The carbon brush market is expected to grow to US$ 2,900 million by 2023. Growth in the market is anticipated from 2023 to 2033, albeit a slow 4.5% CAGR.
The market should be worth more than US$ 4,503.6 million in 2033. Additionally, the industry has the potential of creating a US$1,603.5 million absolute dollar opportunity between 2023 and 2033.
As per the report, the global carbon brush market is projected to observe remarkable growth during the forecast period, owing to aspects such as rising demand from industrial applications, automotive, and electrical hand tools.
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Increasing production is sectors such as industrial applications, automotive, electrical goods, household appliances, energy, and healthcare, among others, has resulted in a drastic growth in the demand for carbon brushes, which are used to conduct electrical current between the stationary and rotating parts 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.
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-thirds 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 applications in the automotive industry, which is also expected to create significant revenue for the global carbon brush market.
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.
Key Companies Profiled:
- Morgan Advanced Materials
- Mersen SA
- Toyo Tanso Co., Ltd.
- Robert Bosch GmbH
- Schunk GmbH
- Pelican Carbon Brush Pvt. Ltd.
- Aupac Co., Ltd.
- Helwig Carbon Products Inc
- Assam Carbon Products Limited.
- Naeem Carbon and Industrial Products LLP
- Phynyx Industrial Products Pvt. Ltd.
- National Carbon Brush Products
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Carbon Brush Market by Category
By Product Type:
- General Graphite
- Metal Graphite
- Carbon Graphite
- Electro Graphite
- Silver Graphite
- Resin-Bonded Graphite
By Application:
- Motor
- Generator & Alternator
- Current & Signal Transmission
- Grounding Devices
By Sales Channel:
- OEM
- Aftermarket
By End Use:
- Automotive
- Electrical Hand Tools
- Industrial Application
- Household Appliances
- Security and Defence
- Petrochemical
- Energy
- Healthcare
By Region:
- North America
- Latin America
- East Asia
- South Asia and Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia and Belarus
- Balkan and Baltics Countries
- Middle East and Africa
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