VALLEY COTTAGE, New York, August 14, 2017 /PRNewswire/ --
Vibrations in any stationary or moving body can cause frictional disturbances leading to wear and tear, energy loss, cracks and even breakages. Thus, vibration control systems are paramount and Future Market Insights has prepared a comprehensive report on the global vibration controls systems market titled 'Vibration Control Systems Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)'. Our expert analysis indicates that the vibration control systems market is on track to grow at a CAGR of 3.9% from 2017 to 2027 and be worth over US$ 1,950 Mn in 2017, making it an extremely lucrative market for key stakeholders.
Mining and Transportation Key End Use Segments in the Global Vibration Control Systems Market
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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OEM Channel Much Larger than Aftermarket in the Global Vibration Control Systems Market
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.
Focus on Automation Control in the Vibration Control Systems Market
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.
North America the Largest Region in the Vibration Control Systems Market
North America is expected to contribute around 28% revenue share to the global vibration control systems market in 2017 and is followed in second place by APEJ at about 22% value share. The North America vibration control systems market will reach a market valuation in excess of US$ 800 Mn by the end of 2027 followed by APEJ at about US$ 666 Mn.
Preview Analysis on Global Vibration Control Systems Market Segmentation Function Type - Automation Control, Dampers, Motion Control, Hangers, Washers and Bushes, Mounts(Hydraulic, Pneumatic), Vibration Control, Couplings, Anti-Vibration Cylinders; End-User Industries - Mining, Quarrying, Oil and Gas, Extraction, Utilities, Transportation, Food Manufacturing, Beverage and Tobacco Product Manufacturing, Textile Mills, Petroleum and Coal Products Manufacturing, Chemical Manufacturing, Electrical Equipment Appliance: http://www.futuremarketinsights.com/reports/vibration-control-systems-market
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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SOURCE Future Market Insights