Newark, NJ, May 18, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global vibration control system market is expected to grow from USD 4.32 billion in 2019 to USD 7.00 billion by 2027, at a CAGR of 6.2% during the forecast period 2020-2027. Asia-Pacific region is expected to witness the highest growth rate during the forecast period. The growth of industrial activities in the area, particularly in India, China, and Japan is the primary driver for market growth. The low cost of capital and rising investments in technological development in the region will contribute to the growth of the market. The presence of various governmental schemes for promotion of utilization of vibration control systems in the industries is also expected to lead to the growth of the market. North America dominates the market with the highest market share due to high demand in the defence sector, and healthcare and aviation industries. USA holds the largest market share in the region due to the presence of leading players of the market. The rise in food and beverages, automotive, and electrical sectors will also fuel the market growth.
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The leading players of the market include Lord Corporation, ContiTech AG, Resistoflex (P) Ltd., HUTCHINSON, Sentek Dynamics Inc., Fabreeka, Isolation Technology Inc., VICODA GmbH, Kinetics Noise Control, Inc, and Trelleborg AB. The players are focusing on research and development strategies to gain a competitive share and increase their market share. The expansion of business activities of Trelleborg AB in India by opening up its production plant is aimed to increase its supply to railways through easy availability of vibration control systems.
This study delivers a comprehensive analysis of system types, industry verticals, components and regions. On the basis of system type, the market can be divided into vibration control, automation control, and motion control. Vibration control system can be further divided into isolating pads and isolators. The vibration control system is expected to grow at the highest rate during the forecast period. The growth can be attributed to the use of multifunctional devices in power plants and different oil and gas industries. On the basis of industry verticals, the market can be divided into automotive, aerospace and defence, electronics, military, healthcare and others. The electronics market is expected to dominate the market and portray the highest growth rate during the forecast period. With the rise in automation in the industrial sector, the demand for the system is increasing. On the basis of the component, the market can be divided into hardware and software. The software segment is expected to dominate the market and show the highest growth rate due to rising use of digital active noise and vibration control systems.
The rise in aviation and automotive industry is expected to drive the market growth. The technological advancements in the aircraft industry for reducing vibrations like vapour compression systems (VCS) is the significant driver for market growth. The increasing security and safety requirements for the machines has led to the rising demands for vibration control systems in the industries. Customer convenience and comfort also plays a significant role in raising the demand for vibration control system.
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About the report:
The global vibration control system market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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