The NVH testing market size is expected to grow from USD 2.1 billion in 2020 to USD 2.9 billion by 2025, at a CAGR of 6.9%
NEW YORK, May 11, 2020 /PRNewswire/ -- NVH testing market to grow at CAGR of 6.9% during 2020–2025
The NVH testing market size is expected to grow from USD 2.1 billion in 2020 to USD 2.9 billion by 2025, at a CAGR of 6.9%. The drivers fueling the growth of the market include the adoption of stringent government regulations to reduce noise pollution and increasing demand for in-vehicle infotainment systems.
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Automotive and transportation to hold largest share of NVH testing market during forecast period
The automotive and transportation segment is expected to hold the largest size during the forecast period.NVH testing is an inseparable part of the automotive product and component design and development process.
In recent years, various technologies, including mechatronics, telematics, and artificial intelligence, have been employed in motor vehicles to provide greater safety and comfort, as well as for the entertainment of travelers. The use of all such advanced technologies in vehicles has led to a high demand for NVH testing solutions to test automobile components during the design and development process.
Hardware type to hold larger share of NVH testing market in 2020
The hardware segment is expected to hold the largest share of the market in 2020. The increasing use of mechanical and electronic systems comprising hardware components and software solutions in automotive, aircraft, and industrial testing equipment has led to the larger size of the hardware segment in the NVH testing market.
North America to dominate NVH testing market in 2020
North America is expected to dominate the NVH testing market in 2020.It is the most technologically advanced region wherein major automotive and aerospace & defense companies have their manufacturing plants and offices; this factor has resulted in the increased demand for NVH testing solutions in this region.
North America is witnessing an increasing demand for premium cars with advanced infotainment systems. A significant portion of semiconductor content is consumed by these luxury cars for enhanced safety, comfort, and connectivity features within vehicles.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the NVH testing market. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 = 55%, Tier 2 = 25%, and Tier 3 =20%
• By Designation: Directors = 50%, Managers = 20%, Vice Presidents = 25%, Others = 5%
• By Region: North America = 40%, Europe = 35%, APAC = 15%, and RoW = 10%
National Instruments (US), BRÜEL & KJÆR (Denmark), Siemens PLM Software (US), Head Acoustics (Germany), imc Test & Measurement (Germany), Dewesoft (Slovenia), (US), GRAS Sound & Vibration (Denmark), Prosig (UK), m+p international (Germany), Signal.X (US), Honeywell (US), ESI Group (France), Thermotron (US), Erbessed Reliability (US), Kistler Group (Switzerland), IMV Corporation (Japan), Econ Technologies (China), Polytec (Germany), and Benstone Instruments (US) are the major companies dominating the NVH testing market.
Research Coverage:
This research report categorizes the global NVH testing market based on end-user industry, applications, type, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the NVH testing industry and forecasts the same till 2025.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the NVH testing market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders to understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and acquisitions.
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