Increasing demand for carbon motors brushes from the automotive industry is anticipated to drive the market. The industry requires brushes for auxiliary and small DC motors, as well as for alternators and starters.
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. 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.
In January 2022, for instance, the International Trade Administration published a report which states that China is considered to be the world’s largest vehicle market in terms of both manufacturing output and annual sales. By 2025, the domestic production is likely to reach 35 million vehicles in this country, which is projected to drive the demand for automotive carbon brushes over the forecast period.
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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.
A list of Key Players Covered in the Carbon Brush Market are:
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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, few players in the market 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 expanding their manufacturing facilities to cater to the ever-growing demand.
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. Besides 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.
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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.
Based on application, the motor segment is estimated to account for nearly one-third of the market size, owing to its vast applications in various end-use verticals. Based on the sales channel, the aftermarket segment is estimated to account for nearly two-thirds of the market size throughout the forecast period.
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 applications in the automotive industry, which is also expected to create significant revenue for the global carbon brush market.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Aug 30, 2022
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