The Electric Vehicle Sound Generator System Market is expected to grow from USD 34 billion in 2020 to USD 214 billion by 2026 at a CAGR of 24% from 2020 to 2026.
Electric vehicle sound generator systems generate artificial sound to alarm pedestrians regarding the presence of electric vehicle and hybrid vehicles. Electric vehicle sound generators allow pedestrians to identify silent electric vehicles. A significant part of the demand emerges from original equipment manufacturers' due to the government rules and regulation. Due to the characteristic of the electronic devices used in various types of electric vehicles such as BHEV, BEV and HEV, the sound they make is lesser or even negligible, particularly when they are driving vehicle at a low speed of less than 20 KM per hour. Various potential participants are establishing new partnerships and strategic cooperation with original equipment manufacturers, which increase the bet on new technologies in the electric vehicle sound generator market. Furthermore, the auto parts suppliers are emphasizing on launching technologies which enable automakers to incorporate custom sound generators. This development has strengthened the intensity of competition in the electric vehicle sound generator systems market. Increase in the trend of electrification of the transportation industry is a major propeller for the growth of the electric vehicle sound generator systems market. OEMs specifically of passenger vehicles have been obtaining large revenue gains. The strict enforcement of government regulations concerning to safety of electric vehicles’ operation has surged the demand for sound generator systems across automakers. In addition, the rising aftermarket sales in some of the developed countries, such as in Japan and the U.S., has also boosted the prospects of the electric vehicle sound generator systems market. Moreover, the surging demand for electric passenger cars is also the most vital factor projected to drive the demand for electric vehicle sound generator systems. Equipment of advanced sound generators in new electric vehicles, especially in hybrids ones, is fueling the growth of the electric vehicle sound generator systems market. Among all the segments, OEMs have been tapping huge revenue gains in recent years. On the other hand, the factors such as high cost of electric vehicles and sluggish penetration of them will majorly impede the electric vehicle sound generator systems market growth.
Growing number of battery-powered light commercial vehicles has fueled the prospects in the EV sound generators market. Growing number of financial initiative by governments from time to time has added momentum to the overall market expansion.
The global Electric Vehicle Sound Generator System Market is segregated on the basis of Type as Hardware Devices and Software System. Based on Application the global Electric Vehicle Sound Generator System Market is segmented in Electric Vehicle and Hybrid Vehicles. Based on Sales Channel the global Electric Vehicle Sound Generator System Market is segmented in Original Equipment Manufacturer (OEM) and Aftermarket.
The global Electric Vehicle Sound Generator System Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Electric Vehicle Sound Generator System Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Delphi Technologies, Denso Corporation, Continental AG, Denso Corporation and others are among the major players in the global Electric Vehicle Sound Generator System Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Electric Vehicle Sound Generator System Market has been segmented as below:
Electric Vehicle Sound Generator System Market, By Type
Electric Vehicle Sound Generator System Market, By Application
Electric Vehicle Sound Generator System Market, By Sales Channel
Electric Vehicle Sound Generator System Market, By Region
Electric Vehicle Sound Generator System Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Electric Vehicle Sound Generator System Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Electric Vehicle Sound Generator System Market share. Major industry players with significant revenue share include Delphi Technologies, Denso Corporation, Continental AG, Denso Corporation, HARMAN International and others.
Why to Buy this Report:
Target Audience:
Free and Paid Customization based on the requirement
1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Electric Vehicle Sound Generator System Market, By Type
5.1. Key Points
5.2. Hardware Devices
5.3. Software System
6. Electric Vehicle Sound Generator System Market, By Application
6.1. Key Points
6.2. Electric Vehicle
6.3. Hybrid Vehicles
7. Electric Vehicle Sound Generator System Market, By Sales Channel
7.1. Key Points
7.2. Original Equipment Manufacturer (OEM)
7.3. Aftermarket
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- Electric Vehicle Sound Generator System Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Delphi Technologies
9.2. Denso Corporation
9.3. Continental AG
9.4. Denso Corporation
9.5. HARMAN International
9.6. Nissan Motor Company Ltd.
9.7. Tesla Inc.
9.8. Daimler AG
9.9. Volkswagen AG
9.10. KUFATEC GmbH & Co. KG
9.11. Kendrion N.V.
9.12. Sound Racer
9.13. BMW AG
9.14. Honda Motor Co., Ltd.
9.15. Mando-Hella Electronics Corp.
Electric Vehicle Sound Generator System Market, By Type
Electric Vehicle Sound Generator System Market, By Application
Electric Vehicle Sound Generator System Market, By Sales Channel
Electric Vehicle Sound Generator System Market, By Company