PUBLISHER: The Business Research Company | PRODUCT CODE: 1695292
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695292
Wear Parts Global Market Report 2025
Wear parts are integral components of machinery engineered to deteriorate or fail over time with repetitive use, necessitating periodic repair or replacement to maintain optimal machinery performance and longevity. They serve to safeguard more critical machinery components from damage.
The primary product categories within wear parts include ceramic wear parts, metal wear parts, and others. Ceramic wear parts are crafted from ceramic materials engineered to withstand wear, abrasion, and harsh conditions across diverse industrial applications. These parts are constructed from materials such as steel, tungsten carbide, ceramics, and polymers, and are categorized by wearing mechanisms such as abrasive wear, fatigue wear, adhesive wear, and corrosion wear. They find application in various sectors including mining, machining, construction, automotive, aerospace, chemical and petrochemical industries, among others.
The wear parts market research report is one of a series of new reports from The Business Research Company that provides wear parts market statistics, including wear parts industry global market size, regional shares, competitors with a wear parts market share, detailed wear parts market segments, market trends and opportunities, and any further data you may need to thrive in the wear parts industry. This wear parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The wear parts market size has grown strongly in recent years. It will grow from $648.87 billion in 2024 to $689.4 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to industrial growth, increased mining and exploration activities, maintenance and replacement cycles, globalization and trade, rising demand for energy.
The wear parts market size is expected to see steady growth in the next few years. It will grow to $834.12 billion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to renewable energy expansion, focus on infrastructure renewal, digitalization of supply chains, automation and robotics in manufacturing, rising agricultural mechanization. Major trends in the forecast period include advanced materials and coatings, predictive maintenance solutions, digitalization and industry 4.0 integration, innovations in 3D printing, remote monitoring and iot integration, customization for specific applications.
Growth in the construction industry is anticipated to drive the expansion of the wear parts market in the coming years. Construction involves the building, assembling, or creation of structures, facilities, or infrastructure. Wear parts are integral to the construction industry, as they improve the durability, performance, and safety of equipment, reducing downtime and costs, and ultimately contributing to the efficiency and success of construction projects. For example, in July 2024, the UK Office for National Statistics reported that total investment in the infrastructure sector reached $18.0 billion (£13.8 billion) in constant prices for 2023, marking a 3.9% increase from 2022. The estimated net stocks of infrastructure in the market sector totaled $456.9 billion (£350.2 billion) in constant prices for 2023, showing a 0.3% rise over the previous year. Furthermore, general government investment in infrastructure increased by 9.6%, reaching $34.1 billion (£26.0 billion) in current prices for 2022, compared to 2021. Therefore, the expanding construction industry is fueling growth in the wear parts market.
Key players in the wear parts market are expanding their production development efforts by establishing dedicated wear parts divisions to manufacture and sell replacement wear parts and ensure swift deliveries. These wear parts divisions serve as specialized business units focused on producing and distributing replacement wear parts, such as screws and barrels, for all brands of twin-screw extruders. For instance, in February 2023, ENTEK, a US-based global manufacturing company, launched its Wear Parts Division. This division operates within ENTEK's new 98,000-square-foot manufacturing plant in Henderson, Nevada. With a $15 million investment, ENTEK has expanded its facility to bolster the production of wear parts, twin-screw extruders, and material handling equipment. The establishment of this division aims to provide industry-leading lead times for replacement wear parts and supports the growth of existing customers while driving expansion in the parts business.
In July 2023, Construction Forms Inc. (CFI), a US-based manufacturer specializing in concrete pumping systems, acquired Tricon Wear Solutions for an undisclosed sum. This acquisition is strategically aimed at bolstering CFI's presence in the wear solutions sector, particularly within the construction and industrial markets. By integrating Tricon Wear Solutions' expertise and product offerings, CFI seeks to enhance its portfolio and capabilities in the wear solutions segment, ultimately strengthening its market presence and providing expanded offerings. Tricon Wear Solutions LLC, also based in the US, specializes in manufacturing and supplying abrasion-resistant steel products and wear solutions.
Major companies operating in the wear parts market report are Metso Outotec Corporation, Castolin Eutectic, Miller Industries Inc., Berco Mining Products Inc., Magotteaux International S.A., Varel International Energy Services, Hensley Industries Inc., Black Cat Wear Parts Ltd., Columbia Steel Casting Co. Inc., Spokane Industries Inc., Boundary Equipment Co. Ltd., Brunner & Lay Inc., Steel Unlimited Inc., Redexim B.V., Bailey-Parks Urethane Inc., Wabi Iron & Steel Corp., Frictec Ltd., Wear Parts & Equipment Company Inc., QMS Quarry Manufacturing & Supplies Ltd., Whites Wearparts Ltd., Palbit S.A., Wear Parts Services Inc., LSW Wear Parts Ltd., Ballantine Inc., Nanchang Mineral Systems Co. Ltd.
North America was the largest region in the wear parts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wear parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the wear parts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The wear parts market consists of sales of wear plates, wear liners, bearings and bushings, seals and gaskets, and wear-resistant belts. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Wear Parts Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on wear parts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Scope
Table of Contents
1. Executive Summary
2. Wear Parts Market Characteristics
3. Wear Parts Market Trends And Strategies
4. Wear Parts Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market
5. Global Wear Parts Growth Analysis And Strategic Analysis Framework
- 5.1. Global Wear Parts PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
- 5.2. Analysis Of End Use Industries
- 5.3. Global Wear Parts Market Growth Rate Analysis
- 5.4. Global Wear Parts Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
- 5.5. Global Wear Parts Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
- 5.6. Global Wear Parts Total Addressable Market (TAM)
6. Wear Parts Market Segmentation
7. Wear Parts Market Regional And Country Analysis
8. Asia-Pacific Wear Parts Market
9. China Wear Parts Market
10. India Wear Parts Market
11. Japan Wear Parts Market
12. Australia Wear Parts Market
13. Indonesia Wear Parts Market
14. South Korea Wear Parts Market
15. Western Europe Wear Parts Market
16. UK Wear Parts Market
17. Germany Wear Parts Market
18. France Wear Parts Market
19. Italy Wear Parts Market
20. Spain Wear Parts Market
21. Eastern Europe Wear Parts Market
22. Russia Wear Parts Market
23. North America Wear Parts Market
24. USA Wear Parts Market
25. Canada Wear Parts Market
26. South America Wear Parts Market
27. Brazil Wear Parts Market
28. Middle East Wear Parts Market
29. Africa Wear Parts Market
30. Wear Parts Market Competitive Landscape And Company Profiles
31. Wear Parts Market Other Major And Innovative Companies
32. Global Wear Parts Market Competitive Benchmarking And Dashboard
33. Key Mergers And Acquisitions In The Wear Parts Market
34. Recent Developments In The Wear Parts Market
35. Wear Parts Market High Potential Countries, Segments and Strategies
36. Appendix
