According to a new report published by Allied Market Research, titled, “NVH Testing Market,” The NVH testing market was valued at $2 billion in 2021, and is estimated to reach $3.5 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031.
North America is expected to dominate the global NVH testing market. North America is projected to witness an increase in the adoption of NVH testing by the automotive and aerospace & defense sectors. Moreover, market has gained immense traction in North America, due to increase in production of vehicles, equipped with components that produce low noise and vibration. In addition, presence major companies like National Instruments Siemens Digital Industries Software, Benstone Instruments Inc., Data Physics, Erbessd Instruments, Honeywell, PCB Piezotronics and Thermotron supplements the growth of the NHV testing market across North America.
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Key players operating in the global NVH testing market include AVL, Autoneum, Bertrandt AG, Bruel and Kjaer, EDAG Engineering GmbH, FEV Group GmbH, Head Acoustics GmbH, Honeywell International Inc, National Instruments Corp., Schaeffler Engineering GmbH, Siemens AG, and Dewesoft.
The NVH testing market is experiencing growth, due to implementation of government regulations pertaining to reducing vehicle noise, and rise in customer preference for enhanced cabin comfort & luxury features. However, surge in usage of rental and secondhand NVH testing equipment is the factor hampering the growth of the market. Furthermore, rise in trend of engine downsizing, and technological advancements are the factors expected to offer growth opportunities during the forecast period.
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KEY FINDINGS OF THE STUDY
- By offering, the software segment is anticipated to exhibit significant growth in the near future.
- By application, the others segment is anticipated to exhibit significant growth in the near future.
- By end-use, the others segment is anticipated to exhibit significant growth in the near future.
- By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
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