Sound Barriers Market Size, Application Potential, By Product, 2017 – 2024
Sound Barriers Market is segmented based on application as building & construction, transportation and industrial. Building & construction industry is projected to hold significant share in the overall industry and is anticipated to witness notable gains in forecast period.
Sound Barriers Market will witness substantial growth owing to rising need for effective noise proofing in industrial, commercial and residential buildings. Increasing consumer consciousness pertaining to harmful effects of noise pollution will support product penetration. Rising incidences of hear loss caused due to long term exposure to loud noise has further stimulated the industry growth.
Improved living standards along with increasing preference for privacy will propel product scope in residential construction sector. As per industry experts, elevated environmental noise causes several diseases including hearing impairment, ischemic heart disease, hypertension and annoyance. Increasing awareness regarding employee comfort and maintaining workplace ambience particularly in commercial buildings will propel Sound Barriers market growth.
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Rapid industrialization, urbanization along with growing population are among key factors driving the product demand. High product adoption in public places supported by increasing government investments in public infrastructure projects particularly in Europe and North America will propel Sound Barriers market. Growing traveling and transportation frequencies resulting in extreme noise pollution has enhanced product demand in residential buildings.
Stringent government regulations regarding sustainable infrastructural development and prevention of noise pollution will induce industry demand. For instance, EPA has defined standards for controlling of noise generated in transportation and din isolation of building environments. Shifting government focus on infrastructure development with huge investments will propel Sound Barriers market size.
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Augmented need for improved NVH levels from customers along with increasing road traffic levels particularly in developed cities will propel industry growth. Swift growth in automotive and aviation industries in emerging countries will foster Sound Barriers demand. However, relatively slower pace of new infrastructure development in several regions may hamper segment growth.
Lack of awareness regarding product benefits coupled with lack of effective technological development are among major challenges for industry growth. Capital intensive industry with high installation costs are key factors influencing price trend. Moreover, consumer perception towards Sound Barriers as luxurious product rather than a necessity may hinder business growth.
Sound Barriers market is segmented based on application as building & construction, transportation and industrial. Building & construction industry is projected to hold significant share in the overall industry and is anticipated to witness notable gains in forecast period. Growth in overall construction and transportation industry will support product demand. Increasing product penetration in industrial applications to meet the regulations for labor health & safety will drive the segment growth.
North America, led by the U.S. will observe significant growth owing to growing automotive sales. Government investments in infrastructure development for noise prevention particularly at highways and airports will propel Sound Barriers market. Increasing R&D investments and technological advancements will open new avenues for industry growth. Growth in construction industry particularly in the U.S. is another factor driving business growth.
Asia Pacific is estimated to witness substantial growth due to expansion in construction and transportation industry. Increasing number of manufacturing facilities causing high noise pollution due to machinery & equipment will support the Sound Barriers market. Rising traffic congestion levels particularly in China, India & Japan will stimulate product demand. The industry will foresee agreement & collaborations between manufacturers to ensure their position and growth over the forecast period. For instance, MULTIVAC and the Australian Snapsil Corporation signed an agreement for the application of patented packaging concept Snapsil easy opening on MULTIVAC thermoforming packaging machines to gain access to innovative packaging expertise.
Global Sound Barriers market share is fragmented and competitive due to presence of both multinational corporations and regional manufacturers. AcoustiGaurd, ZAK Acoustic Product Manufacturer, Ray Chung, Easi-Set, Amcon Block & Precast and Fort Miller Group are among major industry players. Other prominent players include Hoover Treated Wood Products, Armtec Infrastructure, Coastal Precast Systems, Cretex Companies, Dynamic Precast Company, Facade Technology and Mckeown International. Mergers, collaborations, acquisitions, product portfolio expansion are among major strategies adopted by industry players.
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