Dec 1, 2020   SOURCE: BusinessWire

Industrial Brushes Market to Grow Faster in APAC During 2020-2024 | Business Continuity Plan for New Normal | Technavio

The new industrial brushes market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Industrial Brushes Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Industrial Brushes Market 2020-2024 (Graphic: Business Wire)

Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the industrial brushes market.

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"One of the primary growth drivers for this market is the increased automotive sales in emerging markets”, says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the industrial brushes market size to grow by USD 140.17 million during the period 2020-2024.

Industrial Brushes Market Segment Highlights for 2020

  • The industrial brushes market is expected to post a year-over-year growth rate of 1.87%.
  • Based on the segmentation by end-user, the automotive segment led the market in 2019. This is due to the increased use of industrial brushes in the manufacturing of commercial and passenger vehicles.
  • The market growth in the segment will be significant during the forecast period.

Regional Analysis

  • 41% of the growth will originate from the APAC region.
  • Factors such as the increase in investments in the construction industry and the rising penetration of EVs are fostering the market growth in APAC.
  • China and Japan are the key markets for industrial brushes in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Notes:

  • The industrial brushes market size is expected to accelerate at a CAGR of over 4% during the forecast period.
  • The industrial brushes market is segmented by End-user (Automotive, Aerospace and defense, Construction and utility, and Others) and Geography (North America, Europe, APAC, South America, and MEA).
  • The market is fragmented due to the presence of many established vendors holding significant market share.
  • The research report offers information on several market vendors, including 3M Co., Carolina Brush, Fuller Industries LLC, Gordon Brush Mfg. Co. Inc., Robert Bosch GmbH, SCHAEFER BRUSH MANUFACTURING, Spiral Brushes Inc., Tanis Brush Inc., The Industrial Brush Company Inc., and Unimade Industry Co. Ltd.

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