From today, the manufacturing firm is showcasing the range of new kit at a pre-Drupa event being held in Tel Aviv, Israel. The equipment  being unveiled includes an inkjet web press, a series of latex inks and three HP Indigo presses.

HP claims that the equipment will "improve the speed and reduce the cost of digital printing".

This latest product roll-out is part of HP's Print 2.O business strategy, which aims to convert businesses from using analogue-based printing equipment and services to using digital. HP estimates that by 2010, the market will be worth $663bn (£328bn).

Several of the new products use HP's Scalable Printing Technology, into which it has invested $1.4bn (£0.693bn): an inkjet technology that produces high-performance, reliable and low operating cost colour print devices.

New kit being unveiled in Tel Aviv includes what HP claims is the world's first 30-inch wide production inkjet platform.

HP Inkjet Web Press is a high-speed colour digital printing platform aimed at the high-volume commercial market. It is expected to be available to buy in the second half of 2009. The press is capable of printing at 400ft/min (122m/min) and is compatible with a wide range of uncoated media, enabling efficient printing of book signatures, full broadsheet newspapers and other documents.

HP is also launching a large format signage/display platform, which it claims was designed with the environment in mind. It provides an alternative to traditional large format printing methods. The platform's latex inks produce odourless prints and consistently high quality performance.

Other new developments include an expanded portfolio of HP Indigo presses, such as the new 7000 Digital Press, which is designed for high volume print service providers; and HP's first-ever graphic arts workflow portfolio, the SmartStream Digital Workflow Portfolio.

Stephen Nigro, the senior vice president of HP's graphics and imaging business, said in a statement: "Today's announcements further cement HP's leadership in the graphic arts market, accelerate the analogue-to-digital conversion and propel digital technology as a mainstream product offering. These new technologies and products will change the digital printing industry in terms of value, volume and environmental footprint."

The Tel Aviv event is being held for HP customers and partners, as well as press and analysts. The new kit will subsequently be on display  at Drupa between 29 May and 11 June at HP's booth in Hall 8A.