The global vibration control systems market size is expected to reach a market valuation of US$ 4.94 Billion by the year 2022, accelerating with a moderate CAGR of 6.2% by 2022-2032. The Vibration Control Systems market size is anticipated to be valued at about US$ 9.01 Billion by 2032 end.
Oil and gas, utilities, transportation, and other fast-growing industries have raised demand for vibration control systems. Manufacturers have developed isolating pads, absorbers, and dampers to meet market demand. Rising per capita power costs, greater government spending on important end-use industries, and others have fuelled sales of vibration control systems.
The vibration controllers market’s expansion is being pushed by growing concerns about the safety and security of mechanical structures, the growing use of active vibration control systems from various industrial verticals, and the growing automotive and aviation industries around the world.
Request A Sample PDF: https://www.futuremarketinsights.com/reports/sample/rep-gb-4595
Increased demand for vibration control systems such isolators, hangers, and mounts allow manufacturers to diversify their product lines. The rise of important end-use sectors also helps manufacturers generate revenue.
Businesses may gain from cloud computing as its use grows. Cloud computing has offered firms global expansion agility. Today’s networks can manage complex data, enabling interdependent systems.
Online computers, tablets, and smartphones can access maintenance records. External analysts can access this information without costly new infrastructure. Cloud computing saves organisations money and gives them easy access and control over their data. Information can be modified in many ways, and safe storage and networking options abound. With safe cloud computing platforms that prioritise cybersecurity, the demand for vibration control systems g is expected to rise.
While demand for vibration control systems from key end-use sectors is rising, manufacturers are concentrating on reducing installation, maintenance, and replacement costs. Lack of information and competence also hinders its implementation.
High demand from oil & gas, utilities, mining & quarrying, and key players’ efforts to offer innovative cost-effective products surpass these limited restraints.
Talk with our expert: https://www.futuremarketinsights.com/ask-question/rep-gb-4595
Key Takeaways
- The vibration control systems market is predicted to show substantial growth during the forecast period, owing to the increased utilisation in several industries, including healthcare, oil & gas, and aerospace & defence, among others.
- The vibration control category stood for the biggest revenue share in 2021, owing to the increased need for automation controls in power plants and oil & gas industries.
- Since more and more industrial machinery is being produced all over the world, the manufacturing sector is projected to expand at the fastest rate over the forecast period.
- Europe held the greatest revenue share in 2021, owing to the existence of a significant number of vehicles manufacturers in the region.
Competitive Landscape
Vibration control system companies focus on R&D to improve market presence. Key players in the market include HUTCHINSON, DynaTronic Corporation Ltd., Cooper Standard, GERB, Technical Manufacturing Corporation, LORD Corporation, Trelleborg AB, Farat Ltd, Bridgestone Corporation, FUKOKU CO., LTD, VICODA GmbH, MUPRO Services GmbH, Kinetics Noise Control, Inc., and Dynamic Solutions Systems, Inc.
- In March of 2020, SKF introduced a small, low-cost vibration and temperature sensor to track the health of rotating components in large-scale industrial machinery. The SKF Enlight Collect IMx-1 sensor is primarily used as part of an SKF Rotating Equipment Performance solution, and it helps customers save money by reducing unscheduled downtime and maintenance expenses.
- In April of 2020, SKF and connectivity expert LumenRadio worked together to develop a wireless monitoring system for detecting and reporting on vibration and temperature. Combining SKF’s expertise in machine health monitoring with LumenRadio’s unique network technology, the “SKF Enlight Collect IMx-1 System” was developed.
- SKF’s Enlight ProCollect, a new system for manual vibration monitoring, was adopted by Norwegian shipowner Solvang in January 2021 as part of a collaborative effort to implement predictive maintenance across Solvang’s fleet of tankers.
Startup Ecosystem
As new innovations are coming along the vibration control systems market, two major start-ups in the industry are iNDTact and Ingu Solutions.
iNDTact
Condition vibration control service provider specialising on vibration sensors. It provides a broadband vibration & acoustic emission sensor for condition monitoring, non-destructive testing of materials, localization of defects with multiple sensors, and structural health monitoring in addition to an autonomous condition monitoring system based on vibration measurement for recording, digitalizing, data conditioning, and analysis of complex parameters. Its services let customers set up processes for predictive maintenance, process monitoring, and application control.
Ingu Solutions
Ingu Solutions is a Canadian firm that specialises in providing sensing and vibration control solutions and services for hard-to-reach places. The company’s golf ball sized “Wise Motes” smart sensors may be injected into pipelines, where they will travel with the flow and collect data on factors including velocity, temperature, magnetic field, and chemical composition, among others. The business also offers a system for decentralised tracking and evaluation. There are a variety of industrial and commercial uses for the sensors, including the water supply and distribution networks, the midstream oil and gas industry, and other areas.
