Electric Vehicle Sound Generator Sales Majorly Buoyed by Pedestrian Safety Concerns; Adoption in LCVs Pegged at 14% CAGR by 2029, Says a New Fact.MR Study

Leading players in the electric vehicle sound generator market are focusing on new product launches, in addition to collaborations with OEMs to cater to upsurge in demand.

Dubai, UAE, March 25, 2020 (GLOBE NEWSWIRE) -- Rapid commercialization of electric vehicles for energy efficiency and lower emissions is increasing the demand for electric vehicle sound generators. Projecting the market growth at an exponential CAGR of more than 14%, a new Fact.MR study provides a comprehensive analysis of the electric vehicle sound generator market. Key factors attributing to this rising demand include the favorable government incentives, and the need to minimize accidents with pedestrians.

“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.

Request PDF Sample of the 170-page report on the electric vehicle sound generator market - https://www.factmr.com/connectus/sample?flag=S&rep_id=4569

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.

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.

Explore the complete electric vehicle sound generators market report with detailed market segmentation, 91 illustrative figures, and 84 data tables at - https://www.factmr.com/report/4569/electric-vehicle-sound-generator-market

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).

Explore Fact.MR’s Comprehensive Coverage on Automotive Landscape

Automotive Tubeless Tires Market- Learn more about the major influencing factors affecting the automotive tubeless tires market which is set for strong growth during the projection period (2017-2022).

Automotive Additives Market– Acquire in-depth insights about the global automotive additives market through Fact.MR’s detailed report covering end-use segments, market dynamics, recent material developments and prominent market players for the forecast period of 2017-2022. 

Automotive Belt Tensioner Pulley Market– Obtain Fact.MR’s exhaustive analysis on the global automotive belt tensioner pulley market spanning dynamic market factors, key trends and successful strategies of market leaders projected for 2018-2028. 

About Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the automotive sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest automotive industry market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.



11140 Rockville Pike

Suite 400

Rockville, MD 20852

United States

Email: sales@factmr.com

Web: https://www.factmr.com/

PR- https://www.factmr.com/media-release/1346/global-electric-vehicle-sound-generator-market