Portland, OR, March 03, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global noise mitigation system market generated $36.9 million in 2021, and is estimated to reach $57.7 million by 2031, witnessing a CAGR of 4.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $36.9 Million |
| Market Size in 2031 | $57.7 Million |
| CAGR | 4.7% |
| No. of Pages in Report | 281 |
| Segments Covered | Product Type, Application and Region |
| Drivers | The growing demand for low-noise products from various industries such as construction, transportation, healthcare and manufacturing |
| Stringent noise pollution regulations established by organizations such as the World Health Organization (WHO) to protect public health | |
| The need for energy efficient and sustainable solutions | |
| Opportunities | The integration of soundproofing and noise-cancelling technology into vehicles |
| The need for noise reduction in urban areas and the increasing awareness about the harmful effects of noise pollution | |
| Restraints | The high-power consumption associated with noise mitigation systems |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the noise mitigation system market, as the demand for noise control systems declined during the Covid-19 crisis.
- Sales in the market came down, leading to potential losses for global manufacturers.
- However, with the situation improving in 2021 due to the government's robust measures, leading manufacturers attempted to make up for their losses by diversifying their products and introducing new innovations.
The report offers a detailed segmentation of the global noise mitigation system market based on product type, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on product type, the acoustic tiles segment held the largest share in 2021, accounting for more than one-fourth of the global noise mitigation system market and would dominate the market in terms of revenue through 2031. The same segment is estimated to witness the fastest CAGR of 6.18% during the forecast period. The report also discusses the acoustic surface, sound barrier walls, baffles, and others segments.
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In terms of application, the industrial segment captured the largest market share of nearly half of the global noise mitigation system market in 2021 and is expected to lead the trail during the forecast period. Moreover, the same segment is likely to achieve the fastest CAGR of 5.15% through 2031. The report also studies the residential and commercial segments.
Based on region, the market in North America was the largest in 2021, accounting for one-third of the global noise mitigation system market and is likely to maintain its dominance during the forecast period. However, the market in LAMEA is expected to manifest the highest CAGR of 5.35% from 2022 to 2031. The other regions analyzed in the study include Asia-Pacific and Europe.
Leading players of the global noise mitigation system market analyzed in the research include Kinetics Noise Control, Inc., McGill AirSilence LLC, USG Corporation, Noise Barriers, Yamaha Corporation, Knauf Gips KG, Quietstone UK Ltd., Acoustical Surfaces, Inc., SysTech Design, Inc., and Armstrong World Industries, Inc.
The report analyzes these key players of the global noise mitigation system market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Key Benefits for Stakeholders
- This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall Noise Mitigation System market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global Noise Mitigation System market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the Noise Mitigation System market.
- The report includes the market share of key vendors and global Noise Mitigation System market trends.
Noise Mitigation System Market Key Segments:
Product Type
- Acoustic Tiles
- Acoustic Surface
- Sound Barrier Walls
- Baffles
- Others
Application
- Residential
- Industrial
- Commercial
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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