About Industrial Caster Wheels
Industrial casters refer to heavy-duty casters. These casters are designed for carrying heavy loads. The industrial caster wheels market has high growth prospects owing to growth in the manufacturing and industrial sector. Additionally, increasing applications for the dolly carts, assembly turntables, heavy-duty storage racks, holding bins, tow lines, maintenance equipment, and material handling equipment expected to drive the product demand during the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Market players are focusing on partnerships, collaborations, and new product launches in order to increase their offerings in the industrial caster wheels market. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product offerings. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Industrial Caster Wheels market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hamilton Caster (United States), H Varley Ltd (United Kingdom), Industrial Caster & Wheel Co (United States), RWM Casters (United States), R&K Industrial Wheels (United States), McKees Rocks Forgings (United States), Trelleborg (Sweden) and Comfort Castors (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Industrial Caster Wheels market by Type (Heavy Duty Industrial Casters, Stainless Steel Casters, Pneumatic Casters and Polyurethane Wheels), Application (Dolly Carts, Assembly Turntables, Heavy Duty Storage Racks, Holding Bins, Tow Lines, Maintenance Equipment and Material Handling Equipment) and Region.
On the basis of geography, the market of Industrial Caster Wheels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Vertical, the sub-segment i.e. Aerospace will boost the Industrial Caster Wheels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in the Industrial Caster Wheels
Market Growth Drivers:
Growth in Manufacturing Sector and Increasing Applications in Material Handling Equipment
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Rising Demand from the Developing Economies and Increasing demand of Caster Wheels for the Heavy Duty Storage Racks
Market Leaders and their expansionary development strategies
In September 2023, Colson Group Acquires Finnish Caster Manufacturer Manner, a significant development is reshaping the landscape of caster and wheel product solutions. In a strategic move, Colson Group has acquired a prominent caster manufacturer based in Hanko, Finland.
In February 2023, Hamilton’s latest line of new industrial wheels, U-Grooved Track Wheels are designed for easy rolling along straight or curvy tracks or pipes. With a capacity range of 1000 – 7000 lbs., U-Groove Wheels are a great solution when working with crane cables or pulleys, or using rolling gates and doors. They’re also common in food services, washdown, and other industries where tubed tracks are commonplace.
Key Target Audience
Industrial Caster Wheels Manufacturers, Industrial Caster Wheels Distributors/Traders/Wholesalers, Industrial Caster Wheels Subcomponent Manufacturers, Industry Association & Government Agencies, Downstream Vendors, Commercial Research & Development Institutions, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.