"NVH testing market projected to witness significant growth between 2017 and 2023"
The NVH testing market is estimated to be valued at USD 1.72 billion in 2017 and is projected to reach USD 2.21 billion by 2023, at a CAGR of 4.2% between 2017 and 2023. The growth of the NVH testing market is propelled by the adoption of stringent government regulations to reduce noise pollution and increasing demand for automotive and car infotainment system. Emergence of new application areas for NVH testing solutions and advancement in sensor and processor technologies are the key opportunities for the players in the NVH testing market. The major restraint for the NVH testing market is the increasing demand for secondhand and rental NVH testing equipment.
"Power generation to register the highest CAGR during the forecast period"
On the basis of end user, the NVH testing market for power generation is expected to register the highest CAGR between 2017 and 2023. Stringent legislative obligations placing high pressure on OEMs to design and manufacture low noise level equipment is one of the major factors leading to the growth of the NVH testing market for power generation.
"Software to register a higher CAGR during the forecast period"
On the basis of type, the NVH testing market for software is expected to register a higher CAGR between 2017 and 2023. Changing technology and requirement for the NVH testing equipment used across several industries is the major factor leading to the growth of the NVH testing market for software.
"Europe to register the highest CAGR during the forecast period"
The NVH testing market in Europe is expected to register the highest CAGR between 2017 and 2023. Germany, the UK, France, and Italy are some of the prominent countries driving the growth of the NVH testing market in Europe. The adoption of stringent regulations for the reduction of pass-by-noise levels, which would help in reducing the overall environmental noise, as well as the presence of prominent NVH testing solution providers, drive the growth of the NVH testing market in this region.
Following is the breakup of the profiles of primary participants:
- By Company Type: Tier 1 - 55%, Tier 2 - 25%, and Tier 3 - 20%
- By Designation: Directors - 50%, Vice Presidents - 25%, Managers - 20%, and Others - 5%
- By Region: North America - 40%, Europe - 35%, APAC - 15%, and RoW - 10%
Key players operating in the NVH testing market include National Instruments (US), Bruel & Kjær (Denmark), Siemens PLM Software (US), HEAD acoustics (Germany), m+p international (Germany), imc MeBsysteme (Germany), Dewesoft (Slovenia), GRAS Sound & Vibration (Denmark), Prosig (UK), and Signal.X (US).
This research report segments the NVH testing market on the basis of type, application, end user, and geography. Based on type, the NVH testing market has been segmented into hardware and software. By application, the NVH testing market has been classified into environmental noise, pass-by-noise, noise mapping, sound power, telecom testing, sound quality, building acoustics, human vibration, product vibration, and others. Based on end user, the NVH testing market has been segmented into automotive and transportation, aerospace and defense, power generation, consumer electronics, construction, industrial equipment, mining and metallurgy, and others. Based on region, the market has been classified into North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
-Illustrative segmentation, analysis, and forecast for the market based on type, application, end user, and geography have been conducted to offer an overall view of the NVH testing market.
-The value chain analysis has been performed to provide an in-depth insight into the NVH testing market.
-The report provides a detailed overview of major drivers, restraints, opportunities, and challenges influencing the growth of the NVH testing market.
-The report also includes the competitive landscape, along with in-depth analysis and revenues of key players.