Dublin, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The "Noise Mitigation System Market by Product Type, Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global noise mitigation system market was valued at $36.85 million in 2021, and is projected to reach $57.74 million by 2031, registering a CAGR of 4.7% from 2022 to 2031.
Noise control plays a crucial role in creating a peaceful and harmonious environment, protecting individuals from the detrimental effects of excessive noise pollution. By employing effective strategies and technologies, noise control aims to mitigate noise pollution at its source, receiver, or along its transmission path.
One area where significant advancements are being made is in the automotive industry, with the integration of soundproofing and noise-canceling technologies in vehicles. These innovations enhance the driving experience by creating a quieter and more comfortable environment for both drivers and passengers.
The global market for noise control systems has been impacted by the increasing preference of customers for products with lower noise levels. Noise pollution is a significant cause of stress in both workplaces and residences, resulting in reduced efficiency and heightened stress levels for employees. To address this, many companies are implementing noise control systems to enhance their employees' working conditions and improve their overall productivity.
The increasing focus on environmental sustainability and community engagement is a major driver of growth because, besides humans, high-decibel noise is also affecting wild and marine life. As living creatures are more dependent on noise for their migration, there is a disruption in their life cycle. As a result, the oil and gas industry are implementing noise control systems.
Advancements in technology are also driving market growth, as new and innovative noise mitigation systems are developed and brought to market. This includes the use of eco-friendly materials, energy-saving technologies, and smart technologies, which are helping to reduce the environmental impact of oil and gas operations while also providing more effective noise control solutions.
The noise mitigation system market is driven by various factors, including the increasing demand for such systems from industries such as construction, transportation, and manufacturing. Additionally, growing environmental concerns and a focus on noise reduction in urban areas have contributed to the market's growth. Another significant driver is the rising awareness of the negative effects of noise pollution on health and well-being. Technological advancements and product innovation in noise mitigation systems have also helped to expand the market.
However, the high initial installation costs of noise mitigation systems can be a major restraint on market growth, along with a lack of awareness about the benefits of noise mitigation in some regions. Retrofitting noise mitigation systems in existing structures can also pose significant challenges.
Despite these challenges, the noise mitigation system market presents various growth opportunities. For example, the market is expected to experience high demand in emerging markets, driven by rapid urbanization and industrialization. Furthermore, the increasing adoption of green buildings and sustainable construction practices is likely to create a significant demand for noise mitigation systems.
Advancements in noise mitigation technologies, such as active noise control and sound masking, also present opportunities for market growth. Finally, government initiatives to promote noise reduction and noise mitigation technologies can help to drive market expansion.
The key players profiled in the noise mitigation system industry include Yamaha Corporation, Kinetics Noise Control, Inc., Knauf Gips KG, Armstrong World Industries Inc., SysTech Design Inc., Noise Barriers, Acoustical Surfaces, Inc., Quietstone UK Ltd., USG Corporation, and McGill AirSilence LLC.
These key players adopt several strategies such as product launch and partnership to increase the noise mitigation system market share during the forecast period.
Key Market Insights
- By product type, the acoustic tiles segment was the highest revenue contributor to the market, with $9.73 million in 2021, and is estimated to reach $17.55 million by 2031, with a CAGR of 6.18%.
- By application, the industrial segment was the highest revenue contributor to the market, with $17.83 million in 2021, and is expected to follow the same trend during the forecast period.
- Based on region, North America was the highest revenue contributor, accounting for $12.47 million in 2021, and is estimated to reach $19.76 million by 2031, with a CAGR of 4.81%.
- By Country, the U.S. was the highest revenue contributor, accounting for $7.12 million in 2021, and is estimated to reach $11.7 million by 2031, with a CAGR of 5.19%.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 281 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $36.85 million |
| Forecasted Market Value (USD) by 2031 | $57.74 million |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Strict laws to prevent noise pollution.
- Requirement for environment-friendly and energy-efficient solutions
Restraints
- Power consumption is a significant barrier to the market
Opportunities
- Incorporation of soundproofing and noise cancellation technologies into automobiles
Company Profiles
- Kinetics Noise Control, Inc.
- McGill AirSilence LLC
- USG Corporation
- Noise Barriers
- Yamaha Corporation
- Knauf Gips KG
- Quietstone UK Ltd.
- Acoustical Surfaces, Inc.
- SysTech Design Inc.
- Armstrong World Industries Inc.
For more information about this report visit https://www.researchandmarkets.com/r/y64tzh
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