The augmented use of speakers in almost every application has increased opportunities for the growth of the speaker membrane market. Use of diverse speaker configurations call for ingenious designs in varied speaker membranes made of different materials. Design and material selection parameters are typically influenced by working conditions and end applications, which has given rise to innumerable speaker membrane variants.
This has led to significant product innovations in the industry. With rise in urbanization, per-capita income has become higher, and consumer trends have started to influence the speaker membrane market. Balance between cost and quality via pricing policies and product offerings has led to rise in the procurement rate of speaker membranes. This has subsequently ascended demand in the global speaker membrane market.
The global speaker membrane market is anticipated to expand at an impressive CAGR of nearly 9% during the forecast period of 2020-2030.
Key Takeaways from Speaker Membrane Market Stud
- The use of speaker membranes has been prominent in loudspeakers, as they find continued application in public address systems and commercial speaker installations in offices, restaurants, retail, and gymnasiums.
- PMR forecasts that, there will be a favorable growth rate of the speaker membrane market in emerging economies, due to increasing population and strong network of supply chains. One of the influencing parameters is the rising presence of domestic players influencing market growth.
- Manufacturers are investing in research & development projects to be able to provide speaker membranes to cater to advancements in audio equipment and introduction of smart speakers. Their focus is to design according to compatibility and new speaker designs.
- Use of composite materials in speaker membranes, such as graphene, has shifted the need from conventional membrane materials to premium materials that provide low mass and sufficient rigidity. The effect of such developments, with their powerful marketing and engineering, is speculated to reshape the global speaker membrane market.
- Membrane materials such as paper provide good damping at cheap prices. Paper cones continue to dominate the global speaker membrane market.
- The high flexing capabilities of polymer cones have made them a preferred choice among end users, and different types of polymers have been used in manufacturing speaker membranes.
- Recent industrialization coupled with manufacturing growth outlook is expected to shape the global speaker membrane market over the forecast period. Key emphasis on increasing online presence coupled with aggressive marketing to create digital footprints is a key trend.
- With decreased demand from end-use industries due to the COVID-19 outbreak, growth of the speaker membrane market will be impeded to some extent in the near term.
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“The speaker manufacturing industry has experienced multiple reforms during the COVID-19 pandemic. However, industry leaders have defined new methods to recover from the crisis, and seek to generate more business in the long run. This is expected to create new opportunities for speaker membranes as they re-enter the market with emerging trends and unique propositions,” says a PMR analyst.
Global Speaker Membrane Market Landscape Continues to Remain Fragmented
The global speaker membrane market is highly fragmented in nature, with few players occupying minimum share in the space. Some of the leading manufacturers identified in the global speaker membrane market are Murata Manufacturing Co. Ltd, CX Technology Corporation, Loudspeaker Components LLC, and GuoGuang Electric Company Ltd, amongst others. Manufacturers are aiming to strengthen their market share by improving their brand value, new product development, and catering to various applications.
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Global Speaker Membrane Market: Conclusion
In recent times, the speaker membrane industry has witnessed substantial growth due to the rising applications in different industries such as automotive, electronics, home entertainment, retail, and commercial, to name a few. The global speaker membrane market is anticipated to influence product innovation, with high presence of manufacturers having a major share of companies operating through distributors. Key players focus on expansion strategies and regional dominance to establish their products across regions. Additionally, stringent regulatory norms pertaining to polymer usage in speaker cones, in the long run, will allow development of improved substitutes from other materials. These factors will positively aid in the growth of the global speaker membrane market.
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The research report on the global speaker membrane market published by Persistence Market Research analyzes demand trends of the product on value and volume basis. Global market estimation and growth projections are based on factors such as increase in usage of speakers in automobiles, growth of consumer electronics industry, and wide usage of public address systems. The COVID-19 crisis impact and robust industrial growth increase demand in industrial applications. As per PMR’s research scope, the global speaker membrane market has been studied and segmented on the basis of material, end use, and region. The global speaker membrane market report also details pricing trends, cost structure, and the market presence of leading manufacturers.
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