Vibration System Market Report 2024

Where is the largest and fastest growing market for vibration system? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more. The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The vibration system market size has grown strongly in recent years. It will grow from $3.93 billion in 2023 to $4.21 billion in 2024 at a compound annual growth rate (CAGR) of 7%. The growth observed in the historical period can be attributed to regulatory requirements, growth in the automotive industry, increased focus on safety, rising consumer demand, industrial automation, and the growing demand for precision engineering.

The vibration system market size is expected to see strong growth in the next few years. It will grow to $5.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. Looking ahead, the forecasted growth can be attributed to several factors including the increasing electrification of vehicles, adoption of smart manufacturing practices, rising use of autonomous vehicles, improvements in vehicle efficiency, and the expanding adoption of cloud-based technologies. Key trends anticipated in the forecast period include technological advancements, innovations in sensor technology, widespread adoption of artificial intelligence (AI), heightened investment in research and development (R&D), the emergence of the industrial internet of things (IoT), advancements in smart materials, and a focus on developing lightweight components.

The expanding automotive industry is anticipated to drive the growth of the vibration system market. This industry encompasses the manufacturing, sales, and maintenance of motor vehicles, such as cars, trucks, and motorcycles. The automotive sector's growth is attributed to factors such as economic progress, environmental advantages, consumer benefits, global competitiveness, and infrastructure development. Vibration systems are employed in this sector to test and optimize vehicle components for durability, performance, and safety by replicating real-world vibrational conditions. For example, a report by the International Trade Administration, a US-based government agency, indicated that the total value of Canadian automotive production was 64,565 in 2022, up from 54,892 in 2021. Consequently, the rapidly growing automotive industry is fueling the vibration system market's expansion.

Leading companies in the vibration system market are concentrating on creating advanced solutions, such as wireless sensors, to improve real-time data analysis and predictive maintenance capabilities. A wireless sensor in vibration systems detects and measures vibrations, then transmits the data wirelessly to a monitoring system. These sensors are crucial for modern vibration analysis and monitoring, enabling real-time data collection and analysis without extensive wiring. For instance, in November 2023, Worldsensing SL, a Spain-based IoT company specializing in sensing solutions, introduced the Vibration Meter, a wireless sensor designed for long-term, continuous vibration monitoring projects. This new product includes a tri-axial MEMS accelerometer, providing extended battery life, a broader communication range, and a more competitive price compared to existing vibration technologies while complying with essential regulatory standards.

In November 2022, KULR Technology Group Inc., a US-based company specializing in next-generation carbon fiber thermal management technologies, acquired VibeTech for an undisclosed amount. This acquisition will allow KULR to enhance its capabilities as a vertically integrated energy management company focusing on renewable energy solutions. VibeTech Inc. is a US-based company specializing in AI-driven vibration reduction technology.

Major companies operating in the vibration system market are Honeywell International Inc., RION Co. Ltd., Emerson Electric Co., Rockwell Automation Inc., OMRON Corporation, Meggitt PLC, Fluke Corporation, National Instruments Corporation, MTS Systems Corporation, Kistler Group, Brüel & Kjær Sound & Vibration Measurement A/S, Thermotron Industries Inc., Dytran Instruments Inc., Noise & Vibration Technologies LLC, Metrix Instrument Co., Columbia Research Laboratories Inc., Vibration Research Corporation, IMV Corporation, Larson Davis, Dynamic Solutions Systems Inc., VibraSens.

Asia-Pacific was the largest region in the vibration system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vibration system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the vibration system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A vibration system is a mechanical system or device created to generate, measure, or respond to vibrations. These systems find application across diverse fields for purposes such as testing, diagnostics, and enhancing the performance and durability of mechanical and structural components. Vibration systems are crucial in ensuring the reliability, safety, and efficiency of mechanical and structural systems by providing critical insights into their dynamic behavior.

The primary types of vibration systems include embedded systems, vibration analyzers, and vibration meters. Embedded vibration systems are electronic systems or devices designed to monitor, measure, and manage vibrations. They are typically integrated into machinery, vehicles, structures, or consumer products to evaluate and address vibration-related data. These systems encompass hardware, software, and services for monitoring processes, available in both online and portable configurations, with deployment options ranging from on-premises to cloud solutions. They serve various industries such as oil and gas, energy and power, metals and mining, chemicals, automotive, aerospace and defense, food and beverages, marine, pulp and paper, among others.

The vibration system market research report is one of a series of new reports that provides vibration system market statistics, including the vibration system industry's global market size, regional shares, competitors with a vibration system market share, detailed vibration system market segments, market trends and opportunities, and any further data you may need to thrive in the vibration system industry. This vibration system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The vibration system market consists of revenues earned by entities by providing services such as vibration testing and analysis, condition monitoring, calibration services, custom vibration solutions, and installation and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The vibration system market also includes of sales of sensors, controllers, test systems, isolators, and balancing machines. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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