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.

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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.

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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.

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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

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.