Casters Market Report 2024 (Global Edition)

Global Casters Market Report 2024 Market Size Split by Type (Rigid Casters, Swivel Casters), by Application (Industrial & Automotive, Medical, Furniture, Others)

Casters Market Report Description

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Casters Market Insights Video

Competitive Landscape of the Casters Market

Emerging trends include integrating advanced materials for enhanced durability and developing smart casters. The growing demand for casters in various industries, including manufacturing, healthcare, and logistics, drives the market.

Casters Industry News

March 2021: Blue Wolf Capital Partners LLC, a US-based private equity firm, acquired Colson Group for an undisclosed amount.

Top Companies Market Share in Casters Industry: (In no particular order of Rank)

• Omco International (Belgium)
• JCL Engineering Pte Ltd. (Singapore)
• Changshu Jing Gong Mould Manufacturing Co. Ltd.
• Ross International (The U.S.)
• UniMould (Germany)
• Changshu Jianhua Mould Co. Ltd. (China)
• Chengdu Xinzhi Industry Co. Ltd. (China)
• Changshu Weiheng Mould Manufacture Co. Ltd. (China)
• Ori-Mould Technology (Suzhou) Co. Ltd. (China)
• Rongtai Mould Limited Company (China)
• TetaGlass Moulds (Turkey)
• Busellato Glass Moulds Srl (Italy)
• Suzhou Donghai Glass Mould Co. Ltd. (China)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Asia-Pacific Casters Market Dominates the Casters Market globally in 2023

According to Cognitive Market Research, Asia-Pacific dominated the market in 2023. It accounted for around 36% of the global revenue, owing to the increasing industrialization, booming e-commerce sector, and expanding manufacturing activities in countries such as China, India, and Japan are driving the demand for casters. Rapid urbanization and infrastructure development further contribute to the market's growth as the demand for material-handling equipment rises. Additionally, the automotive and healthcare sectors in the region are increasingly adopting casters for mobility solutions. As a result, Asia-Pacific stands out as a lucrative market for casters, with the potential for sustained expansion in the foreseeable future. Manufacturers in the region will likely benefit from these trends, capitalizing on the diverse applications and growing consumer base.

North America is the fastest-growing category as the region's manufacturing and logistics sectors heavily rely on efficient material handling, spurring demand for high-quality casters. The automotive industry, emphasizing mobility solutions, further fuels market expansion. The United States, in particular, contributes significantly to the growth, propelled by a strong industrial base. Technological advancements in caster design and materials enhance performance, catering to the evolving needs of North American industries. Additionally, stringent quality standards and regulations drive manufacturers to innovate and meet industry demands. As a result, North America remains a key player in the global casters market, with sustained growth anticipated as industries prioritize productivity and efficiency in material handling solutions.

The current report Scope analyzes Casters Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!

Europe Casters Market

Europe Casters Market Analysis:

According to Cognitive Market Research, the Europe Casters market accounted for approximately 26% and a CAGR of 1.6% of the global revenue due to the escalating need for efficient material handling solutions in manufacturing, logistics, and healthcare sectors. Adopting advanced caster technologies, such as swivel casters and heavy-duty variants, further boosts market growth. Additionally, the emphasis on ergonomic designs and sustainability in caster manufacturing is influencing the market dynamics, creating a positive trajectory for the industry in Europe and globally. Key segments like industrial, furniture, and medical casters are experiencing heightened demand. The European market, characterized by stringent quality standards, significantly contributes to the expansion. Industries across the region are adopting advanced caster technologies to enhance mobility and ergonomics in diverse applications, further fueling market growth in this dynamic and evolving sector.

Asia Pacific Casters Market

Asia Pacific Casters Market Analysis:

According to Cognitive Market Research, Asia Pacific held a considerable market share in 2023, accounting for more than 36% and a CAGR of 2.8% of the global revenue due to the region's increased industrialization, rising demand for material handling equipment, and expanding e-commerce activities. As manufacturing and logistics sectors grow, the need for efficient and flexible mobility solutions intensifies, boosting the demand for casters. Asia-Pacific's robust economic development and a surge in online retail contribute significantly to the market's growth, as businesses seek versatile and durable caster solutions for enhanced maneuverability in material handling applications. The demand for casters is escalating across various segments, including furniture, medical, industrial, and automotive, driven by the region's economic development. Innovations in materials and design characterize the market to enhance performance, durability, and manoeuvrability. As industries continue to evolve, the casters market in Asia-Pacific remains a key player in facilitating efficient mobility solutions across diverse sectors

South America Casters Market

South America Casters Market Analysis:

According to Cognitive Market Research, Latin America accounted for more than 5% and CAGR of 1.9% of the global Casters revenue in 2023 due to the rising industrialization, demand for ergonomic material handling solutions, and growth in the e-commerce sector. Latin America's expanding manufacturing and logistics industries contribute to the market's positive trajectory. The need for efficient and flexible material handling equipment, coupled with increased consumer spending, fuels the demand for casters in the region. Additionally, the emphasis on workplace safety and productivity catalyses market growth in Latin America. The market's diverse segments, including industrial, medical, and furniture casters, are witnessing increased demand. Latin America's expanding industrial sector and rising urbanization contribute to the market's positive trajectory. Manufacturers are focusing on innovations and sustainability, driving further market expansion. Overall, the casters market in Latin America is dynamic, with various segments poised for sustained growth in response to evolving consumer and industrial needs.

Middle East and Africa Casters Market

Middle East and Africa Casters Market Analysis:

According to Cognitive Market Research, the Middle East and Africa accounted for more than 3.00% and a CAGR of 2.2% of the global revenue in 2023 due to rising demand for material handling equipment across various industries. The robust growth of the region's manufacturing, logistics, and e-commerce sectors fuels the need for efficient and mobile solutions. Caster wheels are crucial in enhancing manoeuvrability and productivity, a key driver in the market's expansion. Key segments such as industrial, medical, and furniture casters are experiencing significant traction. The Middle East and Africa region contribute to this growth through expanding industrialization and infrastructure development. Rising emphasis on ergonomic solutions and technological advancements in caster design further propel market expansion, fostering a dynamic landscape for caster products in the global and regional contexts.

 

North America Casters Market

North America Casters Market Analysis:

According to Cognitive Market Research, North America held the major market share of 30% in 2023. It accounted for more than 30% and a CAGR of 1.5% of the global revenue due to the increasing demand for ergonomic and versatile material handling solutions across various industries. As businesses prioritize efficiency and flexibility in their operations, the adoption of high-quality casters has surged, driving market expansion. This trend is particularly pronounced in North America, where industries are keen on optimizing mobility and enhancing workplace ergonomics, contributing to the overall success of the global casters market. In this region, the demand for casters is driven by various industries, including manufacturing, healthcare, and logistics. Key segments such as swivel casters, rigid casters, and industrial casters are experiencing robust demand, driven by the need for efficient material handling solutions. Factors such as technological advancements and the growing emphasis on ergonomic designs contribute to North America's overall expansion of the casters market.

Casters Market Analysis

By type, the Rigid casters segment held the major market share over the forecast period.

According to Cognitive Market Research, rigid casters held the major market share over the forecast period. They are designed to move straight, providing stability and support for heavy loads. They are commonly used in applications where straight-line movement is essential, such as industrial carts and equipment.

Swivel casters will be the fastest-growing category over the forecast period. They offer greater manoeuvrability as they rotate 360 degrees, allowing for versatile movement in various directions. Furniture, office chairs, and medical equipment with swivel casters are often used in applications where agility and flexibility are crucial.

• Rigid Casters
• Swivel Casters

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Casters Industry. Request a Free Sample PDF!

Casters Application Segment Analysis

According to Cognitive Market Research, the industrial and automotive hold a prominent market share. Casters play a crucial role in material handling equipment, providing mobility and ease of movement for various applications such as manufacturing, logistics, and automotive assembly lines. Industrial-grade casters, designed to withstand heavy loads and harsh conditions, enhance operational efficiency.

Medical is the fastest-growing category over the forecast period. Casters find essential applications in healthcare equipment and furniture, facilitating smooth and precise manoeuvrability in hospitals, clinics, and laboratories. Medical casters are often equipped with features like swivel locks and antimicrobial properties to ensure hygiene and flexibility in healthcare environments.

• Industrial & Automotive
• Medical
• Furniture
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Casters market report 2024 Edition by contacting our team.

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

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