The most recent study conducted by Report Ocean, titled “Global NVH Testing Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the NVH Testing. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global NVH testing market to reach USD 2.6 billion by 2027. Global NVH testing market is valued approximately at USD 1.8 billion in 2020 and is anticipated to grow with a healthy growth rate of about 5.5% over the forecast period 2021-2027. NVH testing (Noise Vibration and Harshness testing) accounts to be a critical component in any product during its development and design phase and is considered to be ideal to optimize vibration and noise of the vehicles, such as design, reduction, and quality assurance of the exterior and interior noise. The global NVH testing market is being driven by stringent government regulations to reduce noise pollution and shift toward electrification of vehicles.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Furthermore, advancements in sensor and processor technologies will provide new opportunities for the global NVH testing industry. Market players across the globe are also significantly contributing towards the market growth through a range of strategic initiatives. For instance, in 2021, HEAD Acoustics collaborated with BlackBerry QNX for the improvement of sound design workflow for automakers by the integration of BlackBerry QNX Active Sound Design software with the company’s NVH simulator, PreSense.
Also, in 2020, Br? 1/4 el & Kj??r unveiled a new version of its NVH Simulator, 2019.1, which expands the capability to model hybrid and electric vehicles, along with more than 200 other enhancements and improvements. Such strategic initiatives taken by the market players across the globe is expected to further fuel developments in the market which is expected to boost the market growth. However, availability of rental and second-hand NVH testing equipment may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global NVH testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounts for the largest share in terms of market revenue in the global NVH testing market over the forecast period 2021-2027. Factors such as growth in the vehicle manufacturing across countries such as China, India, and Japan, increase in the number of manufacturing facilities, rise in the penetration of automotive OEMs/plants, etc. contribute towards the largest market share of the region in the forecast years.
Major market player included in this report are:
National Instruments
Siemens Digital Industries Software
Br? 1/4 el & Kj??r
HEAD acoustics
IMC Test & Measurement
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Dewesoft
GRAS Sound & Vibration
Prosig
M+P International
Signal.X
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Hardware
Software
By Application:
Impact Hammer Testing & Powertrain NVH Testing
Environmental Noise Measurement
Pass-by Noise Testing
Noise Source Mapping
Sound Intensity Measurement and Sound Quality Testing
Building Acoustics
Mechanical Vibration Testing
Product Vibration Testing
By Vertical:
Automotive & Transportation
Aerospace & Defense
Power & Energy
Consumer Appliances
Construction
Industrial Equipment
Mining & Metallurgy
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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