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The industrial brushes market share is expected to increase by USD 504.48 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.16%.
This industrial brushes market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial brushes market segmentations by end-user (automotive, aerospace and defense, construction and utility, and others) and geography (North America, Europe, APAC, South America, and MEA). The industrial brushes market report also offers information on several market vendors, including 3M Co., Carolina Brush, Fuller Industries LLC, Gordon Brush Mfg. Co. Inc., Robert Bosch GmbH, Schaefer Brush, Spiral Brushes Inc., Tanis Brush Inc., The Industrial Brush Company Inc., and Unimade Industry Co. Ltd. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The emerging markets spurring automotive sales is notably driving the industrial brushes market growth, although factors such as volatility in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial brushes industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Industrial Brushes Market Driver
The emerging markets spurring automotive sales is notably driving the industrial brushes market growth. Emerging markets will drive global automotive sales, thus impacting the volume sales of industrial brushes. Industrial brushes are used in the automotive sector for tasks like buffing, polishing, and finishing. The main end-users of industrial brushes include the manufacturers of auto parts and automobile restoration specialists. Therefore, the demand for industrial brushes is very high among automobile manufacturers and auto repair shops, where these industrial brushes are used for surface conditioning and deburring purposes to create the final automotive products. The growing automotive sector across the globe is expected to increase the sales of industrial brushes worldwide. China has become the largest automotive market in Asia, with a booming local and international market. With the increase in automotive sales in the region, the demand for industrial brushes is also poised to grow in APAC.
Key Industrial Brushes Market Trend
Increasing demand for customized industrial brushes is the key trend driving the industrial brushes market growth. The global industrial brushes market is fragmented in nature, where the technical know-how needed for manufacturing a variety of industrial brushes is available to most of the industrial manufacturers; therefore, manufacturers are capitalizing on customizing the industrial brushes according to the needs of different industries. The application of brushes varies, depending on the end-user. Thus, vendors operating in different industries look for specialty brushes for specific applications. The industrial brushes market is one of the most specialized and diverse manufacturing industries. Therefore, vendors in the market are capitalizing on the trend of customizing industrial brushes.
Key Industrial Brushes Market Challenge
The major challenge impeding the industrial brushes market growth is the volatility in raw material. Industrial brushes are expensive when compared with other power tool accessories. The average price of an industrial brush is $10. This is mainly due to the volatility in the prices of the raw materials, which are used to manufacture them, such as steel. In the past few years, the price of steel reported volatility due to the expanding demand-supply disparity. The volatility in the prices of raw materials impacts the pricing strategy of industrial brushes vendors, thereby impacting the growth of the market. However, the volatility in the prices of the raw materials used in manufacturing industrial brushes, such as steel, is expected to continue during the forecast period. The slowdown in steel production in China will have a significant impact on the global steel market. The major reason for the volatility in steel prices is the instability in the price of the primary raw material, iron ore.
This industrial brushes market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global industrial brushes market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial brushes market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the industrial brushes market encompasses successful business strategies deployed by the key vendors. The industrial brushes market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
3M Co. - The company offers brushes under the brand names of Standard abrasives and Scotch brite.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The industrial brushes market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the industrial brushes market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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