Published Date : Mar 01, 2016
Heavy duty industry components such as pipes, lines, turbines, cranes, and silos and automotive components such as bunkers are prone to corrosion and abrasion. To avoid such incidents in the workplace, it has become vital to install heavy duty wear protection systems. Rapid industrialization has propelled the global heavy duty wear protection systems market in the recent past.
What would Boost Global Market for Heavy Duty Wear Protection Systems?
However, fluctuating costs of heavy-duty wear protection systems are expected to hamper the development of the market in the years to come. The rising market for wear-proof components coupled with fluctuating heavy industry project costs is predicted to affect the growth of the global heavy duty wear protection systems market.
Ceramic, rubber, steel, and plastic are some of the popularly used materials by leading companies to make heavy duty wear protection systems and products. End-use industries such as mining, wood, pulp and paper, iron and steel, transportation and automotive, agriculture and farming, and marine are expected to generate more demand for heavy duty wear protection systems in the years to come.
The demand for heavy duty wear protection systems from the oil and gas industry is expected to be the highest. Asia Pacific is predicted to register the maximum demand for and developments in the heavy duty wear protection systems in the coming few years. Entry of new players is predicted to make the global heavy duty wear protection systems market more competitive.