Caster Wheels Market: Introduction
Moving bulky items using wheels has been a practice that has been around since the early existence of the ancient civilization. Caster wheels were first patented by David A. Fisher, whose discovery was initially considered for furniture. Later, caster wheels began to be used for industrial purposes as they were extremely heavy. However, eventually, casters wheels’ design changed to include many features, such as brakes, direction locks, shock absorbers, etc. Now a days, caster wheels are found everywhere — from office desk chairs and hospital beds to automotive factories, etc.
In 1981, the National Institute of Occupational Safety and Health (NIOSH) published its lifting guide. Since that time, the industry has responded by working to reduce the amount of manual lifting, lowering and carrying found in workplaces, often replacing those tasks with pulling and pushing. Also, at workplaces, overexertion was ranked as the highest cause of disabling injuries.
According to a study, in 2015, injuries related to material handling cost business stood at $14.2 billion in direct expenses. Moreover, it was estimated that 10% of major back injuries in the industry are associated with pulling or pushing tasks. Therefore, due to the aforementioned reasons, the demand for caster wheels has increased over the years.
Caster Wheels Market: Dynamics
Globally, with the growth in the number of malls, hospitals and clinics, the demand for caster wheels is also anticipated to grow at significant CAGR. Caster wheels facilitate rapid mobility of patients in clinics and hospitals. However, factors, such as noisy wheels and rolling resistance, might hamper the growth of caster wheels market. Also, the engineered plastic material used in caster wheels can be very expensive and this might further hinder the growth of the caster wheels market.
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Caster Wheels Market: Regional Outlook
The global caster wheel market is segmented into nine key regions: India, China, Latin America, North America, Western Europe, Eastern Europe, South East Asia, Japan and Middle East and Africa (MEA). As of 2018, growth in developed regions, such as North America, Western Europe and Japan will be driven by the expansion of various industries, such as the automotive industry. Latin America is considered to be a key market for caster wheels because of the availability of downstream operations.
Caster Wheels Market: Segmentation
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Caster Wheels Market: Market Participants
Examples of some of the market participants/vendors operating in the Caster wheels market across the globe are:
- DH Casters International
- Hamilton Caster & Mfg. Co.
- Muvtons Castors Pvt Ltd.
- Veekay Impex
- Colson Casters
- Cascoo Europe GmbH
- Rhombus Rollen Holding GmbH
- Steinco Paul vom GmbH
- Bestway Casters & Wheels Ltd.
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