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Heavy Duty Wear Protection Systems Market

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Growth of Heavy Duty Industries boosts Global Heavy Duty Wear Protection Systems
Market
The global heavy duty wear protection systems market witnesses the prominence of a
few large players, states Transparency Market Research (TMR) in a new market study.
Extensive requirement of manufacturing capabilities and capital intensive nature of
units for the manufacture of heavy duty wear protection systems limits participation
from large players. However, the heavy duty wear protection market has the presence
of some small players that vie to partner with large ones, adds the report.
Top companies having a significant presence in the global heavy duty wear protection
systems market include Sandvik Construction, CeramTec GmbH, Kalenborn
International GmbH & Co. KG, Bradken Limited, Sulzer Ltd, Metso Corporation,
FLSmidth & Co. A/S, ThyssenKrupp Industrial Solutions AG, and Thejo Engineering
Limited.
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According to the TMR report, the global heavy duty wear protection systems market
is likely to rise at a tepid 4.3% CAGR from 2015 to 2023. Rising at this pace, the
market is likely to be worth US$2.06 bn by 2023 increasing from US$1.4 bn in
2014.
Among key material types, ceramic wear protection system is anticipated to display
the leading growth rate over the forecast period. The high durability and wide
applicability of ceramic coats account for their expansive use for wear protection
systems. Among the key end users, in 2014, oil & gas and iron and steel industries
held the leading revenue shares in the overall heavy duty wear protection systems
market. Going ahead, with predictions of exponential growth of the oil & gas sector
in the Middle East & Africa, the heavy duty wear protection systems market is
expected to receive a boost in the region.
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Measures to attain Complete Life of Equipment in Heavy Duty Industries pushes
Demand
Across the world, growth of heavy duty industries such as rubber, ceramic, steel, and
plastic is favoring the growth of ancillary industries. These industries employ
equipment and processing units that are exorbitantly expensive and are difficult to
replace or even repaired very often. The long life of the equipment as claimed by the
manufacturer of these equipment can be attained if the optimum ambient conditions
are provided. This includes protection from wear and tear as well.
Heavy duty wear protection systems are an integral component of heavy duty
industries at various stages. For example, conveyor belt of an assembly are protected
with heavy duty wear protection. The protection gear is specifically placed at those
parts that are particularly prone to wear. This is providing tailwinds to the heavy
duty wear protection systems market.
Susceptibility of Heavy Duty Components to Corrosion necessitate Wear Protection
System
Heavy duty components such as pipes, cranes, lines, turbines, silos, and automotive
components are susceptible to abrasion and corrosion. The breakdown of one single
component in the entire assembly results into production loss and monetary loss for
plant owners. To prevent such situations, use of heavy duty wear protection for these
components is a common practice in heavy duty industries. The heavy duty wear
protection systems market is thus benefitted.
The review presented is based on the findings of a TMR report, titled “Heavy Duty
Wear Protection Systems Market (Material Type: Ceramic, Rubber, Steel, Plastic; Enduse Industry: Transportation and Automotive, Oil and Gas, Iron and Steel, Mining,
Power Plants Construction, Wood Pulp and Paper, Others) - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 – 2023.”
Author
monaliraghu
monaliraghu232   documents Email
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system, heavy, duty, market, wear, protective
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