Vibration Control Systems Market 2017-2027 Latest Trends and Growth with Top Key Players- HUTCHINSON, DynaTronic Corporation, Cooper Standard, GERB, Technical Manufacturing Corp
In terms of value, the global vibration control systems market is expected to grow at a value CAGR of 3.9% during the forecast period. The global vibration control systems market was valued at US$ 1,899.0 Mn in 2016, and is projected to grow significantly to reach US$ 2,903.9 Mn by 2027 due to growth in the sale of automobiles, increasing urbanisation and the expansion of oil & gas industries.
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In this report, FMI has segmented the global vibration control systems market on the basis of system, sales type, end use and region. By system, the vibration control systems market is sub-segmented into vibration controls, motion controls and automation controls. By sales type, the vibration control systems market is sub-segmented into O.E.M. and aftermarket. Based on end users, the vibration control systems market is sub-segmented into mining & quarrying, oil & gas, utilities, transportation, food manufacturing, Beverages & tobacco, textile mills, petroleum & coal products manufacturing, chemical manufacturing, electrical equipment and machinery manufacturing.
The increasing adoption of vibration control systems in the aviation and avionics industry is one of the major factors driving the vibration control systems market. In terms of value, the automation controls sub-segment is projected to register more than 40% of the market share at the end of 2017 in the global vibration control systems market. Moreover, the increasing end-uses of vibration controls in various power plants and oil & gas industries and the increasing demand for vibration control systems that can withstand tough environments with better durability for fully automated manufacturing plants are among major factors driving the vibration control systems market. In terms of volume, the motion control sub-segment is expected grow at a relatively higher CAGR as the demand for motion control systems is increasing for replacement and maintenance purposes.
Based on end users, the oil & gas end-user sub-segment is expected to grow with a decent CAGR of 5.1% over the forecast period due to the expansion of oil & gas industries and rapid increase in oil & gas exploration activities. Furthermore, the mining & quarrying sub-segment is expected to capture the largest market share in the vibration control systems market owing to improvements in the techniques used in the mining and quarrying industry. In terms of value, the mining & quarrying sub-segment is expected to create an incremental opportunity of US$ 137.8 Mn during the forecast period in the vibration control systems market.
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Furthermore, the global vibration control systems market has been segmented into seven major regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). In terms of value, the APEJ vibration control system market is estimated to expand with a CAGR of 4.5% over the forecast period, which can be attributed to aggressive government schemes and subsidies to promote the usage of vibration control systems in the region and due to increasing industrialisation, regulations and policies. The vibration control systems market in North America is projected to increase by 1.5X between 2017 and 2027 as rapid industrialisation and installation of new industries, such as manufacturing and processing, are driving the demand for vibration control systems in the region.
Key market participants covered in the report include HUTCHINSON, DynaTronic Corporation, Cooper Standard, GERB, Technical Manufacturing Corp, LORD Corporation, Trelleborg AB, Farrat ltd, Bridgestone Corporation, FUKOKU CO., LTD, and VICODA GmbH.
The report also describes company-specific strategies, key differentiators, market structure and competitive share analysis related to prominent industry stakeholders.
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