Market Introduction
The APAC active noise and vibration control system market is showcasing an upward trend over the past couple of years and is anticipated to reflect a similar trend during the forecast period. Several initiatives are taken by the governments of the Asian countries to bolster the railway sector in the region. Several railway projects are going on in the region, which demand active noise and vibrations control systems to integrate into the rails. For instance, Indian Railways is considered to be the fourth-largest network in the world and is robustly seeking huge investments from private firms to operate passenger trains. The Ministry of Railways announced its plan to run passenger trains across 109 origin-destination routes through 151 trains, and for this, the government has asked private companies to submit their layout plans. The project is anticipated to have an investment of about US$ 4 billion. Thus, creating a massive opportunity for active noise and vibration control system providers to develop and offer efficient products and solution to the Indian railway.
Market Overview and Dynamics
The active noise and vibration control system market in APAC was valued at US$ 798.5 million in 2019 and is projected to reach US$ 1,473.5 million by 2027; it is expected to grow at a CAGR of 8.6% from 2020 to 2027. Boeing Co. and Airbus are among the well-known aircraft manufacturers that are strongly investing in Southeast Asian countries such as Malaysia, Thailand, and Singapore to set their manufacturing sites, further building huge opportunities for the aerospace components sales. All these factors are projected to boost the growth of the active noise and vibration control system market in the region.
Key Market Segments
The active noise and vibration control system market has been segmented based on type, system, application, and country. Based on type, the market has been fragmented into vibration and noise. The vibrations segment represented the largest share of the overall market throughout the forecast period and is expected to be the fastest-growing. Based on the system, the active noise and vibration control system market has been segmented into sensors, actuators, controllers, and dampers. In 2019, actuators contributed a substantial share in the APAC active noise and vibration control system market, followed by sensors, respectively. The active noise and vibration control system market is further segmented on the basis of application into aerospace, defense, railway, and general application. During the forecast period, the growing demand from commercial aircraft manufacturers is expected to drive the market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the active noise and vibration control system market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Fabreeka International, Inc., FAURECIA CREO AB, Honeywell International Inc., Hutchinson, Moog Inc., Parker Hannifin Corporation, Supashock Advanced Technologies, Terma A/S, and Trelleborg AB.
Reasons to buy report
APAC ACTIVE NOISE AND VIBRATION CONTROL SYSTEM MARKET SEGMENTATION
APAC Active Noise and Vibration Control System Market– By Type
APAC Active Noise and Vibration Control System Market – By System
APAC Active Noise and Vibration Control System Market – By Application
APAC Active Noise and Vibration Control System Market – By Country
Company Profiles