integrity are essential for maintaining the stability and confidence of the financial system. Business leaders and individuals must remain vigilant and report any suspected instances of monetary fraud to the relevant authorities. The market is subject to various challenges, from counting errors and damaged notes to monetary fraud and counterfeit money. Financial institutions play a crucial role in maintaining the integrity and authenticity of banknotes, ensuring the smooth functioning of the financial system and the trust of the communities they serve.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  State-owned
  Commercial


Application

  Intaglio printing
  Offset Printing
  Letterpress Printing


Geography

  APAC

    China
    India
    Japan


  Middle East and Africa

    UAE


  South America

    Brazil


  North America

    US
    Canada
    Mexico


  Europe

    UK
    Germany

By Type Insights

The state-owned segment is estimated to witness significant growth during the forecast period. Banknote printing is a critical process carried out by state-owned printers, also known as state print works (SPWs), in many countries due to national security concerns, driving the need for digital payments. Historically, banknote printing was outsourced to private firms, but the exclusive responsibility was later taken over by central banks to safeguard design and anti-counterfeiting features. Allowing printing contracts to foreign printers may pose security risks, as sensitive information could be compromised. In the US, for example, the Bureau of Printing and Engraving assumed the role of banknote printing in 1877 to ensure security and maintain design consistency.

Moreover, the importance of banknote printing in economies lies in its function as a payment method, and the use of advanced printing technologies such as intaglio, offset, and letterpress ensures the production of secure and visually appealing banknotes. Inflation rates and economic conditions influence the demand for banknotes, making it an essential market to monitor.

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The state-owned segment was valued at USD 7.49 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 67% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the

U.S. Mint & Bureau of Engraving and Printing FacilitiesImportant Note: This item is in mature support as of August, 2024 and will be retired in December, 2024.This feature layer, utilizing data from the Homeland Infrastructure Foundation-Level Data program, displays U.S. Mint and Bureau of Engraving and Printing facilities in the U.S.The U.S. Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. Per U.S. Treasury, "The Mint is the nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the nation to conduct its trade and commerce." The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. The U.S. Government began printing paper money in 1862, when demand notes and legal tender "greenback" currency were issued to finance the Civil War. BEP was started by the law on July 11, 1862 allowing some of the authorized notes to be engraved and printed at the Treasury. It designs, engraves, and prints all U.S. paper currency.Bureau of Engraving and PrintingData currency: This cached Esri service is checked monthly for updates from its federal source (US Mint Bureau of Engraving and Printing (BEP) Facilities)Data modification: NoneFor more information, please see: About the United States Mint & About BEPFor feedback, please contact: ArcGIScomNationalMaps@esri.comUnited States MintPer U.S. Mint, "The mission of the U.S. Mint is to serve the American people by manufacturing and distributing circulating, precious metal and collectible coins and national medals, and providing security over assets entrusted to us."

Graph and download economic data for Quarterly Financial Report: U.S. Corporations: Printing and Related Support Activities: Cash Dividends Charged to Retained Earnings This Quarter (QFR120323USNO) from Q4 2000 to Q4 2024 about retained earnings, dividends, support activities, printing, cash, finance, nondurable goods, earnings, corporate, goods, manufacturing, industry, and USA.