Casters & Cart Wheels Procurement Category Market Research Report from IBISWorld has Been Updated

Caster and cart wheel prices have been rising over the past three years mostly due to rising plastic prices and demand from industrial production. For these reasons and to help procurement professionals make better buying decisions faster, business intelligence firm IBISWorld has updated a report on the procurement of Casters & Cart Wheels in its growing collection of procurement category market research reports.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
IBISWorld industry market research
Caster and cart wheel prices are forecast to grow further over the next three years due to a combination of rising input costs and downstream demand.

Los Angeles, CA (PRWEB) August 16, 2014

The casters and cart wheels market exhibits a buyer power score of 3.7 out of 5, meaning that buyers have moderately high negotiation power in the market. There are thousands of vendors in the market, including a small number of manufacturers and a large number of wholesalers, which gives buyers many options to choose from. “Buyers benefit primarily from low market share concentration, high import penetration, limited product specialization and low switching costs,” says IBISWorld procurement analyst Cameron Roark. “Low market share concentration in the market forces vendors to compete on price, which boosts buyer power.” High import penetration also contributes to price-based competition between domestic vendors in the market and foreign caster suppliers. Limited specialization provides buyers with the ability to compare products easily between suppliers, and buyers face limited switching costs because most vendors offer similar products.

Despite competition placing downward pressure on prices of casters and cart wheels, rising downstream demand and higher input costs have been driving marginal price growth during the three years to 2014, slightly detracting from buyer negotiation power. While the average wholesaler in the market has experienced rising levels of profit, the market average profit margin has been dented by dramatically declining profit among caster manufacturers. “Declining profit places caster manufacturers at risk of bankruptcy, which raises vendor risk in the market,” adds Roark. “Nevertheless, price growth has been stable, meaning that buyers have not had to rush to enter into contracts in fear that prices will spike.”

Buyers can leverage the availability of many vendors, both domestic and foreign, to improve their rates. Buyers can typically negotiate with vendors to secure discount prices when purchasing in bulk, especially with wholesalers that have higher average profit margins. For more information, visit IBISWorld’s Casters & Cart Wheels procurement category market research report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Like IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld Procurement Report Key Topics

This report is intended to assist buyers of casters and cart wheels. Casters and cart wheels are wheels designed to be mounted to the bottom of a large object, enabling it to be mobile. This report focuses on the industrial applications of casters and cart wheels, including those mounted on material handling equipment such as industrial carts, dollies, platform trucks, service carts, cabinets, wagons and trollies. This report includes sliders and swivel plate wheels, but does not include brake systems, wheel bearings, tires, omnidirectional wheels, spherical wheels or wheelchair casters.

Executive Summary
Pricing Environment
Price Fundamentals
Benchmark Price
Pricing Model
Price Drivers
Recent Price Trend
Price Forecast
Product Characteristics
Product Life Cycle
Total Cost of Ownership
Product Specialization
Substitute Goods
Regulation
Quality Control
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Imports
Competitive Environment
Market Share Concentration
Market Profitability
Switching Costs
Purchasing Process
Buying Basics
Buying Lead Time
Selection Process
Key RFP Elements
Negotiation Questions
Buyer Power Factors
Key Statistics

About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


Contact

  • Gavin Smith
    IBISWorld Inc.
    +1 (310) 866-5042
    Email