Vibration Control Systems Market to Approach CAGR of 3.9% from 2017 to 2027
The mining and quarrying segment is projected to account for 12.4% market share in the global vibration control systems market in 2017 and it is anticipated to remain the largest end use segment at the end of the forecast period in 2027. The Transportation segment is a close second and is expected to rise to almost US$ 331 Mn by end 2027.
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The OEM sales type channel is expected to hold a market share of about 60% by the end of 2027 and is unlikely to cede this position anytime soon to the aftermarket channel in the vibration control systems market. With a CAGR of 4.2% from 2017-2027, the OEM channel is on track to grow to more than US$ 1,700 Mn by the end of the forecast period. The aftermarket sales channel is considerably smaller but should still cross US$ 1,100 Mn by end 2027.
Automation control represents more than 2/5th market share in the global vibration control systems market even though it is projected to lose 110 BPS over the course of the decade-long study. The automation control segment is estimated to cross US$ 1,100 Mn by end 2027 and prominent players are advised to focus their attention on this dynamic segment in the vibration control systems market.
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North America is renowned globally for its expertise in avionics engineering, space exploration, and automobile production. This is largely due to strong R&D and massive funding from both public and private enterprises. Organisations such as NASA have been working to develop vibration control systems designed for spacecraft that minimise vibrations and increase safety. The North America automotive sector is equally dynamic as companies seek to produce efficient, comfortable, and safe products. Companies such as Daimler, Ford, and GM are already working on design innovations to reduce weight and maximise anti-vibration system efficiency. This region typically adopts newer technologies much faster than other continents because of a strong focus on R&D.
The report profiles some of the top companies operating in the global vibration control systems market including HUTCHINSON, DynaTronic Corporation Ltd., Cooper Standard, GERB, Technical Manufacturing Corporation, LORD Corporation, Trelleborg AB, Farrat Ltd, Bridgestone Corporation, FUKOKU CO., LTD., VICODA GmbH, MÜPRO Services GmbH, Kinetics Noise Control, Inc., Dynamic Solutions Systems, Inc., Isolation Technology Inc., ACTOM PTY LTD, Fabreeka, VSL International Ltd., Resistoflex (P) Ltd., and Guangzhou YiTaoQianChao Vibration Control Technology Co Ltd.
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