Noise Mitigation System Market to Surpass $2Bn by 2032, Says Graphical Research Powered by GMI
Noise mitigation system industry size is expected to register 5% CAGR between 2023 and 2032 propelled by the rising demand from expanding manufacturing industry.
Selbyville, Delaware, June 11, 2023 (GLOBE NEWSWIRE) —
Noise Mitigation System Market is expected to reach over USD 2 billion by 2032, as per a recent study by Global Market Insights Inc.
Growing focus on smart city projects is expected to have a positive impact on the noise mitigation system industry outlook. The strong emphasis on smart city initiatives to reduce noise pollution and improve city residents’ quality of life is likely to boost the product demand. Smart city development can have a positive impact on the environment and the health of city residents, which is encouraging governments to invest in advanced infrastructures. Noise mitigation systems are used to reduce noise pollution in a variety of industries, including construction, transportation, and manufacturing, as well as residential and commercial buildings.
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Easy affordability to augment plastic sheets demand
With respect to material, the noise mitigation system market is categorized into fiberglass, wood, plastic sheets, concrete, and others. The plastic sheets market will depict remarkable growth between 2023 and 2032, as per the report. Plastic sheets are relatively affordable compared to other noise mitigation materials such as concrete walls or acoustic panels, fueling segment growth. They can be customized and molded into different shapes & sizes easily and have better durability & resistance to various environmental conditions, including moisture, UV radiation, and temperature fluctuations.
Increasing product usage for residential applications
Based on application, the industry is segmented as residential, commercial, and industrial. The noise mitigation system market size from the residential segment will exhibit more than 8% CAGR through 2032 driven by the increasing use of noise-canceling systems to maintain the ambience of residential spaces. In addition, growing residential construction worldwide is positively affecting the market. For instance, residential construction investment in the U.S. increased by 1% in March 2023.
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Asia Pacific to hold the largest share of the industry
Asia Pacific noise mitigation system market will garner over USD 500 million in revenue by the end of 2032. The region is expected to witness a surge in demand for noise mitigation solutions from various industries. The implementation of strict regulations to reduce industrial noise pollution is set to contribute to product adoption. Furthermore, increasing awareness of the detrimental health effects associated with prolonged exposure to high levels of noise will elevate the business dynamics in the APAC region.
Major noise mitigation system market players
Some of the key players profiled in the noise mitigation system industry report include Kinetics Noise Control, Inc., Noise, IAC Acoustics, Acoustiblok, Inc., Noise Barriers, LLC, Amcon, Eckel Industries, Inc., IAC Acoustics, FabriTec Structures, Barriers, LLC, Harmonic Environments, Fabreeka International, Soft dB Inc., Acoustical Solutions, among others. These firms are engaging in a series of product diversification tactics, coupled with strategic partnerships and collaborations, to stay ahead in the competitive scenario.
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