LCV Electric Vehicle Sound Generator Market is Expected to Witness Healthy Growth at 14% CAGR through 2029

Surpassing a valuation of US$ 324 million, the global electric vehicle sound generator market is projected to create an absolute $ opportunity of more than US$ 241 Mn by the end of forecast period.

Get Complete Synopsis of this Report - https://www.factmr.com/report/4569/electric-vehicle-sound-generator-market

Electric vehicle sound generators are used for external sound creation in electric & hybrid vehicles as these vehicles are quiet and thus pose a threat of accidents with pedestrians. In order to avoid such adverse situations, governments of several countries are developing & implementing new motor vehicle regulations and mandating installation of electric vehicle sound generators in all electric and hybrid vehicles.

For instance, in July 2019, European Union developed a regulation to make use of electric vehicle sound generators compulsory in all electric and hybrid vehicles sold in the member countries of EU.

Click Here To get a Sample Report (Including Full TOC, Table & Figures) :-https://www.factmr.com/connectus/sample?flag=S&rep_id=4569

In September 2019, government of China implemented new guidelines regarding use of acoustic vehicle alerting systems for electric & hybrid vehicles. Such legislations along with the increasing adoption of the electric vehicles creates humongous opportunities for the manufacturers of electric vehicle sound generators. On this premise, global electric vehicle sound generator market is projected to grow at an astounding CAGR of more than 14% between 2019 and 2029,

Connect To an Expert :-https://www.factmr.com/connectus/sample?flag=AE&rep_id=4569

Key Takeaways of Electric Vehicle Sound Generator Market
Global electric vehicle sound generator market is projected to grow at a value CAGR of 14.5% and it is anticipated to expand by 3.9X from 2019 through 2029.
Passenger vehicles will hold maximum share in terms of value and are projected to be valued at US$ 263 million by the end of forecast period (2019 – 2029).
Light commercial vehicles is expected to grow at a volume CAGR of 14% and will gain 80 BPS by the end o0f forecast period.

To Get All-In Insights On the Regional Landscape of The Report Market, Buy Now:-https://www.factmr.com/checkout/4569/S

OEM sales channel is projected to account for majority share in terms of value and is anticipated to create an absolute $ opportunity of more than US$ 227 Mn during the forecast period.
Light commercial vehicles (LCV) & heavy commercial vehicles (HC) are projected to grow at a volume CAGR of 14% & 9.8% respectively and will collectively create an absolute $ opportunity of more than US$ 32 million by the end of forecast period.
Aftermarkets sales channel is anticipated to grow at a value CAGR of more than 10% and will account for valuation of more than US$ 20 Mn by the end of forecast period.
Japan is projected to hold maximum share in global electric vehicle sound generator market and is expected to grow 2.4X more than North America by the end of forecast period.

Need More information about Report Methodology? Click Here :-https://www.factmr.com/connectus/sample?flag=RM&rep_id=4569

APEJ is expected to hold substantial share in terms of value and it will gain 980 BPS on its market share in terms of value by the end of forecast period.
“Global electric vehicle sound generator market will create enormous opportunities as governments of several countries are introducing new motor vehicle regulations to make compulsory use of electric vehicle sound generators, and at the same time increasing the adoption of electrical vehicles.”- Says the Fact.MR’s analyst

Read More Trending Reports of Fact.MR: -https://www.globenewswire.com/en/news-release/2018/01/23/1299071/0/en/5-Key-Takeaways-from-Fact-MR-s-Report-on-Graders-Market-for-Forecast-Period-2017-2026.html

.
Manufacturers Focusing on Expansion of their Product Portfolio
Global electric vehicle sound generator market is highly competitive with few players accumulating majority of the share. Manufacturers are developing new products in order to increase their reach and maintain their position in the market. For instance, in September 2019, Kia Motors launched two hybrid vehicles XCeed and Ceed Sports-Wagon with its new virtual engine sound system.

Recent Market Research Articles By Fact.MR :-
How Turbo Charging Can Lead to Better Fuel Efficiency
5 Trends in the Global Consumer Goods Market in 2017 to 2021
5 Medical Devices Technologies that are Making a Big Impact in 2017 to 2021

More Valuable Insights on the Electric Vehicle Sound Generator Market:
Fact.MR, in its new offering, has presented an unbiased analysis of the global electric vehicle sound generator market, presenting historical demand data (2013-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the electric vehicle sound generator market on the basis of vehicle type and sales channel across seven major regions.

Explore Fact.MR’s Comprehensive Coverage on Automotive Landscape
Off-Highway Engine Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031
Autonomous Farm Equipment Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031
Aircraft Tugs Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:

Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website:
https://www.factmr.com
Research Insight:
https://www.factmr.com/report/4569/electric-vehicle-sound-generator-market
Content Source:
https://www.factmr.com/media-release/1346/global-electric-vehicle-sound-generator-market

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. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

This release was published on openPR.