Automotive Vibration Control System Market

Automotive Vibration Control System Market Outlook (2022-2032)

The global automotive vibration control system market is estimated at US$ 165.1 Bn in 2022, and is forecast to reach a market valuation of US$ 262.8 Bn by 2032, expanding at a CAGR of 4.8% from 2022 to 2032.

Report Attributes	Details
Automotive Vibration Control System Market Size (2021A)	US$ 160.9 Bn
Estimated Year Value (2022E)	US$ 165.1 Bn
Projected Year Value (2032F)	US$ 262.8 Bn
Global Market Growth Rate (2022-2032)	4.8% CAGR
East Asia Market Share (2021)	~42%
Top 5 Companies’ Market Share (2021)	~36%
Key Companies Profiled	Continental AG Parker Hannifin Corp Bridgestone Corporation ZF Friedrichshafen Trelleborg AB

Worldwide sales of automotive vibration control systems accounted for 1-2% share of the global automotive equipment market in 2021. Increasing application of automotive vibration control systems in vehicles is anticipated to provide lucrative avenue for manufacturers to enhance their production volumes in the near future.

Due to this market scenario, the global market for automotive vibration control equipment is projected to generate an absolute $ opportunity of US$ 102 Bn over the period of forecast of 2022-2032.

Sales Analysis of Automotive Vibration Control Systems (2017-2021) Vs Market Outlook (2022-2032)

The global automotive vibration control system market registered growth around -3% during the historical period (2017-2021). This declined curve in demand was experienced mainly due to the COVID-19 pandemic. It hampered the overall performance of the market during the past half-decade. A decline of -14.7% was registered in 2020, which drastically affected the demand-supply equilibrium of the market.

However, Fact.MR’s automotive team has analyzed the demand trend, regional clusters, key macro and micro factors, and end-use industry behavior towards automotive vibration control systems. The weighted average of all these prominent factors draws a growth line of 4.8% CAGR for the assessment period.

Growing demand for automotive vibration control systems in end-use verticals is poised to provide a market valuation of US$ 262.8 Bn by 2032.

Mining, construction, and agricultural vehicles are potential end-use sectors for vibration control equipment. The global construction industry is lucrative and expected to surpass a market value of US$ 15.5 trillion by the end of 2030. The U.S., China, and India are likely to lead the way and account for more than 57% share of the global construction industry.

The mining sector has also witnessed rapid surge. Similarly, the agriculture industry has a substantial global GDP contribution of around 20%, and is set to remain on the same trajectory over the decade. These end-use industries immensely rely on industrial vehicles, which will subsequently drive demand for vibration control units.

China and Germany are expected to drive demand for industrial vibration control systems and be prominent pillars for market development in the near future. The East Asia market is likely to portray 4% CAGR, whereas, the European regional market is estimated to exhibit 5.3% CAGR through 2032.

Overall, the worldwide automotive vibration control system market is expected to expand 1.6X over the assessment period mainly due to the growing vehicle fleet across the world.

How is Demand Growth of Automotive Vibration Control Units Being Driven?

“Growing Global Vehicle Fleet Expected to Elevate Demand from Aftermarket”

It has been observed that the global vehicle fleet registered notable growth over the past decade. In 2010, roughly 1 Bn registered motor vehicles were on the roads worldwide, which increased to around 1.43 Bn in 2021 at a CAGR of 3.6%.

After analyzing multiple several elements, including the macroeconomic and microeconomic factors, it has been estimated that the global automobile fleet will illustrate a growth rate of around 4.8% through 2032.

Demand from developing economies is expected to soar due to substantial increase in the purchasing power of customers. The Asia Pacific market is expected to expand at a notable rate and is likely to be the epicenter for manufacturing facilities.

Owing to the aforementioned factors, demand for automotive vibration control devices is expected to encounter a boost over the coming years.

What are the Key Limiting Factors for Market Growth in the Near Future?

“Semiconductor Shortage & Rising Raw Material Prices Hurting Market Expansion”

The recent semiconductor shortage has had an unprecedented impact on the market. The semiconductor crisis has severely disrupted the equilibrium of the automobile industry, hindering the supply chain.

Semiconductors are a crucial element in electronic applications in vehicles. Shortage of semiconductor products may restrict the production of automobile companies, which will have an impact on the sales of automotive vibration control systems as well.

Chip shortage will affect the profitability of OEMs owing to disruptions in production and premium procurement of semiconductors. Due to reduced profit margins, companies may cut down on the production of vehicles.

Additionally, raw material prices rose after remaining average throughout the first quarter of 2020, with the full impact of cumulative increases being felt in the third and fourth quarters of the fiscal year 2020. The average raw material price index of the automobile industry was 12% lower Y-o-Y during April-July 2020 owing to stumped demand from the automobile industry.

Steel, copper, and aluminum have shown a drastic surge in prices by 30%, 40% and 77%, respectively. Prices of other raw materials have also witnessed a similar impact.

The trend has continued over this fiscal year as well, which is anticipated to have a cascading effect on the pricing of automotive vibration control systems.

Which Regional Market is Set to Showcase Exceptional Demand Growth for Automotive Vibration Control Systems?

“East Asia Largest Market, Followed by Europe”

The inclusive analysis of the global automotive vibration control system market includes six prominent regions to provide a detailed study of the global market - North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa. On the basis of end use concentration and demand outlook, East Asia is evaluated to corner the largest chunk of the market share, followed by Europe.

According to the Fact.MR research, East Asia currently accounts for more than 1/3 of the global market and is slated to reach a valuation of US$ 67.5 Bn. The North America market is projected to create an absolute $ opportunity of US$ 33.7 Bn over the assessment period.

In addition, North America and East Asia are likely to exhibit high growth rates owing to a surge in manufacturing facilities. On the other hand, Latin America and MEA are expected to witness sluggish growth and account for minimal market shares due to a barren end-use industry scenario.

Country-wise Insights

Why is China in the Spotlight for Automotive Vibration Control System Manufacturers?

Growth in the vehicle fleet in China is anticipated to open new doors for automotive vibration control system manufacturers. Additionally, the government is highly focused on the manufacturing sector, and this would directly provide a benefit to automotive industry.

According to Fact.MR, China is likely to account for more than 2,754.3 Mn units of automotive vibration control systems by the end of 2032.

Additionally, the China market is projected to create a valuation of US$ 74 Bn by 2032 and create an absolute $ opportunity of US$ 20.2 Bn over the assessment period

Why is Germany Leading the European Market for Automotive Vibration Control Systems?

Europe is predicted to reach new heights in the automotive industry, resulting in splendid growth and a higher share of the automotive vibration control system market.

Germany is estimated to lead the European market by accounting for approximately 20% market share in 2022. In addition, the Germany automotive vibration control system market is projected to reach a valuation of US$ 12.8 Bn by the end of 2032, expanding at a significant CAGR of 6.1% over the decade.

Category-wise Insights

Which Vehicle Type is Expected to Drive Most Demand for Automotive Vibration Control Devices?

The passenger vehicles segment held more than 50% market share in 2021 and is expected to progress at a growth rate of around 5.5% during the forecast period.

Growing demand for efficient vibration control units for improving passenger experience and vehicle lifespan is poised to provide abundant opportunities for manufacturers. However, commercial vehicles are likely to account for nearly 39% market share and surpass a market value of US$ 24 Bn by the end of 2032.

Should Automotive Vibration Control System Suppliers Focus More on Any Sales Channel?

Prominent companies across the globe have mainly been concentrated in Europe and North America for the past two decades in global automotive vibration absorber market. Strong position and strong supply chain network of manufacturers is likely to aid the OEM sales channel.

As per Fact.MR, the OEM sales channel is estimated to reach a valuation of US$ 131.1 Bn by 2032 and account for more than 78% of demand over the same time frame. In addition, OEM sales of automotive vibration control systems are projected to surpass a market valuation of US$ 213 Bn by the end of 2032.

Competitive Landscape: Top Companies in Automotive Vibration Control System Market

Anand NVH Products, Bridgestone Corporation, ContiTech AG, Corteco (Freudenberg), Fibet Rubber Bonding (UK) Ltd, GMT Rubber-Metal-Technic Ltd, H.A. King Vibration Control , Hutchinson, Isolation Technology Inc, Kurashiki Kako Co., Ltd, Parker Hannifin Corp, Polymer Technologies, Inc, Resistoflex (P) Ltd, Roush Enterprises, Trelleborg AB, Trinity Auto Engineering (P) Ltd., Vibracoustic SE, Vibrasystems Inc, Vibromech Engineers & Services Ltd., ZF Friedrichshafen AG, and Zhongding Group are some of the prominent players in the global automotive vibration control system market.

Leading automotive vibration control system producers are expanding their manufacturing facilities across the globe and finding various opportunities in emerging economies.

Tier-1 automotive vibration control system manufacturers are expanding their operational bases, including R&D facilities, manufacturing plants, and distribution & sales channels, across multiple regions to capture a significant market share and tackle trade wars, minimize import-export expenses, and acquire cheap labor.

East Asia has the most efficient manufacturing facilities, but South Asia & Oceania is likely to become a hub for manufacturing over the coming years. Increasing geographical expansion of manufacturers will increase the reach of products to potential customers, which might aid in brisk market penetration.

Fact.MR has provided detailed information about the price points of top manufacturers of automotive vibration control system market positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Segments of Automotive Vibration Control System Industry Survey

• Automotive Vibration Control System Market by Type :

  • Engines & Powertrains
    •  Damper Pulleys
    •  Engine Mounts
    •  Center Bearing Support
    •  Differential Mounts
  •  Body & Chassis
    •  Suspension Bushing
    •  Air Springs
    •  Strut Mounts
    •  Dynamic Dampers
    •  Cab Mounts
    •  Frame & Sub Frame Mounts
  •  Exhaust Mounts
  •  Radiator Mounts
  •  Interiors
    •  Mounts
    •  Air Springs

• Automotive Vibration Control System Market by Vehicle Category :

  • Industrial Vehicles
    •  Construction Equipment
    •  Mining Equipment
    •  Material Handling Equipment
    •  Agriculture & Forestry Equipment
    •  Industrial Trucks
  •  Commercial Vehicles
    •  LCVs
    •  HCVs
    •  Buses & Coaches
  •  Rolling Stocks
    •  Locomotives
    •  Passenger
    •  Freight
  •  Passenger Vehicles

• Automotive Vibration Control System Market by Sales Channel :

  • OEM
    •  Aftermarket
    •  Online Sales
      •  Company-owned Websites
      •  E-Commerce Websites
  •  Offline
    •  Auto Part Stores
    •  Authorized Dealers
    • Others

• Automotive Vibration Control System Market by Region :

  • North America Automotive Vibration Control System Market
  • Latin America Automotive Vibration Control System Market
  • Europe Automotive Vibration Control System Market
  • East Asia Automotive Vibration Control System Market
  • South Asia & Oceania Automotive Vibration Control System Market
  • MEA Automotive Vibration Control System Market