The vibration system market has grown strongly, expanding from $3.93 billion in 2023 to $4.21 billion in 2024, with a compound annual growth rate (CAGR) of 7.0%. This growth is driven by regulatory requirements, the expansion of the automotive industry, a focus on safety, rising consumer demand, industrial automation, and increasing demand for precision engineering. The market is expected to continue its strong growth, reaching $5.61 billion by 2028 at a CAGR of 7.5%. This anticipated growth is attributed to the rising electrification of vehicles, the adoption of smart manufacturing, the growing use of autonomous vehicles, increasing vehicle efficiency, and a higher adoption of cloud-based technologies. Major trends in the forecast period include technological advancements, improvements in sensor technology, the adoption of artificial intelligence (AI), increased investment in research and development (R&D), the advent of the industrial internet of things (IoT), and the development of smart materials with a focus on lightweight components.
Global Vibration System Market Key Driver
The growing automotive industry is expected to propel the growth of the vibration system market. The automotive industry involves manufacturing, sales, and maintenance of motor vehicles, including cars, trucks, and motorcycles. Factors such as economic growth, environmental benefits, consumer benefits, global competitiveness, and infrastructure development contribute to the industry's expansion. Vibration systems are used to test and optimize vehicle components for durability, performance, and safety by simulating real-world vibrational conditions. For example, the International Trade Administration reported that the total value of Canadian automotive local production in 2022 was 64,565, compared to 54,892 in 2021. Thus, the growing automotive industry will drive the vibration system market, which was valued at $2.11 billion in 2023 and is projected to grow to $2.26 billion in 2024 at a CAGR of 7.0%, reaching $2.97 billion in 2028 at a CAGR of 7.1%.
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Global Vibration System Market Segments
The vibration system market covered in this report is segmented –
1) By System Type: Embedded Systems, Vibration Analyzers, Vibration Meters
2) By Component: Hardware, Software, Services
3) By Monitoring Process: Online, Portable
4) By Deployment Type: On-Premises, Cloud
5) By Industry: Oil And Gas, Energy And Power, Metals And Mining, Chemicals, Automotive, Aerospace And Defense, Food And Beverages, Marine, Pulp And Paper, Other Industries
By Geography:The regions covered in the vibration system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
Major Vibration System Industry Players
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
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Vibration System Market Overview
A vibration system refers to a mechanical system or device designed to generate, measure, or respond to vibrations. These systems are used across various fields for purposes such as testing, diagnostics, and improving the performance and longevity of mechanical and structural components. Vibration systems play a crucial role in ensuring mechanical and structural systems' reliability, safety, and performance by providing essential insights into their dynamic behavior.
Vibration System Global Market Report 2023 provides data on the global vibration system market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The vibration system market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
