Vibration Control Systems Market to Attain CAGR of 3.9% Through 2027
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. 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.