Vibration Control System Market Will Propel The Growth While This Segment Will Hold Nearly 30% Of The Market Share by End 2031
Demand for vibration
control systems is likely to witness a revival in 2021, according to
the latest edition of the study by ESOMAR-certified market research firm,
Future Market Insights (FMI). The study also finds that a significant
percentage of industry players are confident of growing investments in
automation, a strategy stalled by COVID-19 outbreak. However, the pace of
recovery is likely to be muted in 2021, with a robust recovery anticipated in
2022 onward.
As the automotive industry has grown significantly over the
past years, the demand for various type of vibration control systems such as
automation control, motion control, vibration control, and others has increased
substantially. With vibration control system manufacturers bringing in a flurry
of products, Future Market Insights (FMI) expects outlook to be bullish during
the period 2021-2031
As the key end-use industries such as mining &
quarrying, food manufacturing, textiles, and others are subject to expend
further, the vibration control system manufacturers are expected to witness
significant demand in the future.
To Know more@
https://www.futuremarketinsights.com/reports/vibration-control-systems-market
Key Takeaways
- High
demand for anti-vibration cylinders likely to be witnessed
- Original
Equipment Manufacturers (OEM) continue to be preferred by end-users
- Rise
in requirement from transportation industry to fuel sales of vibration
control systems
- Sales
in US will be nearly 50% of global demand
- China
remains a strong market in APAC
- Sales
in Japan and South Korea expected to recover steadily
“With rise in requirement from end-users with fast-paced
growth, vibration control system manufacturers are projected to witness
significant opportunities. Surge in demand for vibration control system will
propel the growth while this segment will hold nearly 30% of the market share,”
says an FMI analyst.
Automotive Industry Outlook Key to Future Sales
As vibration control is of utmost importance in automotive
industry, the steady growth in this industry is raising the demand for it
further around the globe. According to the European Commission (EC), the automotive
industry is crucial for Europe’s prosperity, representing 8.5% of European
Union (EU) employment in manufacturing, while the turnover generated by the
automotive industry in Europe represents over 7% of EU GDP.
According to the Select USA, the U.S. automotive industry is
expanding steadily, while in 2018, the additional exports of automotive parts
were valued at US$ 88.5 billion. As stated by the United States Auto Alliance,
of the US$ 105 billion spent on R&D globally, almost a fifth (US$ 18 billion)
was spent in the U.S. in 2018. As these rates are forecast to increase further,
the players in the vibration control system industry are set to experience
significant growth in the coming years.
Who is Winning in this Space?
The global vibration control system market remains fiercely
competitive. To consolidate their position, the key players are emphasizing on
diversifying their products. For instance,
- Lord
Corporation announced a new brand for its portfolio of electromechanical
products: Lord Electromechanical Solutions in 2018
- Cooper
Standard launched its new range of vibration control system solutions
applicable for diverse end-use industries, while it named to Newsweek’s
America’s most responsible companies 2021 list.
Key Players:
The global vibration control system is fragmented – some of
the key players operating in the global vibration control system market are-
- HUTCHINSON
- DynaTronic
Corporation Ltd.
- Cooper
Standard
- GERB
- Technical
Manufacturing Corporation
- LORD
Corporation
- Trelleborg
AB
- Farat
Ltd
- Bridgestone
Corporation
- FUKOKU
CO., LTD
- VICODA
GmbH
- MUPRO
Services GmbH
- Kinetics
Noise Control, Inc.
- Dynamic
Solutions Systems, Inc.
- Isolation
Technology Inc.
- ACTOM
PTY LTD
- Fabreeka
- VSL
International Ltd.
- Resistoflex
(P) Ltd.
- Guangzhou
YiTaoQianChao Vibration Control Technology Co Ltd
Market players are focusing on new product launches and
innovation to consolidate their position.
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