In-Depth Analysis of the COVID-19 Impact on Global Vibration Control Systems Market

 As the automotive industry has grown significantly over the past years, the demand for various type of vibration control systems such as automation control, motion control, vibration control, and others has increased substantially. With vibration control system manufacturers bringing in a flurry of products, Future Market Insights (FMI) expects outlook to be bullish during the period 2021-2031

With the rise in demand from the industries with fast-paced growth such as oil & gas, utilities, transportation, and others, the requirement for vibration control system has grown over the past decade. While development of broad categories of products such as isolating pads, absorbers, and dampers, manufacturers has catered to the market growth, the macro-economic factors such as rise in per capita expenditure on utility, increase in governmental expenditure on key end-use industries, and others have further fueled sales.

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According to the report titled “Transport in the European Union” published by the European Commission (EC), recently EUR 15 billion have been proposed for mobility, energy, and climate in the ‘Horizon Europe Programme Post-2020’. As stated in the report, the Europe transport industry includes a complex network of around 1.2 million public and private companies, and this number is growing fast.

According to the report titled “Logistics and Transportation Spotlight” by Select USA, the logistics and transportation industry in the United States is highly competitive, while the U.S business logistics costs reached US$ 1.6 trillion in 2018. As per the report, the foreign direct investment in this industry totaled US$ 1.5 billion in 2018.

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