PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419077
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419077
Vibration Control System Market size was valued at USD 4,910.0 Million in 2022, expanding at a CAGR of 6.3% from 2023 to 2030.
Vibration control systems lessen friction and other disruptive elements by regulating vibrations in both moving and stationary machinery. These systems also protect against heat generation, wear and tear, energy loss, cracking and breaking, and other issues related to machine parts.
The growing emphasis on mechanical balancing and stability in automobiles and industrial machinery is driving up demand for the product globally. Isolation systems called Vibration Control Systems (VCS) efficiently handle incoming vibrations. Over the course of the projected period, the rapidly expanding automotive and aviation industries are anticipated to propel market expansion. One major reason propelling the market expansion is the speed at which next-generation vibration control systems for aircraft are being developed to reduce vibration. Additionally, mounting and bushing anti-vibration devices lessen quivers in the automotive sector. These solutions extend the life of the componentry and improve vehicle efficiency.
Additionally, vibration monitoring systems are becoming more and more popular in the healthcare industry. Pharmaceutical companies are using them to lessen the effects of tremors and quivers on delicate equipment in healthcare and scientific institutions, like magnetic resonance imaging (MRIs) and DNA sequencing microarrays. However, during the next few years, it is projected that factors including stringent industry restrictions, expensive system prices, and problems with component reliability will impede market growth.
The Global Vibration Control System Market is segmented on the basis of Component, System Type, End-User, and Region.
The market is divided into three categories based on Component: hardware, software, and services. The hardware segment dominates the market. The high demand for electronics components like sensor, capacitors, control motors are boosting segment growth.
The market is divided into two categories based on System Type: vibration control, and motion control. The vibration control segment dominates the market and is likely to maintain its dominance during the forecast period. The high demand for vibrational control system owing to its better efficiency under difficult situation is boosting the market growth.
The market is divided into seven categories based on End-User: automotive, manufacturing, aerospace & defense, electrical & electronics, healthcare, oil & gas, and others. The manufacturing segment dominates the market and is likely to maintain its dominance during the forecast period. Increased demand for control systems in industrial machinery is boosting the market demand.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The vibration control system market is less fragmented in nature. Companies are putting more and more effort into R&D initiatives to new product developments. Thus, manufacturers are investing in new product development to better meet consumer needs because of fierce competition. To remain competent in the industry, the corporations are also working to develop high-quality, high-value products at an optimal cost through comprehensive strategies, R&D activities and ongoing innovation.
In March 2022, ITT Inc. exhibited a broad range of highly developed shock isolation, vibration control, and energy absorption systems for military and defense applications.
The scope of this report covers the market by its major segments, which include as follows: