Vibration Control Systems Market: Key Players, Applications, Outlook, SWOT Analysis And Forecasts By 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 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.

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 SalesAs 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

More Valuable Insights on Vibration Control System Market

In its latest report, Fact.MR offers unbiased analysis of the global vibration control system market, providing historical data for the period of 2016–2020 and forecast statistics for the period of 2021–2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of system (vibration controls (isolating pads, isolators (metal, rubber), couplings (spool, shear, bolt, bush), anti-vib cylinders (male, female)), motion controls (springs (air, coil), hangers, washers & bushes, mounts (hydraulic, pneumatic)), automation control (absorber (miniature, industrial, heavy industrial), dampers (hydraulic, pneumatic, damping pads))), end-users (mining & quarrying, oil & gas, utilities, transportation, food manufacturing, beverages & tobacco, textile mills, bi-products, chemical manufacturing, electrical equipment, machinery manufacturing), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

Access Full report: https://www.futuremarketinsights.com/reports/vibration-control-systems-market

 

Comments

Post a Comment

Popular posts from this blog

Solar Inverter Market Assessment and Key Insights Analyzed Till 2032

  The global   solar invertor market   is set to reach a valuation of   US$ 11 Bn   in 2022. Sales in the market are forecast to increase at a   6% CAGR   over the forecast period. Increasing usage of solar panels and renewables energy will augment the growth in the market. Hig adoption of solar invertors in the residential, commercial, and industrial and utilities will continue driving sales in the market. Over the past years, manufacturers are expanding their product lines with new technological advancement in the invertor technologies. As solar energy utilisation in photovoltaic systems is mostly dependent on the inverter, solar inverters are potentitally beneficial for lowering global warming and greenhouse impact. “Increasing awareness regarding energy-efficient household equipment, along with stringent regulations pertaining to carbon emissions and energy consumption will drive sales of solar invertors,” says an FMI analyst. Key Takeaways: Based on product type, demand in the cen
Read more

Tower Crane Market: Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2020-2030

  Global tower crane sales are set to be valued at US$ 19.3 Bn in 2021, with a stable long-term projection, according to latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm. The report estimates global  tower crane market  to grow at nearly 4.8% during 2021-2031. The report offers analysis in 20+ high-growth markets, providing detailed insights on tower cranes market growth will evolve in the next decade. Get | Download Sample Copy with Graphs & List of Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-4620 Demand for tower crane waned in 2020, due to the recessionary effects of COVID-19 on the construction activities, resulting in retardation of new and rental sales of tower cranes However, barring a few countries, the construction activities has resumed at a healthy rate post Q2 of the financial year. With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of Tower Crane
Read more

Automated Parcel Delivery Terminals Market Current Scenario Trends, Comprehensive Analysis and Regional Forecast to 2032

 According to industry estimates, the global market for  automated parcel delivery terminals  will reach US$ 720 Million   by 2022 and is expected to reach US$ 2 Billion by 2032 while recording a CAGR of 10.9% during the forecast period from 2022 to 2032. With a growing demand for more deliveries and increasing pressure for shorter response times, there is a growing need for shorter transportation times in the automated parcel delivery terminals in the market. Increasing demand for online medicine delivery apps as well as same-day delivery systems has resulted in significant growth in the market for automated parcel delivery terminals. Market participants are experiencing new methods of parcel delivery with the growing adoption of innovative distribution channels. E-commerce companies, retailers, and manufacturers are working together in order to meet consumer demands in real-time while minimizing operational costs. To provide customers with individualized service, companies are in
Read more