Future Market Research’s new market research report titled, ‘Carbon Brush Market: world business Analysis and Market Forecast 2022–2029′, scrutinizes the carbon brush market, and offers vital insights for the forecast amount between 2022 and 2029.
As per the report, the worldwide carbon brush market is projected to look at exceptional growth throughout the forecast period, as a result of the aspects comparable to rising demand from industrial applications, automotive, and electrical hand tools.
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The marketplace for the global carbon brush market was valued at over US$ 2.7 Bn within the year 2022 and is predicted to expand at a CAGR of nearly 3.8% throughout the forecast amount of 2022 to 2029.
Increasing production in sectors such as industrial applications, automotive, electrical goods, social unit appliances, energy, and healthcare, among others, has resulted in a very forceful growth within the demand for carbon brushes, that are accustomed conduct electrical current between the stationary and rotating components of a motor. This describes the anticipated growth of the carbon brush market during the forecast period.
East Asia Projected to Offer Noteworthy Growth Opportunities to the Carbon Brush Market Players
The global carbon brush market is considerably consolidated, with the top 4 players accounting for around one-fourth share of the overall market.
Apart from these 4 players, there are few players in the market that have established themselves at domestic and as well as global levels. Subsequently, market players involved in the carbon brush market are poised to expand into lucrative regions, and are also expending their manufacturing facilities to cater to the ever-growing demand.
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In the global carbon brush market, East Asia is expected to be a prominent region throughout the forecast period, because of the increasing production and consumption of carbon brushes in China. Beside East Asia, North America, including countries such as the U.S. and Canada, is also anticipated to be a lucrative region for the carbon brush market.
The increasing consumption of electrical appliances, industrialization, and surge in automobile sales are some of the cited factors driving the growth of the carbon brush market in East Asia.
Motor Segment, by Application Type, and Industrial Application Segment, by End-Use Industry, to Remain Prominent Over the Forecast Period
Based on product type, the electro graphite segment is expected to remain a dominant segment in the forthcoming years, accounting for a protruding share in the global carbon brush market throughout the forecast period. In terms of the growth rate, the electro graphite segment is considered to project relatively higher growth in the coming years.
On the basis of application, the motor segment is estimated to account for nearly one-third of the market size, owing to their vast applications in various end-use verticals. Based on sales channel, the aftermarket segment is estimated to account for nearly two-third of the market size throughout the forecast period.
Carbon brushes have significant applications in various end-use industries such as automotive, electrical hand tools, industrial applications, household appliances, security and defence, petrochemicals, energy, and healthcare, among others.
The industrial applications segment is projected to be one of the prominent end-use industry segments in the carbon brush market, and is expected to account for more than one-third of the total carbon brush market throughout the forecast period. Besides industrial applications, carbon brushes also find important application in the automotive industry, which is also expected to create significant revenue for the global carbon brush market.
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Carbon Brush Market: Vendor Insights
The report highlights some of the market players that are prominent and are leaders in the global carbon brush market.
Some of the examples of the key players in this market are Morgan Advanced Materials, Mersen SA, Robert Bosch GmBH, Schunk GmBH, Toyo Tanso Co., Ltd, Pelican Carbon Brush Pvt. Ltd, Helwig Carbon Products Inc., Aupac Co., Ltd, Assam Carbon Products Limited, Naeem Carbon & Industrial Products LLP, Phynyx Industrial Products Pvt. Ltd, and National Carbon Brush Products, among other players.
For additional actionable insights on the current and prospective market scenario of carbon brush, write in to the analyst at press@futuremarketinsights.com