Global Acoustic Damping Tiles Market 2019-2023 | Industry Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Jan 9, 2019--The global acoustic damping tiles market research report by predicts the market to post a CAGR of close to 6% during the period 2019-2023.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190109005681/en/
Technavio predicts the global acoustic damping tiles market to post a CAGR of close to 6% by 2023. (Graphic: Business Wire)
A key driver for the global acoustic damping tiles market is the rising demand for acoustic damping tiles in the aerospace industry. The increasing orders and backlogs in the commercial aircraft industry are anticipated to promote the demand for acoustic damping tiles. In 2017, Boeing delivered 763 commercial airplanes and had a backlog of 912 orders from 71 airline customers by the end of 2017. Likewise, Airbus also delivered 718 orders in 2017 and had a backlog of 1,109 orders by the end of 2017. With the increasing orders for new aircraft, the demand for acoustic damping tiles will increase driving market growth.
As per Technavio, the rapid growth of the online channel will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global acoustic damping tiles market: Rapid growth of online channel
The increasing Internet penetration has been promoting the online sales of acoustic damping materials. E-commerce platforms offer a wide range of brands and provide the convenience of purchasing home insulation products online to the consumers. The use of the online channel also expands the presence of global brands in emerging countries such as India and China where awareness about acoustic insulation is less among residential end-users.
“A large number of vendors are offering acoustic insulation materials through online platforms because it provides vendors easy access to the market and decreases overheads by reducing the need for retail premises. It also provides customer intelligence that can be used while taking business decisions,” says a senior research analyst at Technavio.
Global acoustic damping tiles market: Segmentation analysis
This acoustic damping tiles market analysis report segments the market by end-users (construction, transportation, and industrial) and geography (the Americas, APAC, and EMEA).
The construction segment held the largest acoustic damping tiles market share in 2018, accounting for over 54% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The EMEA region led the market in 2018 with more than 35% of the market share, followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20190109005681/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING ENGINEERING OTHER MANUFACTURING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 01/09/2019 12:07 PM/DISC: 01/09/2019 12:07 PM