Global Electric Vehicle Sound Generator Market is valued at USD 100.21 Million in 2021 and is expected to reach USD 268.2 Million by 2028 with a CAGR of 15.10% over the forecast period.
OEMs are making sure that their goods match the prestige, class, as well as comfort of any luxury car. Regarding conventional vehicles, firms are providing techs that muffle and shape the sound of the exhaust; while on the other hand, OEMs depend on designing a unique sound of emission for their cars that acts as their sign.
It is essential to note that EVs (electric vehicles) have enhanced considerably over past years, due in part to dropping battery prices. Still, EVs stay pricy as compared to gasoline-based cars over their entire life. EV sound generators allow people to identify almost-silent hybrid and electric vehicles, permitting automakers to meet worldwide governmental safety rules for EV/HEVs.
In case of vehicle type, passenger vehicles have ruled the global market, and have noteworthy market valuation. Regarding sales channel, OEMs are profitable. Moreover, the OEM section is expected to grow at a high value during the coming period. Japan is expected to be a substantial area and is predicted to highly add to the development of the global market in the years to come.
The major players included in the global electric vehicle sound generator market forecast are,
The requirement for EVs is an essential aspect powering the acceptance of electric vehicle sound generators. Regarding conventional vehicles, EVs provide different benefits such as decreased noise generation, zero-emission of harmful gases, and improved fuel efficiency. Moreover, the development of EVs is supported by governments of different areas that are striving and taking initiatives to lower air pollution by making laws related to the employment of conventional cars. They are also motivating the acceptance of hybrid cars by providing different subsidies and incentives to users of such cars. For example, the Chinese government provides a subsidy of US$ 6,750–14,000 to users on each purchase of electric or hybrid vehicle relying on the battery pack size.
OEMs are making sure that their goods match the prestige, class, as well as comfort of any luxury car. Regarding conventional vehicles, firms are providing techs that muffle and shape the sound of the exhaust; while on the other hand, OEMs depend on designing a unique sound of emission for their cars that acts as their sign. Aforesaid trend is outstanding in premium, luxury, and sports sections of vehicles. Moreover, requirement for these techs is solid in the aftermarket. Acoustic comfort is an upcoming hotspot in EVs, which can power the development of the electric vehicle sound generator market as users choosing big brands such as Mercedes, Tesla, Audi, and Toyota are looking for appealing and futuristic sounds.
The global electric vehicle sound generator market will see a noteworthy development. The most obvious advantage of adding sounds for EVs is security. Government in the US has requested automakers to obey new laws obliging external EV sound signatures, and there are same laws in Japan and Europe. Hence, the global electric vehicle sound generator market for OEM seems promising, majorly powered by Japan and North America. Apart from this, prices of EVs and battery costs are dropping. If these trends sustain, EVs will be cost-competitive with gasoline cars over their duration, making sure solid development potential for the electric vehicle sound generator market.
|Historical data||2018 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 100.21 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||15.1%|
|Market Size Expected in 2028:||USD 268.2 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Denso Corporation, Delphi Technologies, Denso Corporation, Continental AG, Nissan Motor Company Ltd., HARMAN International, Daimler AG, Tesla Inc., KUFATEC GmbH & Co. KG, Volkswagen AG, Sound Racer, Kendrion N.V., Honda Motor Co., BMW AG, Mando-Hella Electronics Corp.|
|Segments Covered||By Produc, By Application, End User.|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Afric|