NVH Testing Market worth $2.5 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 1, 2021 /PRNewswire/ -- According to a research report "NVH Testing Market with Covid-19 Impact Analysis by Type (Hardware, Software), Application (Impact Hammer Testing, Powertrain NVH, Sound Intensity Measurement, Pass-by-Noise, Vibration Testing), Vertical and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the global NVH Testing Market size is expected to grow from USD 1.9 billion in 2021 to USD 2.5 billion by 2026, at a CAGR of 5.5%. The market has a promising growth potential due to growing adoption of NVH testing solutions especially in automotive & transportation and power & energy verticals along with aerospace & defense and industrial equipment vertical in the near future. Stringent government regulations to reduce noise pollution, a paradigm shift towards electrification of vehicles and rising need for NVH testing solutions in applications such as impact hammer testing and powertrain NVH testing, sound intensity measurement and sound quality testing and so on are driving the growth of NVH testing market.
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The market has declined in 2020, mainly due to the impact of COVID-19. The supply chain was disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, that affected the NVH testing market. Though the market was impacted in 2020, it is expected to fully recover by 2021.
Sound Intensity Measurement and Sound Quality Testing is estimated as the fastest-growing application type in the said market during the forecast period
The NVH testing market for sound intensity measurement and sound quality testing is expected to grow at the highest CAGR during the forecast period. The growth in NVH testing market for the sound intensity measurement and sound quality testing application is attributed to their increasing applications in automotive & transportation, aerospace & defense, and consumer appliances verticals. This is because sound intensity and sound quality are important parameters in assessing the quality of a product. These are considered among the major characteristics during the manufacturing of a vehicle and other equipment and have a huge impact on the buyer's decision. This is particularly true of products where the noise of the product, such as a vehicle, a consumer appliance, or industrial equipment, helps define its performance or perceived performance. These factors drives the growth of the NVH testing market for the sound intensity measurement and sound quality testing application
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Power & Energy vertical is estimated to be the fastest-growing market during the forecast period
The NVH testing market for power & energy vertical is expected to be the fastest-growing markets during the forecast period. The noise generated from windmills due to their rotations has also become a source of environmental noise pollution, which compels OEMs to reduce NVH levels during the testing, designing, and product development phases. Thus, there is a strong requirement for NVH testing solutions in the power & energy vertical to comply with the regulations set for permissible noise levels.Hence, high pressure on OEMs to design and manufacture low-noise-level equipment due to stringent legislative obligations is one of the major factors leading to the growth of the NVH testing market for this vertical.
Asia Pacific is expected to grow at the highest rate
The market in APAC is expected to grow at the highest rate during 2021–2026. The global market players are experiencing increased demand for NVH testing solutions from countries such as China, Japan, India and South Korea. High investments in development of manufacturing facilities in countries such as China and India is also driving the growth of the said market in APAC. Furthermore, growing urbanization, rising disposable income, replacement needs, strict safety regulations, and technological innovations also help to drive the demand for NVH testing solutions in APAC.
Major players in the NVH testing market include National Instruments (US), Siemens Digital Industries Software (US), Brüel & Kjær (Denmark), HEAD acoustics (Germany), imc Test & Measurement (Germany), Dewesoft (Slovenia), GRAS Sound & Vibration (Denmark), Prosig (UK), m+p international (Germany), and Signal.X (US)among others.
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Vibration Sensors Market with Covid-19 Impact by Type (Accelerometers, Proximity Probes, Displacement Sensors, Velocity Sensors), Monitoring Process (Online and Portable), Equipment, Industry, and Region - Global Forecast to 2025
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