DUBLIN, July 19, 2023 /PRNewswire/ — The “Noise Mitigation System Market by Product Type, Application: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global noise mitigation system market was valued at $36.85 million in 2021, and is projected to reach $57.74 million by 2031, registering a CAGR of 4.7% from 2022 to 2031.
Noise control plays a crucial role in creating a peaceful and harmonious environment, protecting individuals from the detrimental effects of excessive noise pollution. By employing effective strategies and technologies, noise control aims to mitigate noise pollution at its source, receiver, or along its transmission path.
One area where significant advancements are being made is in the automotive industry, with the integration of soundproofing and noise-canceling technologies in vehicles. These innovations enhance the driving experience by creating a quieter and more comfortable environment for both drivers and passengers.
The global market for noise control systems has been impacted by the increasing preference of customers for products with lower noise levels. Noise pollution is a significant cause of stress in both workplaces and residences, resulting in reduced efficiency and heightened stress levels for employees. To address this, many companies are implementing noise control systems to enhance their employees’ working conditions and improve their overall productivity.
Overall, the market for noise mitigation systems is driven by environmental concerns, technological advancements, industry demand, and growing awareness of the negative effects of noise pollution. While challenges exist, opportunities arise from emerging markets, advancements in technology, and government initiatives.
The key players profiled in the noise mitigation system industry include Yamaha Corporation, Kinetics Noise Control, Inc., Knauf Gips KG, Armstrong World Industries Inc., SysTech Design Inc., Noise Barriers, Acoustical Surfaces, Inc., Quietstone UK Ltd., USG Corporation, and McGill AirSilence LLC.
These key players adopt several strategies such as product launch and partnership to increase the noise mitigation system market share during the forecast period.
Key Market Insights
- By product type, the acoustic tiles segment was the highest revenue contributor to the market, with $9.73 million in 2021, and is estimated to reach $17.55 million by 2031, with a CAGR of 6.18%.
- By application, the industrial segment was the highest revenue contributor to the market, with $17.83 million in 2021, and is expected to follow the same trend during the forecast period.
- Based on region, North America was the highest revenue contributor, accounting for $12.47 million in 2021, and is estimated to reach $19.76 million by 2031, with a CAGR of 4.81%.
- By Country, the U.S. was the highest revenue contributor, accounting for $7.12 million in 2021, and is estimated to reach $11.7 million by 2031, with a CAGR of 5.19%.
Market Dynamics:
Drivers:
- Increasing focus on environmental sustainability and community engagement
- Advancements in technology and innovation in noise mitigation systems
- Growing demand for noise mitigation systems from industries like construction, transportation, and manufacturing
- Growing environmental concerns and focus on noise reduction in urban areas
- Rising awareness of the negative effects of noise pollution on health and well-being
Trends:
- Adoption of eco-friendly materials, energy-saving technologies, and smart technologies in noise mitigation systems
- High demand for noise mitigation systems in emerging markets driven by rapid urbanization and industrialization
- Increasing adoption of green buildings and sustainable construction practices
- Advancements in noise mitigation technologies, such as active noise control and sound masking
Challenges:
- High initial installation costs of noise mitigation systems
- Lack of awareness about the benefits of noise mitigation in some regions
- Retrofitting noise mitigation systems in existing structures can pose challenges
Opportunities:
- High demand for noise mitigation systems in emerging markets
- Adoption of advancements in noise mitigation technologies
- Government initiatives to promote noise reduction and noise mitigation technologies
Company Profiles
- 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.
- Armstrong World Industries Inc.
For more information about this report visit https://www.researchandmarkets.com/r/fm6mjm
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SOURCE Research and Markets
