NEWARK, Del, Nov. 16, 2022 (GLOBE NEWSWIRE) -- The global sound level measurement meter market is anticipated to reach a valuation of US$ 1120 Mn by 2032, with sales growing at a moderate CAGR of 5.1% from 2022 to 2032. Valued at US$ 650 Mn in 2021, the target market is set to reach an estimated US$ 682 Mn in 2022. The heightened demand for renovation projects and advancement in the residential and commercial construction field is expected to stimulate the growth of the sound level measurement meter market during the forecast period.
Typically, used for the measurement of acoustics (sound that traverses through the air) sound level measurement meter is rapidly gaining traction in the present global market. The meter is a remarkably small device with a microphone. The diaphragm of the microphone responds to changes in the air pressure that are generated by sound waves. The escalating cases of ear impediments coupled with heightened noise pollution are contributing to the growing demand for this device.
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Again, due to the increasing number of automobile owners and users, a surge in the number of jet planes, and a growth in the usage of woofers & speakers with high power, there has been a notable swell in problems such as stress, hearing, and cardiovascular diseases.
This amplifies the demand for a sound level measurement meter. In addition to this, the growing number of investments by governments worldwide in order to maintain eco-friendliness is expected to bolster the demand for sound-level measurement meters.
Moreover, an upsurge in the number of noise pollution studies for the quantification of different types of noise, particularly from industries, aircraft, and mining, will likely have a positive impact on the demand for sound level measurement meters.
Additionally, improving standards regarding noise pollution and its control will further drive the demand for sound level measurement meters during the forecast period.
"Rising cases of ear impediments as well as heightened demand for noise pollution control will likely propel the global growth of the sound level measurement meter market over the forecast period," says an FMI analyst.
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Key Takeaways:
- High costs of the product will likely stunt the market growth.
- The growing demand for noise pollution control will facilitate market prospects.
- The sound level measurement meter market in the Asia Pacific region will register a growth rate of 5.1%.
- Accounting for 35% market share, North America’s sound level measurement meter market will grow at 5% during the forecast period.
Competitive Landscape
3M Company, Norsonic AS, Svantek, Inc., Testo SE & Co. Kgaa, CIRRUS Research Plc., Tes Electrical Electronic Corp., Nti Audio, Casella, Inc., Bruel & KJR, Rion Co., Ltd., among others are some of the major players in the sound level measurement meter market profiled in the full version of the report.
Leading market players are focusing on product development and launching new products. These businesses are keen on adopting various organic and inorganic strategies like product upgradation and development as well as product innovation to expand their consumer base.
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More Insights into Sound Level Measurement Meter Market Report
In its latest report, FMI offers an unbiased analysis of the global sound level measurement meter market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032.
To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (ordinary sound level measurement meters, precision sound level measurement meters), application (sound level measurement meters for factories and enterprises, sound level measurement meters for environment protection, sound level measurement meters for transportation, sound level measurement meters for R&D, sound level measurement meters for other applications), and region.
According to the latest FMI reports, based on region, the sound level measurement meter market in the Asia Pacific region will present notable growth due to the availability of several lucrative opportunities. The target market in this region will register a Y-o-Y growth rate of 5.1%.
This growth can be attributed to the extensive usage of the target product in industrial and environmental settings. The presence of key market participants as well as initiatives undertaken by countries like India and China will further propel the growth of the sound level measurement meter market in the Asia Pacific region during the projected period.
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North America’s sound level measurement meter market will also demonstrate considerable growth. While the regional target market accounted for a share of 35% in 2021, it is expected that the market will record a growth rate of 5% during 2022-2032.
Factors such as increasing technological advancements in sound level measurement meters and growing industrial, power generation, and aerospace activities in the U.S. will aid the growth of the target market in North America during the forecast period.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
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