ID: MRFR/IA - E/6469-HCR | February 2021 | Region: Global | 100 pages
The global vibration control system market has been expected to rise at a CAGR of 5.45%, with a value of USD 5.98 billion over 2022-2030.
The vibration control system market is expected to witness increased demand globally due to the growing emphasis on mechanical stability and balancing industrial machinery and automobiles. The vibration control system is an isolation system that vigorously responds to incoming vibrations. These systems are used to control vibrations in static or moving machines and help to reduce friction and other disruptions.
The vibration control system decreases unnecessary human-mediated activities like manual inspections and unscheduled corrections. New technologies like system-on-a chip have pushed the boundaries of data acquisition. They allow real-time accurate data acquisition to be relayed immediately to handheld devices, like smartphones. One of the biggest advantages of wireless systems is that critical information can be promptly forwarded to all related functional units of the organizations simultaneously. Industries like oil and gas, chemical and petrochemical, among others, have to abide by the strict international policies which dictate the efficiency, ergonomics and employee safety and have been critical in safety-based demand generation. The automotive industry is one of the major capital investors and end-users of the vibration control system market.
The strict industry regulations, component reliability issues, and the costs associated with the development of the vibration control system in terms of research act as a barrier for new entrants. However, the growing demand for smart, adaptive and self-controlling vibration control system, technological advancement in vibration control systems, such as ANVC systems in aircraft, advanced component technology, web-based continuous machine condition monitoring, is an opportunity for expansion of this vibration control system market.
Some of the Key Market participants covered in the global vibration control system market include-
Hutchinson (France), Dynatronic Corporation Ltd. (China), Cooper Standard (US), Crystal Instruments (US), Sentek Dynamics Inc. (US), Lord Corporation (US), Spektra Schwingungstechnik Und Akustik GmbH Dresden (Germany), Technical Manufacturing Corp., (US), Gerb Vibration Control Systems, Inc., (US), and Müpro Services GmbH (Germany).
The vibration control system market is highly competitive and consists of several major players. In terms of the market share, the market share is fragmented with limited market dominance. However, with the innovative solution offering and predictive analytics integration, several market players are increasing their market worth by product and service differentiation. The current market competitive landscape for the industries for the continuous and proper functioning of the industrial equipment.
The new solutions offered by Rockwell Automation deliver build-in security based on the security standards that are globally accepted to protect the control-level communications and overall system integrity, and it is expected to address the concerns of the IIoT and smart connected machines.
The global vibration control system market is segmented on the basis of system type, component, industry vertical, application, sales channel, and region. On the basis of system type, the market has been segmented into vibration control, automation control, and motion control. On the basis of component, the market has been segmented into hardware and software. On the basis of industry vertical, the market has been segmented into automotive, aerospace and defence, electronics, military, healthcare, and others.
Geographically, the global market of vibration control system has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the rest of the world. The growth of Asia-Pacific can be attributed to the increase in government schemes and subsidies to promote the use of vibration control systems, across the country. The market for vibration control is expected to grow at the highest rate in Asia-Pacific during the forecast period, due to industrialization, primarily in China, Japan, and India. The existence of major manufacturers and operating units of global players in this region combined with the availability of sophisticated technologies enables the market to flourish.
North America is projected to witness significant growth in the vibration control system market. The growing healthcare and aviation and defense sector in the US and Canada, enable the growth of the vibration control system in North America.
The rest of the world includes the regions of South America and the Middle East & Africa. The Middle East & Africa is an emerging market owing to the increased expenditure and expansion of international players. South America is among the emerging regions, incorporating the technological changes in the market of vibration control system at a rapid pace. Countries such as Brazil and Argentina are significantly contributing to the growth of the market owing to the government initiatives, which encourage rapid development of the automotive, oil and gas, textile, and machinery and equipment industry.
|Market Size||2030: USD 5.98 bilion|
|CAGR||2030: CAGR 5.45%|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||System Type, Component, Industry Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hutchinson (France), Dynatronic Corporation Ltd. (China), Cooper Standard (US), Crystal Instruments (US), Sentek Dynamics Inc. (US), Lord Corporation (US), Spektra Schwingungstechnik Und Akustik GmbH Dresden (Germany), Technical Manufacturing Corp., (US), Gerb Vibration Control Systems, Inc., (US), and Müpro Services GmbH (Germany)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
A resilient CAGR is expected to shape the market growth in the future.
A remarkable income level is expected to be witnessed in the global market.
The mounting implementation of the active vibration control system is expected to influence market growth positively.
The sales channel, system type, industry vertical, component, application, and region are the market segments.
Lord Corporation (US), Sentek Dynamics Inc. (US), and Spektra Schwingungstechnik Und Akustik GmbH Dresden (Germany) are helping in the development of the market.