The global acoustics market is expected to grow at a CAGR of 6.2% over the period between 2020 and 2027. The acoustics market size surpassed US$ 11.3 Bn in 2019, and expected to hit around US$ 18.8 billion by 2027. On the basis of end-use industry, the constructions sector has been a key consumer of acoustic materials. North America hosts a huge consumer base for the global market for acoustics due to the presence of a sophisticated commercial and industrial sector in the region.
Need for Sound-Proof Spaces to Propel Demand
The demand within the global market for acoustics has been rising on account of the need for sound-insulation in multiple industries. Office spaces, production houses, industrial units, libraries, and study areas need to have sound-proof doors, windows, and ceilings which has created commendable demand within the global market for acoustics. Furthermore, the availability of a wide range of sound insulation materials such as stone wool, fabric absorbers, fabric noise barriers, and fabric ceilings has also aided the growth of the global market for acoustics. It is expected that the global market for acoustics would expand alongside advancements in the entertainment, sound, and media industries. The need to create a desired sound effect and reflect sound at varying frequencies for movies and short films is another standpoint from the perspective of market growth.
High Cost of Deployment to Hamper Growth
Despite the affluent growth dynamics of the global market for acoustics, the growth of this market is restrained by the high cost of deployment for acoustics. The construction of sound-insulated areas is a capital-heavy task which has discouraged a number of industries from resorting to it. This has taken a huge consumer base away from the global market for acoustics, thus, restraining market growth. Nevertheless, the high-end industries with huge paying capacity are expected to keep building sound proof spaces and enclosures in the years to come.
Recovery of Construction Sector Boosts Building & Construction End-use Segment
The report examines the global acoustics market based on material, end-use, and geography. Depending upon type, the market is classified into glass wool, stone wool, acoustic insulators, fabric dampeners, fabric noise barriers, foamed plastic, fabric wall materials, acoustic fabrics, fabric absorbers, fabric diffusors, fabric ceilings, and fabric soundproofing materials. Foamed plastic led amongst key acoustic material types in 2018 mainly because of its better insulation properties and relatively lower price.
In terms of end-use, the global acoustics market can be classified into building & construction, industrial/HVAC & OEM, and transportation. Vis-à-vis revenue, the segment of building and construction occupied the leading share of almost 60% in the overall market in 2018. The building and construction segment is further sub-segmented into residential and commercial, of which residential occupies the leading share.
The demand within the global market for acoustics has been rising on account of the wide portfolio of acoustic products available in the market. The global market for acoustics has rid itself of the menace of outbound marketing as market vendors resort to innovative marketing hacks to attract consumers. The past decade has been a phase of revolutionary growth for the vendors in the global acoustic market, and the leading vendors have attracted a huge consumer base in these years. Hence, it is safe to predict that the position of the leading vendors in the global market for acoustics remains unchallenged in the current scenario.
Despite the solidified growth of the leading vendors, the market for acoustics has been witnessing the entry of newbie vendors over the past few years. Although these small vendors have failed to challenge the position of the leading market players, the former have set their roots in local and regional markets. It is expected that the leading vendors in the global market for acoustics would avert the entry of new players by forming strategic partnerships. Furthermore, the strong position of these vendors gives them the option of exerting pressure on industries and government to impose restrictions on the entry of new vendors.
The Global Acoustics Market has been segmented as presented below:
Acoustics Market: Material
Acoustics Market: End-use
Acoustics Market: Regional Analysis
Scope of the Report
Vision Research Reports recent report on the global acoustics market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the global acoustics market analyzes the market scenario for the period from 2020 to 2027, wherein 2020 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This VRR study on the global acoustics market also provides data on developments made by important players and stakeholders operating in the market, along with competition analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with market trends and restraints in the competition landscape section.
This study also discusses the underlying trends and the impact of various factors on the global acoustics market along with their influence on evolution of the market
This study also offers Porter’s five forces analysis, value chain analysis, and regulatory scenario of the global acoustics market, in order to elaborate crucial growth strategies of and opportunities for players operating in the market
Key Questions Answered in Global Acoustics Market Report
This report answers these questions about the global acoustics market, aiding major stakeholders and key players in making the right decisions and strategizing for growth of their business
The VRR report on the global acoustics market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competition scenario of the global acoustics market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and the current trends, researchers of the global acoustics market arrived at predictions and estimations, and calculated the market forecast.
This report uses an analytical triangulation method to estimate the numbers of the global acoustics market, by using both bottom-up and top-down approaches
This detailed assessment of the global acoustics market, along with an overview of the market, is provided based on a careful examination of avenues related to the market. Analysts’ conclusions on how the global acoustics market is set to expand are based on carefully vetted primary and secondary sources.
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