July 15, 2022 14:30 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, July 15, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, sales of automotive vibration absorbers are projected to rise at a CAGR of 3.5% from 2022 to 2032. As suspension systems play a vital role in maintaining the safety and comfort of vehicle users and other participants on the road, automotive vibration absorbers, an integral part of suspension systems, are highly sought after in the automotive vibration control system industry.
The market is expected to witness an increase in demand at a global level owing to the growing emphasis on the mechanical stability and balancing of industrial machinery and automobiles. Vibration Control Systems (VCS) is an isolation system that vigorously responds to incoming vibrations. These systems are used to control vibrations in static or moving machines and help to reduce friction and other disruptions.
Innovative torsional vibration absorbers with a basic design and affordable manufacturing are majorly driving market expansion. Torsional vibration absorber technology is anticipated to develop with the rising hybridization and electrification of vehicles over the coming years.
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Key Takeaways from Market Study
The growth is attributed to the growing demand for healthcare, aviation, and defense anti-vibration systems in the U.S. and Canada. In the current market scenario, the U.S. dominates the regional market.
Large-scale adoption of these mechanisms can be seen in the U.S. electronics & electrical, automotive, and food manufacturing sectors. Being early adopters of vibration control technology, North America is home to a large number of vibration controlling manufacturers and solution providers.
Increasing population and growing disposable income is another factor that is boosting the sales of high-end cars, ultimately fueling the growth of the automotive vibration absorbers/dampers market.
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“New Entrants Resorting to Advanced Manufacturing Techniques for Product Enhancement”
New companies are modernizing and expanding their product technology and manufacturing techniques as well as introducing new items to preserve their place in the competitive worldwide market.
Key Segments in Automotive Vibration Absorber Industry Research
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Fact.MR, in its new offering, presents an unbiased analysis of the global Automotive Vibration Absorber Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by Product (Brake, Internal Tube, Torsional, Active Absorbers, Steering Wheel Absorbers, Backrest Vibration Absorbers, Hydraulic Absorbers) By Vehicle Type, By Sales Channel & Region – Global Market Insights 2022 to 2032.
Fact.MR’s Domain Knowledge in Industrial Goods
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial goods division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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