## Automotive Vibration Control System Market Gears Up for Strong Growth: Fact.MR Report
The global automotive vibration control system market is set to experience a robust expansion, reaching a valuation of US$ 271.59 billion by 2034. This growth trajectory is fueled by a confluence of factors, including the growing popularity of luxury vehicles, technological advancements in the automotive sector, and the increasing emphasis on passenger comfort and safety.
According to a new report by Fact.MR, a leading market research and competitive intelligence provider, the market is expected to expand at a healthy CAGR of 3.6% over the forecast period. This upward trend is driven by dynamic shifts in consumer preferences, influenced by economic, demographic, and social factors, all intertwined with the rapid evolution of automotive technology.
Luxury Vehicle Demand Drives Market Growth
The surging demand for luxurious vehicles, driven by rising disposable income and global per capita GDP, plays a pivotal role in the automotive vibration control system market. The recovery from the COVID-19 pandemic has seen a swift rebound in demand for high-end automobiles, reaching pre-pandemic levels. Luxury vehicles account for approximately 13% of global car sales and are projected to capture a larger market share, reaching 16-18% over the next decade. This robust demand for luxury vehicles translates into a parallel surge in the demand for vibration control systems, as these vehicles prioritize enhanced comfort and ride quality.
Key Market Highlights
* The global automotive vibration control system market is expected to be dominated by body & chassis components, accounting for a 70% market share by 2034.
* North America is predicted to be a significant contributor to market growth, with projected utilization exceeding 2,154.6 Mn units of automotive vibration control systems by the end of 2034.
* Commercial vehicles are estimated to account for 3% of revenue share in the global market, generating an absolute $ opportunity of US$ 40.4 Bn over the forecast period.
* The OEM sales channel is projected to see a 1.5X growth in value, while the aftermarket segment is expected to expand by 1.3X during the forecast period.
* The European region is forecast to register a CAGR of 3% over the forecast period and be valued at US$ 60.7 Bn by 2034.
Passenger Vehicles Remain a Focus
Passenger vehicles are expected to remain the most attractive segment within the automotive vibration control system market, attracting significant investment from manufacturers throughout the forecast period.
Leading Players Shaping the Industry
Key players in the automotive vibration control system market are actively driving innovation, including:
* Continental AG
* Parker Hannifin Corp.
* Bridgestone Corporation
* ZF Friedrichshafen
* Trelleborg AB
* HUTCHINSON
* DynaTronic Corporation Ltd.
* Cooper Standard
* GERB
* Technical Manufacturing Corporation
* LORD Corporation
* Farat Ltd.
* Fukoku Co., Ltd.
* VICODA GmbH
* MUPRO Services GmbH
* Kinetics Noise Control, Inc.
Growth Strategies for Success
East Asia is poised to become the most prominent region from a demand perspective. Expanding capital investments and robust supply chain networks in the region present significant opportunities for manufacturers. Market players can leverage inorganic growth strategies, such as mergers, partnerships, and collaborations, to expand their presence in East Asia and cultivate a strong consumer base, ultimately driving cash flow generation.
Innovation in Action
In January 2021, Norwegian ship owner Solvang implemented SKF’s Enlight ProCollect, a manual vibration monitoring system, as part of a joint venture to execute predictive maintenance across its tanker fleet. This real-world example underscores the growing importance of vibration control systems across various industries, further highlighting the potential for innovation in the automotive sector.
Fact.MR: Delivering Market Insights
Fact.MR’s comprehensive report provides an unbiased analysis of the global automotive vibration control system market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2024-2034. The report delves into critical market insights based on type, region, vehicle category, and sales channel, offering valuable data and strategic recommendations for businesses operating within this dynamic industry.
