As one of the indispensable accessories in the modern industrial, logistics and household sectors, the market size and application scope of casters is expanding. According to market research organizations, the global casters market size has grown from nearly USD 12 billion in 2018 to more than USD 14 billion in 2021 and is expected to reach nearly USD 17 billion by 2025.
Among them, Asia-Pacific is the major consuming region of the global caster market. According to IHS Markit, the Asia-Pacific caster market accounted for 34% of the global market in 2019, surpassing the market share of Europe and North America. This is mainly due to the booming manufacturing sector and growing logistics demand in the Asia-Pacific region.
In terms of applications, casters are expanding to cover a wider and wider range of applications, from traditional furniture and medical devices to transportation equipment and smart homes. According to market research organizations, by 2026, the caster market in the medical equipment sector will reach 2 billion U.S. dollars, 1.5 billion U.S. dollars in the field of logistics equipment, and 1 billion U.S. dollars in the home sector.
In addition, caster technology is constantly being upgraded as consumers’ demands for comfort and experience continue to rise. For example, in the smart home sector, for example, smart casters have become a new trend. Through Bluetooth and Wi-Fi technologies, smart casters can connect with smartphones, smart speakers and other devices to realize remote control and positioning functions, bringing users a more convenient and comfortable experience. According to MarketsandMarkets, the global smart casters market size will reach more than $1 billion in 2025.
Post time: Nov-18-2023