A vibration control system helps in reducing or modifying the vibration level of a mechanical structure. This system is specially designed to deliver safe operations in the event of network or power loss. The vibration control system is used in many industries, such as automotive, aircraft, solar batteries, robots, and rotors. The massive uptake of the vibration control system in various burgeoning industries defines the growing landscape of the market for the system.
According to Market Research Future (MRFR), the global vibration control system market will grow enormously by 2025, registering a phenomenal CAGR throughout the forecast period (2019 to 2025). The growing concerns about safety and security of mechanical structures and the increasing adoption of the active vibration control system in various industry verticals are some of the key driving factors for the growth of this market.
The growing demand for improving passenger comfort and convenience from the burgeoning growing automotive and aviation sector globally fosters the growth of the market. Furthermore, the rising demand for smart, adaptive and self-controlling vibration control system and technological advancements in the systems, such as ANVC systems in aircraft, advanced component technology, web-based continuous machine condition monitoring are providing more opportunities for the expansion of this market.
On the other hand, stringent industry regulations, component reliability issues, and the high cost associated with the development of the vibration control system, these are few of the factors acting as a barrier for new entrants.
Also, the shift from traditional manufacturing to smart manufacturing requires high investment; whereas, due to low-profit margin, SMEs sometimes can’t arrange funds. These limited reinvestment opportunities are factors restraining market growth. Alternatively, industrial revolution 4.0 would create opportunities in the market.
Global Vibration Control System Market – Segmentation
The report is segmented into four key market dynamics to widen the scope of understanding,
By System Type : Automation Control, Vibration Control, and Motion Control, among others.
By Component : Hardware and Software.
By Industry Vertical: Automotive, Aerospace & Defense, Electronics, and Healthcare, among others.
By Regions : Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Vibration Control System Market – Regional Analysis
The Asia Pacific region holds a substantial share in the global vibration control system market. Increasing government schemes and subsidiary programs to promote the use of vibration control system drives the market across the region. The presence of key manufacturers and operating units multinational players in this region alongside, the availability of sophisticated technologies enable the regional market to flourish. Due to the rapid industrialization, primarily in China, Japan, and India, the APAC market for vibration control is likely to grow at the highest rate during the forecast period.
North America is another lucrative market for the vibration control system, which is projected to witness colossal growth over the review period. Growing sectors such as healthcare, aviation, and the defense, in the US and Canada, enable the regional market to create a significant revenue pocket. Moreover, huge technological advancements and their early uptake, alongside, the growing demand for safety features across the industries drive the growth of the regional market.
The vibration control system market in the Middle East & Africa is emerging as a prominent market due to the increased expenditures and expansion of international players. Also, South America is an emerging market witnessing a huge uptake of the advanced vibration control system at a rapid pace. Countries such as Brazil and Argentina contribute to the market growth, majorly owing to the government initiatives, that encourage the rapid development in the automotive, O&G, textile, and machinery & equipment industry.
Global Vibration Control System Market – Competitive Analysis
Highly competitive, the vibration control system market appears to be fragmented due to the presence of several well-established players. These players adopt strategies such as collaboration, acquisition, product & technology launch, and expansion to maintain their positions in the market. The players compete with each other based on innovation, pricing, and service. Expansion in the emerging market helps the players to extend their sales networks.
Players leading the vibration control system market include Dynatronic Corporation Ltd. (China), Hutchinson (France), Cooper Standard (US), Sentek Dynamics Inc. (US), Crystal Instruments (US), Lord Corporation (US), Technical Manufacturing Corp., (US), Spektra Schwingungstechnik Und Akustik GmbH Dresden (Germany), Müpro Services GmbH (Germany), and Gerb Vibration Control Systems, Inc., (US), among others.