Electric Vehicle Sound Generators Market is anticipated to reach US$ 236.76 Mn by 2029 from US$ 94.61 Mn in 2022 at a CAGR of 14% during a forecast period. In Electric vehicles, the only minor whistling sound is noticeable, which is possibly confusing for other road operators. Thus, there is a risk of silent electric cars causing accidents by not paying attention. To avoid any accidents, new EU legislation came into effect on July 1st, 2022. Thus, the government in the U.S. has mandated carmakers to adopt new regulations for EV sound signatures by 2022, and there are similar regulations in Europe and Japan. Therefore, the global market for electric vehicle sound generators for OEM appears promising, mainly driven by Europe, North America, and Japan.To know about the Research Methodology :- Request Free Sample Report
Electric Vehicle Sound Generators Market Dynamics:
The increasing demand for electric vehicles is a key aspect that driving the growth of the electric vehicle sound generator market. Electric vehicles are expected to become more mainstream during the forecast period (2023-2029) as it is gaining a reputation as a superior and more environment-friendly mode of transportation. Thus, compared with traditional cars, electric cars have benefits zero emission of harmful gases, reduced noise, and improved fuel efficiency. In addition, Governments are incentivizing the use of electric vehicles with a variety of financial and non-financial benefits, including discounts and tax exemptions. For example, the Chinese government offers a subsidy of US$ 6,750 to US$ 14,000 to customers on every purchase of hybrid or electric vehicles. Electric vehicles are expected to reach a market size of 726 billion U.S. dollars by 2029. Due to improved range, battery life, and affordability, electric vehicles have become a much more appealing option for customers. EVs have dominated the automotive markets of northern European, and Asian countries, with sales in China forecast to hit 3.7 million by 2029. However, Norway now has the highest proportion of electric vehicles in its fleet, accounting for the bulk of new registrations in 2022. Electric vehicles are common in Norway, due to the government's strong subsidies, but also to the abundance of charging stations. With so many countries committed to the adoption of electric vehicles, it looks set to dominate electric vehicles sound generators during the forecast period. Europe registered 1.4 million units of electric vehicles in 2022. Where Germany is the largest market of EVS in Europe, which registered 295 000 new electric vehicles. China the largest market in the Asia Pacific registered 1.2 million units of electric vehicles, while the United Kingdom registered 176 000 electric vehicles. In 2022, the biggest EVs sales share is Norway with a record of 75% market share, followed by 50% in Iceland and 30% in Sweden. Thus, the growth in the electric vehicle is expected to drive the growth of the electric vehicle sound generator market during the forecast period (2023-2029) Restraints: higher electric vehicle costs and reduced charging station capacity are expected to hinder the electric vehicle sound generators market during the forecast period. Thus, due to the high cost of electric vehicles, there is a lack of acceptance of electric sound generators in many developing countries.Electric Vehicle Sound Generators Market Segmentation Analysis:
By Vehicle Type, the passenger vehicles segment accounts for the largest share of xx% in the market due to an increase in the sale of passenger vehicles and technological advancement in vehicles of developed countries. The growing interest of consumers towards safety, premium, luxury, and comfortable vehicles is expected to drive the growth of the passenger vehicles segment during the forecast period. The United States dominates the market for passenger cars segment accounting for 27 % of the global sales in 2022. Of all the regional markets, Asia Pacific has seen a remarkable rise in electric vehicles, especially in India and China. Further, governments support for adopting EVs in the transportation industry has fueled the demand for sound generator mechanisms for passenger vehicles. Globally, 56 million passenger vehicles were in 2022, down 11.7 percent from the previous year. China was the world's largest regional market for vehicles in 2022, with over 20 million units sold those accounts for 38.33% of the world's car sales. Where Japan, the United States of America, Germany, and India account for 62.19% world's total passenger car sales.By Sales Channel, the OEM segment held the largest share of xx% in 2022. the growth of the segment is due to governments regulations for the installation of electric vehicle sound generators in all new electric & hybrid vehicles. Thus, several key players are focusing on new product developments to gain a stronghold in the EV sound generators market. This creates lucrative opportunities for the original equipment manufacturers of electric vehicle sound generators. In addition, demand for the sound generator in electric vehicles is strong in the aftermarket. Acoustic comfort is a future hotspot in electric vehicles, which can drive the growth of the electric vehicle sound generator market as customers are opting for big brands like Tesla, Mercedes, Toyota, and Audi are looking for appealing sounds.
Electric Vehicle Sound Generators Market Regional Insights:
The Asia Pacific dominated the electric vehicle sound generators market and held 60% of the market share in 2022. The region is expected to grow at a 15% CAGR during the forecast period. The countries of Asia Pacific like Japan & China which are the largest electric automotive manufacturing countries in the world are expected to hold a maximum share in the global electric sound generator market. In addition, the government's efforts for the adoption of electric vehicles in the region boost the sound generator for electric vehicles. Similarly, the region's growth can be traced to the Chinese market's dominance as well as the global presence of leading OEMs such as BYD, Yutong, Zhongtong, and Ankai resulting in the exponential growth of the electric vehicle sound generators market. North America is expected to register xx% of the market share in 2022. In addition, the governor of California's target of meeting 1.5 million zero-emission cars by 2029 is adding to regional demand. In Norway, by 2029 100% of car sales are expected to be electric., and thus no traditional vehicles are expected to run on roads. The objective of the report is to present a comprehensive analysis of the Electric Vehicle Sound Generators Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Electric Vehicle Sound Generators Market dynamics, structure by analyzing the market segments and project the Electric Vehicle Sound Generators Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Electric Vehicle Sound Generators Market make the report investor’s guide.Electric Vehicle Sound Generators Market Scope: Inquire before buying
Electric Vehicle Sound Generators Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 94.61 Mn. Forecast Period 2023 to 2029 CAGR: 14% Market Size in 2029: US $ 236.76 Mn. Segments Covered: by Vehicle Type • Passenger Vehicles • LCVs • HCVs • Others by Sales Channel • OEM • Aftermarket Electric Vehicle Sound Generators Market, by Region:
• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)Electric Vehicle Sound Generators Market: Key Players
• Delphi • Denso • Continental • Denso • Harman • Nissan Motor • Tesla • Daimler • Volkswagen • Kufatec GmbH • Kendrion • Sound Racer • BMW • Honda Motor • Mando-HellaFrequently Asked Questions
1. What is the projected market size & growth rate of Electric Vehicle Sound Generators Market? Ans- Electric Vehicle Sound Generators Market was valued at USD 94.61 million in 2022 and is projected to reach USD 236.76 million by 2029, growing at a CAGR of 14% during the forecast period. 2. What is the key driving factor for the growth of Electric Vehicle Sound Generators Market? Ans- the growth in the electric vehicle is expected to drive the growth of the electric vehicle sound generator market during the forecast period (2023-2029). 3. Which Region accounted for the largest Electric Vehicle Sound Generators Market share? Ans- The Asia Pacific dominated the electric vehicle sound generators market and held 60% of the market share in 2022. 4. What makes North America a Lucrative Market for Electric Vehicle Sound Generators Market? Ans- North America is expected to register xx% of the market share in 2022. In addition, the governor of California's target of meeting 1.5 million zero-emission cars by 2029 is adding to regional demand. 5. What are the top players operating in Electric Vehicle Sound Generators Market? Ans- Delphi, Denso, Continental, Denso, Harman, Nissan Motor, Tesla, and Daimler.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Electric Vehicle Sound Generators Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Electric Vehicle Sound Generators Market 3.4. Geographical Snapshot of the Electric Vehicle Sound Generators Market, By Manufacturer share 4. Electric Vehicle Sound Generators Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Electric Vehicle Sound Generators Market 5. Supply Side and Demand Side Indicators 6. Electric Vehicle Sound Generators Market Analysis and Forecast, 2022-2029 6.1. Global Electric Vehicle Sound Generators Market Size & Y-o-Y Growth Analysis. 7. Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Vehicle Type,2022-2029 7.1.1. Passenger Vehicles 7.1.2. LCVs 7.1.3. HCVs 7.1.4. Others 7.2. Market Size (Value) Estimates & Forecast By Sales Channel, 2022-2029 7.2.1. OEM 7.2.2. Aftermarket 8. Electric Vehicle Sound Generators Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 9.1.1. Passenger Vehicles 9.1.2. LCVs 9.1.3. HCVs 9.1.4. Others 9.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 9.2.1. OEM 9.2.2. Aftermarket 10. North America Electric Vehicle Sound Generators Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 11.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 12. Canada Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 12.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 13. Mexico Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 13.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 14. Europe Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 14.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 15. Europe Electric Vehicle Sound Generators Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 16.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 17. France Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 17.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 18. Germany Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 18.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 19. Italy Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 19.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 20. Spain Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 20.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 21. Sweden Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 21.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 22. CIS Countries Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 22.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 23. Rest of Europe Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 23.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 24. Asia Pacific Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 24.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 25. Asia Pacific Electric Vehicle Sound Generators Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 26.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 27. India Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 27.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 28. Japan Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 28.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 29. South Korea Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 29.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 30. Australia Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 30.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 31. ASEAN Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 31.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 32. Rest of Asia Pacific Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 32.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 33. Middle East Africa Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 33.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 34. Middle East Africa Electric Vehicle Sound Generators Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 35.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 36. GCC Countries Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 36.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 37. Egypt Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 37.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 38. Nigeria Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 38.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 39. Rest of ME&A Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 39.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 40. South America Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 40.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 41. South America Electric Vehicle Sound Generators Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 42.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 43. Argentina Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 43.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 44. Rest of South America Electric Vehicle Sound Generators Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Vehicle Type ,2022-2029 44.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Electric Vehicle Sound Generators Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Applications 45.2.3.2. M&A Key Players, Forward Integration and Backward Integration 45.3. Company Profile: Key Players 45.3.1. Delphi 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.4. Delphi 45.5. Denso 45.6. Continental 45.7. Denso 45.8. Harman 45.9. Nissan Motor 45.10. Tesla 45.11. Daimler 45.12. Volkswagen 45.13. Kufatec GmbH 45.14. Kendrion 45.15. Sound Racer 45.16. BMW 45.17. Honda Motor 45.18. Mando-Hella 46. Primary Key Insights