Press release
Electric Vehicle Sound Generator Market Surpassing a valuation of US$ 324 million by 2029 | Delphi Technologies, Denso Corporation, Continental AG, HARMAN International
“Global electric vehicle sound generator market will generate highly lucrative opportunities as governments are setting up new motor vehicle regulations to make the use of electric vehicle sound generators mandatory, and simultaneously increasing the adoption rates of electrical vehicles,” opines Fact.MR in its new research study.
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Electric Vehicle Sound Generator Market – Key Takeaways
Passenger vehicles will continue to account for a major market share throughout the forecast period.
Japan will remain a leading regional market for electric vehicle sound generators growing 2.4x in comparison to North America.
Aftermarket sales channel would witness a strong growth outlook.
Adoption in light commercial vehicles (LCVs) will demonstrate a massive 14% CAGR.
The OEM sales channel will continue to account for majority share in terms of market value through 2029.
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Electric Vehicle Sound Generator Market – Key Driving Factors
Rising proliferation of electric vehicles on a global scale a primary factor favoring market growth.
Government incentives for electric vehicles including tax credits and rebates are significantly contributing towards the growth of market.
Regulations making the installation of electric vehicle sound generators mandatory drive the escalating demand, which remains a major market growth driver.
Increasing range of product options for customized sound profiles is bolstering market growth.
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Electric Vehicle Sound Generator Market – Key Constraint
Costs of installation and maintenance associated with electric sound generators, and lack of standardization in products are key challenges for the industry.
Competition Landscape
The key players in the electric vehicle sound generator market are Delphi Technologies, Mando Hella Electronics Corp, Denso Corporation, Honda Motor Co. Ltd., Continental AG, BMW AG, HARMAN International, Sound Racer, Nissan Motor Co. Ltd., Kendrion N.V., Tesla Inc., KUFATEC GmbH and Co. KG, Daimler AG, and Volkswage AG, among others. The leading players are trying to invest in research and development endeavors, to meet the needs of industrial and automotive applications. Further, the players are launching products to generate customized sound profiles to cater to consumer demands.
About the Report
This 170-page study offers readers a comprehensive market forecast of the electric vehicle sound generator market. Global, regional and country-level analysis of the latest industry trends impacting the electric vehicle sound generator market is covered in this Fact.MR study. The report offers compelling insights on electric vehicle sound generator market on the basis of vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles, and others), sales channel (OEM and aftermarket), across six regions (North America, Latin America, Europe, Japan, APEJ, and MEA).
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About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. We are headquartered in Dubai, and operate from our sales office in Dublin, Ireland. Reach out to us with your goals, and we’ll be an able research partner.
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