New Study Expects Noise Control System Market to Touch US$ 15 Bn Valuation by 2027-End
Noise Control System Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’ that studies the global noise control system market in detail. The global noise control system market is on track to record a robust CAGR of 5.8% and be worth more than US$ 53 Bn by 2027 end.Forecast by Material Type: Fibreglass and Foam to Remain Dominant : Fibreglass and Foam have a combined market share of nearly 3/5th of the noise control system market and are anticipated to retain this share to a significant degree till the end of the forecast period.
Fibreglass represents a market opportunity of just under US$ 20 Bn while Foam is predicted to have a value of nearly US$ 13 Bn by end 2027; Forecast by Product Type: Tiles, Panels and Doors to Hold Larger Market Share : The Tiles, Panels, and Doors segments are likely to remain at the top in the global noise control system market by product type as these three segments are the only ones poised to cross a value of US$ 10 Bn by the end of the decadal study. Of these three, the Tiles segment is slated to reach a market valuation of almost US$ 13.4 Bn by the end of 2027.
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Forecast by Application: Industrial Application Projected to Dominate the Global Market : The Industrial application alone has a market share of more than 50% in the global noise control system market and it is estimated to gain 47 BPS during the course of the study. The Industrial application segment is greater than that of the Commercial and Residential segments combined with an anticipated value exceeding US$ 28 Bn by end 2027; Forecast by Sales Channel: OEM Channel Larger than After Sales :
The OEM channel has a market share of about 59% in the global noise control system market during the forecast period. However, the After Sales segment is projected to witness a slightly higher CAGR of 5.9% during this period and cross a value of US$ 21 Bn by 2027 end.Forecast by Region: APEJ to Gain Substantial Basis Point Share : APEJ is estimated to grow with a substantial 46 BPS from 2017 to 2027 and this is largely at the expense of other regions such as Japan and Western Europe that show notable declines. Besides North America,
APEJ is the sole region that is anticipated to cross US$ 10 Bn by the end of 2027; Global Noise Control System Market: Competition Dashboard : The main companies profiled in the noise control system market report are Saint Gobain, Armstrong World Industries Inc., USG Corporation, GP Industries Ltd, Knauf Insulation, SIAC PTE LTD, Kinetics Noise Control, QUIETSTONE UK LTD, Acoustical Surfaces, Acoustical Solutions, Noise Barriers, FAIST Anlagenbau GmbH, Iac Acoustics, Nihon Onkyo Engineering, Polymer Technologies, VAW Systems, Acoustic GRG Product, and All Noise Control LLC.
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Important takeaways from the report : Rapid industrialisation has led to the scourge of noise pollution in both developed as well as emerging economies and both governments and the general public have become well-aware of this global menace. Governmental regulations coupled with introduction of multifunctional barrier systems should benefit the noise control system market. Even the consumer electronics industry has veered towards noise control systems by marketing their ‘noise-cancellation’ headphones and helmets that are widely deployed in aircrafts. The impact of the noise control system market has also been felt in home décor with acoustic engineering solutions.
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