Industrial Brushes Market: Introduction
Transparency Market Research delivers key insights on the global industrial brushes market. In terms of revenue, the global industrial brushes market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global industrial brushes market report.
In this market report, TMR predicts that the increase in demand for vehicles and other industrial products is anticipated to proliferate the demand for industrial brushes in the coming years. Increasing urbanization has resulted in generation of more demand for several industrial products. Globalization of economies, rapid developments in several emerging countries, and growing international trade is anticipated to benefit the industrial brushes market. Additionally, technological developments in several industries have contributed to growth in the industrial brushes market. Wide varieties of brushes are also attracting more consumers, which is expected to benefit the global market.
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The industrial brushes market is mainly driven by increasing demand for vehicles and industrial equipment. The growth of the automotive industry and manufacturing sectors across the globe is surging the demand for industrial brushes. Growth in automotive, aerospace, and defense industries has contributed to the surge in demand for industrial brushes. Increasing number of small scale companies in emerging economies is also encouraging the industrial brushes market.
Machine brushes held the highest market revenue share in the global industrial brushes market in 2018 and are expected to remain dominant during the forecast period. Demand for machine brushes can be attributed to their wide range of applications such as finishing, scrubbing, grinding, and polishing. As a result, the product has highest demand at the global level and is expected to maintain its dominance in the coming years.
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Based on raw material, the metal segment led the industrial brushes market in 2018 and is expected to retain its share in the near future. Dominance of this segment is due to the rise in production of motor vehicles across the globe which has grown by 2.7% in 2019 as compared to the previous year. However, increasing demand for nylon and abrasive industrial brushes by small scale players anticipated to surge its share in the coming years.
Industrial Brushes Market: Prominent Regions
Geographically, Asia Pacific led the industrial brushes market in 2018 and the region is expected to retain its dominance during the forecast period. The Asia Pacific market is driven by the large number of manufacturing units in India, Japan, and China. Europe and North America are the second and third largest regions in the industrial brushes market. Supporting government initiatives in developed countries such as the U.S., Germany, U.K., and France for manufacturing companies is driving the sales of industrial brushes.
Industrial Brushes Market: Key Players
Key players operating in the global industrial brushes market include Associated Industrial Brush Co Ltd, Gordon Brush Mfg. Co., Inc., KOTI GROUP, Spiral Brushes Inc., The Industrial Brush Company, Inc., Robert Bosch GmbH, Tanis Brush, 3M, Unimade Industry Co, Limited, and The Mill-Rose Company.
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