Industrial Casters Market Size, Share, Growth, And Industry Analysis by Type (Swivel Casters and Rigid Casters) By Application (Machinery and Equipment, Medical Devices, Aerospace and Defense, and Others), Regional Forecast To 2031

Updated On: 01 April 2024

Industrial Casters Market Report Overview

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The global industrial casters market size was 3917 million in 2021 and is projected to touch USD 7906.04 million by 2031, exhibiting a CAGR of 7.3% during the forecast period.

An industrial caster is a wheel used in carts and bins to carry very heavy weights. Industrial casters are one of the basic equipment for handling heavy industrial materials. They are used in various industrial applications, making the work process more efficient and seamless. Industrial casters also help in improving the productivity levels of the industry. Many processes on the production line depend on them for the smooth operation of the production cycle. Carts and wagons used to carry heavy industrial materials need caster wheels as, without them, they provide no useful function.

Industrial casters come in a variety of shapes, sizes, and models to suit every need. They also come with different capacities for bearing weight. Industrial casters are used in shopping carts, factory floor carts, electronics, hospitality, and medical equipment. They are also used in waste removal, transportation, assembly lines, air cargo operations, and warehouses. They improve the working conditions of the workers as they endure fast and efficient movement of materials. They also help in reducing the time taken to perform a particular job.

COVID-19 Impact: Halt of Operations to Impede Growth

The COVID-19 pandemic has disrupted all areas of business and production. The lockdowns which were imposed halted production activities of oil absorbers. The major manufacturers and users of industrial casters, North America and the Asia Pacific, suffered enormously due to COVID-19, whether in terms of the number of people infected or the regression of the economy. The supply chain was completely disrupted and exports and imports were harder to manage. This led to reduced usage of industrial casters in other parts of the world as well. Industrial activities were halted in many parts of the world so the production levels had considerably reduced in many areas. Factories are one of the major consumers of industrial casters. This reduced production levels affected the industrial casters market significantly.

Latest Trends

"Need to Reduce Workplace Injuries to Stimulate Demand"

There is a need to reduce workplace injuries in factories and industries. The factory labor may suffer from a number of injuries and workplace accidents while working. Many health and safety organizations have made it compulsory for industries to make use of caster wheels in their operations. Industrial casters make very less noise while moving. The Occupational Safety and Health Administration (OSHA) has made the use of industrial casters compulsory in hospitals and medical centers. As it becomes mandatory to use industrial casters in various industries around the world, the industrial casters market growth is anticipated to rise simultaneously.

Industrial Casters Market Segmentation

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• By Type Analysis 

On the basis of type, the industrial casters market can be segmented into swivel casters and rigid casters. The swivel casters segment is anticipated to lead the global share through 2031.

• By Application Analysis

According to application, the industrial casters market can be bifurcated into machinery and equipment, medical devices, aerospace and defense, and others. The machinery and equipment segment is projected to capture the maximum market share over 2023-2031.

Driving Factors

"Growing Aerospace Industry to Increase Demand"

Aerospace refers to the process of manufacturing airplanes, and parts of It, and assembling them. Aerospace also includes the manufacturing of space crafts. The production and assembling of such large devices require large parts which are heavy and take up a lot of volume. To transfer such materials from one place to another, industrial casters are used. The use of industrial casters in the aerospace industry is very common. There is a need to manufacture more airplanes because of the increasing demand and affordability of air travel. Space exploration activities are also increasing rapidly around the world. This is going to increase the industrial casters’ market size.

"Applications in the Medical Industry to Support Growth"

Industrial casters are used in the medical industry to carry medical equipment and devices from one place to another. Medical equipment is complicated and fragile. It is not possible to carry such equipment from one place to another. The use of industrial casters makes this transport easier. Industrial casters are also used for patient beds. This makes the movement of people, equipment, and supplies easier and faster. As the healthcare industry sees improvements, the industrial casters market is also going to improve.

Restraining Factors

"Extreme Temperatures in Certain Regions May Affect Growth"

The performance of industrial casters greatly depends on the temperature. Industrial casters which are made of rubbers and polymers may lose their properties due to excessive changes in weather. In wet environments, industrial casters are prone to corrosion. This weakens the industrial caster and increases the risk of failure of the device. Due to these reasons, industrial casters with specific properties which can withstand such conditions are required to be used. This may prove to be a problem in terms of availability and costs. Also, many people may not be aware of such problems, Regions with different environmental conditions may have to work with different industrial casters throughout the year.

Industrial Casters Market Regional Insights

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"North America to Dominate Market Share owing to Rapid Industrial Expansion "

North America is the biggest consumer of industrial casters. The region has a high number of industries that use industrial casters. The aerospace industry is also rising rapidly in the region leading to an increasing industrial casters market. The medical and healthcare industry in North America is one of the most well-developed in the world. As the industry further develops, the demand for industrial casters will also increase.

The Asia Pacific follows North America in terms of the consumption of industrial casters. The Asia Pacific region has a huge number of manufacturing plants and factories that make use of industrial casters. The improving aerospace industry in this region will constitute a major part in the industrial casters market share.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Colson Group (U.S.)
• Tente International (Germany)
• Blickle (Germany)
• TAKIGEN (Malaysia)
• Payson Casters (U.S.)
• Hamilton (U.S.)
• Tellure Rota (Italy)
• Samsong Caster (South Korea)
• CEBORA (Italy)
• ER Wagner (U.S.)
• Flywheel Metalwork (India)
• Uchimura Caster (Japan)
• RWM Casters (U.S.)
• Darcor (Canada)
• Zonwe Holding Group
• Qingdao Shinhee (China)
• Regal Castors (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.