The market for automotive vibration absorbers is driven by a number of reasons. Two significant drivers are the automotive industry's ongoing evolution and the demand for luxurious but reasonably priced transportation. Additionally, automakers are seeking to increase fuel efficiency without compromising performance or comfort as more strict pollution rules are implemented globally. By reducing engine vibration, vibration absorbers can increase fuel efficiency. The rising popularity of luxury and premium vehicles, many of which include vibration-damping technologies as standard equipment, is another driver propelling the industry. In addition, as electric motors produce very little vibration, the industry is anticipated to benefit from the expanding popularity of electric vehicles.
The automotive vibration absorber market is necessary since it aids in reducing the vibration brought on by various types of automobiles. Both the quality of life and the safety of the passengers are enhanced by this. Additionally, it aids in enhancing the vehicle's performance and enhancing its fuel efficiency. Additionally, it aids in lowering the noise that the vehicle makes.
A tool that aids in lowering noise and vibration in vehicles is known as an automotive vibration absorber. It is installed between the engine and the vehicle's body and is often constructed of rubber or aluminium. To lessen the number of vibrations and bumps that car passengers experience, automotive vibration absorbers are utilised. The engine mount, which helps prevent the engine from shaking the car body, is the most typical type of vibration absorber used in automobiles. In order to lessen the amount of vibration that is transmitted to the passengers, it is also possible to incorporate vibration-damping components in the suspension system.
In 2021, the market for automotive vibration was worth USD 2.8 billion, and it is anticipated to grow to USD 4.2 billion by 2031, at a CAGR of 4.7% during the forecast period.
Due to the rising demand for cars with cutting-edge features like automatic transmission, adjustable suspension, and four-wheel drive, the automotive vibration absorber industry has been expanding rapidly over the past several years. In addition, due to these regions' rising vehicle production, the automotive vibration absorber market is predicted to expand quickly in Asia-Pacific as well as Latin America.
The global automotive vibration absorber market is now dealing with a few difficulties. First, there is a downturn in the market for automobiles on a global scale, which has caused manufacturing to fall and, as a result, the demand for automotive vibration absorbers. Second, margins have been under pressure due to recent sharp increases in the cost of raw materials (steel and rubber). Last but not least, there is fierce rivalry from aftermarket manufacturers that provide products at reduced prices. In addition, there are many small and medium-sized manufacturers, which further contributes to the fragmentation of the vehicle vibration absorber industry. Nonetheless, the industry is anticipated to expand in the upcoming years, nonetheless, as a result of rising car demand in developing nations and rising auto production everywhere.
Sumitomo Riko Company Limited, Sogefi SpA (Hutchinson SA), OMRON Corporation, Dana Holding Corporation, and Elasto Proxy Inc. are the leading companies in the vehicle vibration absorber market. Regarding technology and capacities, these major market companies hold a dominant position. They concentrate on diversification techniques including mergers and acquisitions, new product creation, and manufacturing services to broaden their market reach and improve their assortment.
The Brake Vibration Absorbers Segment emerged as the Most Lucrative Type
Brake, torsional, active, and hydraulic vibration absorbers are the four primary types of vibration absorbers used in the automotive industry. Among them, brake vibration absorbers retained the greatest proportion of the automotive vibration absorber market as a result of the ongoing manufacture of new automobiles and the vehicles' regular service. Additionally, this is anticipated to fuel the demand for automobile brake vibration absorbers during the course of the forecast period, propelling market expansion.
The Most Prominent Application is the Passenger Vehicles Segment
The market is divided into commercial and passenger automobiles based on their intended application. Passenger automobiles make up the largest sector among them, accounting for more than 70% of all automobile production worldwide. Additionally, because of the high criteria for passenger safety and their demand for lightweight and fuel-efficient vehicles, the usage of premium alloys has grown in this market.
The North American Region to render Ample Financing Opportunities
North America, South America, Asia Pacific, Europe, the Middle East, and Africa are the regions into which the global market for maritime simulation and training systems is divided. During the Forecast period, the market for maritime simulation and training systems is expected to be dominated by the North American region. The adoption of laws to enhance maritime security and safety is another aspect of the development of this region.
COVID-19 Impact and Market Status
In the following ten years, it is anticipated that the market for vehicle vibration absorbers would expand dramatically. With a drop in production and sales in 2020, the COVID-19 epidemic has had a detrimental effect on the market. Meanwhile, a recovery and steady growth are anticipated for the market in 2021 and the years after. Additionally, the industry's attempts to promote its brand are anticipated to benefit from the rise in innovation and ened market competitiveness, which will result in higher sales in the years to come.
Recent Developments in the Automotive Vibration Absorber Market
• The development of cooperation between GEVDES and TateOSS occurred in January 2019. This collaboration sought to offer a flexible option for selectively bringing HD camera cars.
• Magna International Inc. stated in August 2019 that it would collaborate with a Chinese manufacturer to produce electric vehicles in India (Great Wall Motors).
• ChargePoint, a charging network provider, was acquired by Magna International Inc. for $265 million in April 2020. In order to minimise tailpipe emissions and combat climate change, Manfred Eigen, chairman and chief executive officer of Magna International Inc., argued that electrification of transportation was essential.
• Through the application of cutting-edge technology and sophisticated engineering, Magna International Inc. unveiled a completely reimagined, industry-first, holistic approach to cabin filtering systems in March 2021. The vehicle's cabin will be effectively cleaned and circulated with the aid of this technology, giving passengers peace of mind while driving.
Automotive Vibration Absorber Market Scope
|Revenue forecast in 2031
|USD 4.2 billion
|CAGR of 4.7% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Sumitomo Riko Company Limited, Sogefi SpA (Hutchinson SA), OMRON Corporation, Dana Holding Corporation, and Elasto Proxy Inc. are the leading companies in the vehicle vibration absorber market
Key Segments of the Automotive Vibration Absorber Market
Type Overview, 2021-2031 (USD Billion)
• Brake Vibration Absorbers
• Torsional Vibration Absorbers
• Active Absorbers
• Hydraulic Absorbers
Application Overview, 2021-2031 (USD Billion)
• Passenger Cars
• Commercial Vehicles
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa