Portland, OR, Nov. 15, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global NVH testing market was pegged at $2.0 billion in 2021, and is estimated to reach $3.5 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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NVH Testing Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.0 billion |
| Market Size in 2031 | $3.5 billion |
| CAGR | 5.9% |
| No. of Pages in Report | 257 |
| Segments Covered | Offering, Application, End-Use, and Region |
| Drivers | Implementation of government regulations regarding vehicle noise |
| Surge in use of rental and secondhand NVH testing equipment | |
| Opportunities | Surge in trend of engine downsizing |
| Technological advancements |
Covid-19 scenario:
- The impact of the COVID-19 pandemic has resulted in supply-chain disruptions causing low sales of passenger cars and temporary suspension of production of vehicles across the globe, which in turn resulted in decrease in the demand for NVH testing equipment.
- Reduced demand for NVH testing from aerospace and defense, and industrial sectors was also observed during the pandemic. However, post-pandemic, rise in the production & sale of automobiles has been observed, which is expected to drive the growth of the NVH testing market during the forecast period.
The global NVH testing market is segmented on the basis of offering, application, end-use, and region. Based on offering, the hardware segment held the largest share in 2021, accounting for more than two-thirds of the market. However, the software segment is estimated to register the highest CAGR of 6.8% during the forecast period.
On the basis of application, the impact hammer testing and powertrain NVH Testing segment held the lion’s share in 2021, contributing to more than one-fourth of the market. However, the others segment is projected to manifest the highest CAGR of 7.7% during the forecast period.
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Based on end-use, the automotive and transportation segment held the largest share in 2021, accounting for around two-fifths of the market. However, the others segment is projected to register the highest CAGR of 8.0% during the forecast period.
The global NVH testing market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2021, accounting for around two-fifths of the market. However, the market across Asia-Pacific is estimated to register the highest CAGR of 7.8% during the forecast period.
The global NVH testing market report include an in-depth analysis of the major market players such as Honeywell International Inc, National Instruments, AVL List GmbH, Autoneum Holding AG, Bertrandt AG, Brüel & Kjær, EDAG Engineering GmbH, FEV Group GmbH, HEAD acoustics GmbH, Schaeffler Engineering GmbH, Siemens AG, Dewesoft d.o.o.
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The report analyzes these key players in the global NVH testing market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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