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Global Casters Market to Reach Over US$ 6.0 Bn By 2025 End

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 Published Date : 11 Nov 19   |   Views: 42   |  Industry : Machinery & Equipment

Global Casters Market to Reach Over US$ 6.0 Bn By 2025 End

QYR Consulting has announced the addition of a new report to its machinery & equipment archive of market research studies titled, “Global Casters Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025.” According to the report, the global Casters market was above US$ 5.0 Bn in 2018 and is anticipated to reach over US$ 6.0 Bn by the end of 2025. The global Casters market is anticipated to exhibit a sluggish CAGR of 1.2 during the forecast period of 6 years, i.e. between 2019 and 2025. Caster wheels find usage in varied applications ranging from office desk chairs, hospital beds to automotive factories. Casters are available in a variety of wheel sizes, designs, materials, and capacities in order to meet the requirements of the end-user industries. Manufacturers have been developing innovative castor wheels to reduce the risk of workplace injuries such as overexertion, collision, hearing loss, and heavy materials movement.

Segmental Analysis

Rigid Casters to witness a surge in the demand in future

Based on the product, the Casters market is bifurcated on the basis of rigid caster and swivel caster. Rigid Casters are high in demand owing to their exceptional weight bearing capacity as compared to swivel Casters. Swivel Casters are known to work effectively for shorter distances. The global Casters market has been segregated on the basis of application as industrial and automotive, medical and furniture, and others. The industrial sector makes use of high capacity and heavy duty Casters for platform trucks, assemblies, carts, and tow lines in plants. Casters also find extensive usage in medical applications as they are apt for fitting into moveable hospital beds, bedside screens, waste trolley, equipment trolley, paediatric bed, and various other equipment.

Global Casters Market to Reach Over US$ 6.0 Bn By 2025 End

North America

Global Casters Market to Reach Over US$ 6.0 Bn By 2025 End

Regional Analysis


North America to maintain its supremacy in the Casters market

Expansion of the automotive industry and widespread consumption of Casters in North America is driving the demand for Casters in this region. Increasing downstream operations in Latin America has resulted in an upsurge in the adoption of Casters, thus impacting the Casters market growth in this region. Large scale production of Casters is one of the major factors driving the market in Asia Pacific.

Key Players


Players to introduce novel products to gain traction in the market

Tente International, TELLURE, TAKIGEN, Wicke, CEBORA, Stellana, RAEDER, EMILSIDER, VOGEL, Steinco, Alex, Manner, Colson Group, Samsongcaster, OMO, Flywheel Metalwork, Vulkoprin, ROCARR, Regal Castors, Guy, Raymond, Jacob Holtz, Algood Caster, CASCOO, Payson Casters, RWM Casters, Blickle, and Hamilto are some of the key players operating in the global Casters market. Manufacturers are designing advanced caster wheels with increased efficiency and weight bearing capacity, in compliance with the laid regulations.


Global Casters Market to Reach Over US$ 6.0 Bn By 2025 End

Global CAGR During 2019-2025


1.2%

Market Dynamics


Noisy wheels and rolling resistance may restrain the market growth

High rolling resistance of Casters may make it harder to turn the furniture, thus reducing the adoption of Caster wheels. Also, Casters can be noisy if they create a lot of friction. Lack of sturdiness and low load bearing capacity of Casters can lead to breakage, thereby restraining the market growth.

Moreover, engineered plastic material deployed in caster wheels can be costly, which may hamper the growth of the Casters market. Organizations such as Occupational Safety and Health Administration (OSHA) have enforced some strict regulations on the noise level a particular Caster can make and on the exposure to noise for the workers. This may act as a challenge for the market players.


For further information, check: https://www.qyrconsulting.com/reports/casters-market


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