Vibration Control Systems are Key for Manufacturing Industries
Vibration control systems are the isolation systems that dynamically react to incoming vibrations. Vibration control systems are used to control vibrations in a stationery or moving body/machine, which cause friction and other disturbances. Vibration control systems ensure the proper functioning of machine parts, wear & tear, generation of heat, loss of energy, cracks & breakage, etc. and are used for various industrial applications.
The automation sub-segment is expected hold more than 40% market share of the overall vibration control systems market
In this report, FMI has segmented the global vibration control systems market on the basis of system, sales type, end use and region. By system, the vibration control systems market is sub-segmented into vibration controls, motion controls and automation controls. By sales type, the vibration control systems market is sub-segmented into O.E.M. and aftermarket. Based on end users, the vibration control systems market is sub-segmented into mining & quarrying, oil & gas, utilities, transportation, food manufacturing, beverages & tobacco, textile mills, petroleum & coal products manufacturing, chemical manufacturing, electrical equipment and machinery manufacturing. In terms of value, the automation controls sub-segment is projected to register more than 40% of the market share at the end of 2017 in the global vibration control systems market. Moreover, the increasing end-uses of vibration controls in various power plants and oil & gas industries and the increasing demand for vibration control systems that can withstand tough environments with better durability is on rise for fully automated manufacturing plants. These are among the major factors driving the vibration control systems market. In terms of volume, the motion control sub-segment is expected grow at a relatively higher CAGR as the demand for motion control systems is increasing for replacement and maintenance purposes in the global vibration control systems market.
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Aerospace & defence sector hold significant growth opportunities for the vendors of vibration control systems
Factors such as enhanced aircraft performance and the increasing demand for high-rise buildings in vibration control systems for fundamental safety and advanced automobile durability are creating potential growth opportunities for the vibration control systems market. Moreover, the development of next-generation vibration control systems for rockets and spacecrafts to reduce the vibration is also one of the major factors driving the vibration control systems market. In addition, the increasing adoption of vibration control systems by various small and local manufacturing industries is driving the demand for vibration control systems.
Based on end users, the oil & gas end user sub-segment is expected to register a decent CAGR of 5.1% in the global vibration control systems market over the forecast period due to the expansion of oil & gas industries and a rapid increase in oil & gas exploration activities. Furthermore, the mining & quarrying sub-segment is expected to capture the largest market share in the vibration control systems market owing to improvements in the techniques used in the mining and quarrying industry. In terms of value, the mining & quarrying sub-segment is expected to create an incremental opportunity of US$ 137.8 Mn during the forecast period in the vibration control systems market.
Government policies and regulations related to industrialization are going to play vital role in the growth of the vibration control systems market
Furthermore, the global vibration control systems market has been segmented into seven major regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). In terms of value, the APEJ vibration control system market is estimated to expand with a CAGR of 4.5% over the forecast period, which can be attributed to aggressive government schemes and subsidies to promote the usage of vibration control systems in the region as well as due to increasing industrialization, regulations and policies. The vibration control systems market in North America is projected to increase by 1.5X between 2017 and 2027 as rapid industrialisation and the installation of new industries, such as manufacturing and processing, are driving the demand for vibration control systems in the region.
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Some of the key market participants covered in the report include HUTCHINSON, DynaTronic Corporation, Cooper Standard, GERB, Technical Manufacturing Corp., LORD Corporation, Trelleborg AB, Farrat ltd, Bridgestone Corporation, FUKOKU CO., LTD and VICODA GmbH.