The caster wheels market size is expected to see strong growth in the next few years. It will grow to $11.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to demand for comprehensive services, rising demand for smart and iot-enabled solution, regulatory compliance and safety standards, sustainability and environmental concerns, global manufacturing and trade dynamics.. Major trends in the forecast period include industrial automation, focus on ergonomics and mobility, specialized applications, advancements in materials and technology, sustainability and green initiatives.
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Scope Of Caster Wheels Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Caster Wheels Market Overview
Market Drivers –
The expansion of the hospitals is expected to propel the caster wheel market going forward. Hospitals refer to an institution that provides medical treatment and helps patients to cure their diseases. In hospitals, caster wheels are commonly employed in applications such as hospital beds, equipment carts, surgery tables, and IV poles. For instance, in December 2022, according to Texas Health & Human Services Commission, a government agency, the Texas Legislature and Governor Greg Abbott approved $282.5 million for the expansion and construction design of a new hospital in Dallas-Fort Worth.The hospital would feature 296 beds, 200 for adults and up to 96 for pediatric patients. Similarly, in 2022, according to CNN, a US-based media company, in the US, more than 80% of hospital beds are in use, which was up by 8% point compared to the last two weeks. Thus, the expansion of the hospitals is driving the caster wheel market.
Market Trends –
The development of new formulations and materials is a key trend gaining popularity in the caster wheel market. Major players in the castor wheel market are employing anti-microbial wheels to sustain their position in the market. In January 2021, Colson Casters, a US-based global manufacturer of casters and wheels launched a new antimicrobial soft wheel for high-temp steam sterilization and wash-down applications. It is particularly created for use on equipment that is routinely subjected to high-temperature sterilization chambers and repeated cart wash treatments. To receive all the high-temp benefits for your carts or equipment, this sterilizer wheel is connected to MedCaster, a freshly enhanced SX Series swivel, rigid, complete lock, or direction lock caster option. The MedCaster Sterilizer Wheel is an excellent choice for case carts, sterilizer carts, test cages, lab equipment, and operating room equipment.
The caster wheels market covered in this report is segmented –
1) By Caster Type: Swivel Caster, Rigid Or Fixed Caster, Ball Bearing Caster, Kingpin Caster
2) By Type Of Material: Forged Steel, Cast Iron, Ductile Iron, Polyurethane, Mold On Rubber, Phenolic Resin, Other Materials
3) By Application: Shopping Carts, Office Chairs, Toy Wagons, Hospital Beds, Material Handling Equipment
4) By End-User: Automotive, Aerospace, Food Industry, Medical, Textile Industry, Other End-Users
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Regional Insights –
North America was the largest region in the caster wheel market share in 2023. The regions covered in the caster wheels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the caster wheels market report are TENTE International GmbH, Brauer Ltd., CASCOO Europe GmbH, DH Casters Inc., Hamilton Caster & Manufacturing Co., Muvtons Castors Pvt Ltd., STEINCO Paul vom Stein GmbH, Bharat Industrial Corporation, Comfort Casters Global., Hengshui Yu Tong Metalwork Co. Ltd., Korenberg Abrasive Wheels, Industrial Caster and Wheel Co., R&K Industrial Wheels, Colson Associates Inc., Blickle Räder+Rollen GmbH u. Co. KG, Shepherd Caster Corporation, Albion Industries Inc., Faultless Caster Division, Payson Casters Inc., Jarvis Caster Company, Revvo Caster Company Limited, Caster Concepts Inc., Medcaster Inc., Darcor Limited, Darnell-Rose Casters, Access Casters Inc., Douglas Equipment Company Inc., Stellana US Inc., Fallshaw Group Pty Ltd, Magnus Mobility Systems Inc., Durastar Casters .
Table of Contents
1. Executive Summary
2. Caster Wheels Market Report Structure
3. Caster Wheels Market Trends And Strategies
4. Caster Wheels Market – Macro Economic Scenario
5. Caster Wheels Market Size And Growth
…..
27. Caster Wheels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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