SAN FRANCISCO, April 23, 2020 /PRNewswire/ -- The global vibration control system market size is expected to reach USD 6.7 billion by 2027, registering a CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. Growing adoption of the technology in healthcare applications is expected to drive market growth over the forecast period. Vibration control systems are being used in healthcare applications to mitigate the impacts of quiver on sensitive equipment such as DNA sequencing microarrays and Magnetic Resonance Imaging (MRIs).
Key suggestions from the report:
- The market is anticipated to witness substantial growth during the forecast period, owing to the rising adoption in various industries, including healthcare, oil and gas, and aerospace and defense
- The vibration control segment accounted for the highest market share in 2019, owing to growing demand for automation in power plants and oil and gas industries
- The aerospace and defense industry is expected to register highest growth over the forecast period, owing to increasing stringent regulations by defense authorities and airlines authorities on system design
- In Europe, the market held the largest share in 2019, owing to the presence of large number of automobile manufacturers in the region
- Key players in the vibration control system market include ContiTech AG; Lord Corporation; Resistoflex (P) Ltd.; HUTCHINSON; Fabreeka; Sentek Dynamics Inc.; VICODA GmbH; Isolation Technology Inc.; Trelleborg AB; and Kinetics Noise Control, Inc. New product development and expansion remains the key strategy adopted by the leading manufacturers in the market.
Read 80 page research report with ToC on "Vibration Control System Market Size, Share & Trends Analysis Report By System Type, By Application (Automotive, Manufacturers, Healthcare, Aerospace & Defense, Oil & Gas), By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/vibration-control-systems-market
The technology is also extensively used in the aerospace and defense industry to decrease the vibrations causing damage to the aircraft windshield, windowpanes, doors, and shipments. Based on system type, the market is segmented into motion and vibration control systems. The demand for motion control systems in automotive, power plants, and oil and gas industry has increased over the last few years. Motion control systems isolate the effects of quiver and shock in power plants, thereby increasing the demand for such systems among these industries.
Besides, the electronics and electrical industry, including industrial goods, is witnessing a paradigm shift in terms of increasing usage of vibration control methods. Moreover, the technology is also used in the industrial goods industry for isolating vibrations on electronic instruments and measuring equipment. In Asia Pacific, the market is anticipated to witness significant growth owing to the presence of major manufacturers in China. The low cost of capital and availability of cheap labor and material in the region is expected to drive the market in the region by 2027.
In North America, the vibration control system market is anticipated to witness considerable growth attributed to rising demand from aviation, healthcare, and defense sector in U.S. and Canada. U.S. is expected to dominate the market in North America owing to increasing use of the technology in automotive, electrical and electronics, and food manufacturing sectors.
The market is fragmented in nature owing to the presence of several key manufacturers. However, the prominent electric two-wheeler manufacturers usually undergo strategic agreements with their suppliers to bridge the demand and supply gap of the industry. Some of the significant manufacturers in the market are NTN Corporation; Robert Bosch GmbH; QS Motors; and Schaeffler Technologies AG & Co. KG.
Grand View Research has segmented the global vibration control system market based on systems type, application, and region:
- Vibration Control Systems Type Outlook (Revenue, USD Million, 2016 - 2027)
- Motion Control
- Washers & Bushes
- Vibration Control
- Isolating Pads
- Vibration Control Systems Application Outlook (Revenue, USD Million, 2016 - 2027)
- Aerospace & Defense
- Electrical & Electronics
- Oil & Gas
- Vibration Control Systems Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Find more research reports on Electronic Devices Industry, by Grand View Research:
- Arbitrary Waveform Generator Market – The global arbitrary waveform generator market size was valued at USD 304.7 million in 2018 and is expected to register a CAGR of more than 9% over the forecast period.
- Surface Vision And Inspection Market – The surface vision and inspection market size was valued at USD 7.36 billion in 2014 and is expected to witness a strong growth owing to rapid technological advancements over the next seven years.
- Power Electronics Market – The global power electronics market size was valued at USD 32.33 billion in 2016. The increasing demand for energy-efficient and battery-powered devices is likely to propel the global market over the forecast period.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Email: [email protected]
SOURCE Grand View Research, Inc.