NVH Testing Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

Posted by edwardzmusso on October 5th, 2021

The global NVH testing market size is estimated to grow from USD 1.9 billion in 2021 to USD 2.5 billion by 2026, at a CAGR of 5.5%. The market declined in 2020, mainly due to the impact of COVID-19. The industrial supply chain was disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the NVH testing market. Though the market was impacted in 2020, it is expected to fully recover by 2021. Implementation of stringent government regulations to reduce noise pollution and growing adoption of NVH testing solutions in automotive & transportation and power & energy verticals is the primary factor driving the market growth.

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The NVH testing market is witnessing several new application areas, which provide an opportunity for vendors offering NVH testing equipment and solutions. Companies are focusing on launching NVH testing solutions that serve the specific needs of a vertical, as companies from different verticals have different requirements. Some of the prominent areas witnessing emerging applications for NVH testing equipment and solutions include automobile & transportation, power & energy and mining sites.

Electric vehicles (EVs) and hybrid electric vehicles (HEVs) are increasingly becoming a part of the modern transportation ecosystem. This has led to the demand for modern and novel NVH engineering solutions for such vehicles. The growing adoption of electric vehicles is expected to have a significant impact on the NVH testing market. The paradigm shift from ICE vehicles to advanced electric-drive vehicles is changing the scenario of NVH testing solutions and has made it mandatory for NVH testing OEMs to innovate NVH tools and solutions considering the prospects. This, in turn, provides an opportunity for NVH testing solutions providers to provide compatible solutions for electric vehicles. In addition to this, power generated by windmills is one of the major sources of renewable energy and has witnessed increased adoption across the globe. However, the noise created by wind turbines and blades is a cause of concern for the environment. Hence NVH solutions are used in power & energy for various applications. Also, mining activities are one of the major sources of noise pollution; hence, many cities across the globe have set stringent regulations to reduce or curb the noise generated from mining activities. These are a few factors driving the market of NVH testing.     

The NVH testing market for software is expected to grow at the highest rate during the forecast period. Changing requirements of end users and technological advances in NVH testing solutions used across several industries are the major factors leading to the growth of the NVH testing market for software. These software solutions include all computer programs and tools that provide an interface and allow manipulation of outputs from recorded and testing devices used for NVH testing and measurement purposes.

The NVH testing market for sound intensity measurement and sound quality testing application is expected to grow at the highest CAGR during the forecast period. 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. There has been an increasing demand for NVH testing solutions, especially in automotive & transportation, aerospace & defense, and consumer appliances verticals. This factor drives the growth of the NVH testing market for the sound intensity measurement and sound quality testing application

The market in Asia Pacific is expected to register the highest CAGR during 2021–2026. The market has high growth potential owing to the low cost manufacturing of products in automobile and consumer appliance industry. The region is the largest manufacturer of automotive all over the globe. Growing construction activities and the rising developments in manufacturing sector in different regions due to increasing population and urbanization creates demand for NVH testing solutions in APAC. Furthermore, the increased demand for NVH testing systems in automobile & transportation, consumer appliances and power and energy verticals in the region is the crucial factor driving the market in this region. Countries such as India, China, South Korea, and Japan are a few of the major countries contributing to the growth and development of the NVH testing market in this region.

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edwardzmusso
Joined: February 8th, 2021
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