Professional Survey of Electric Vehicle Sound Generators: Increased Demand to be Witnessed from Electric Golf Carts, Quadricycles, and Other NEVs in the Coming Years

Press Release – 04 Jan 2019

Research and Development News --

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Latest Update "Global Market Study on Electric Vehicle Sound Generators: Increased Demand to be Witnessed from Electric Golf Carts, Quadricycles, and Other NEVs in the Coming Years" with Industries Survey | Global Current Growth and Future.

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A new enticing study on Electric Vehicle Sound Generators which speaks about latest trends, developments and opportunities in the global market. It also emphasizes on the future market scenario by including forecast analysis for a period of eight years, from 2017 till 2025. The research study covers various drivers and challenges that are influencing the growth of the global electric vehicle sound generator market and their respective magnitudes across regions. In the dynamically changing scenario, according to us, the global electric vehicle sound generator market is expected to grow at a meteoric value CAGR of 26.3% throughout the period of forecast.

The global market for electric vehicle sound generators was valued at about US$ 33 Mn in 2017 and is estimated to touch a valuation of more than US$ 214 Mn by the end of the assessment period. Increasing sales of electric vehicles, low product price, favorable regulations and low noise generation are few of the factors expected to trigger the sales of electric vehicle sound generators across various vehicle types and regions in the globe.

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The growth of the global electric vehicle sound generator market is also influenced by the automotive component industry. As per our analysis, global automotive component market is expected to rise at a healthy rate in the coming years owing to increasing demand for light weight vehicles (for efficient fuel consumption and operating efficiency).

“Passenger cars to account for a major chunk in the global electric vehicle sound generator market”

The use of electric vehicle sound generators has been largely observed in passenger cars since past several years. The volume of passenger vehicles using electric vehicle sound generators is increasing at an exponential rate and is expected to continue to rise in the coming years. The passenger cars segment is highly lucrative segment and is being tapped by players involved in electric vehicle sound generators.

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“LCVs to significantly push the sales of electric vehicle sound generators in the coming years”

Light commercial vehicle (LCV) segment is anticipated to trigger seals of sound generators during the forecast period. This segment is the second largest with respect to market share and value. It is also projected to expand at a substantial growth rate with respect to volume during the assessment period.

Real time analysis has increased the weightage of the research giving an all-inclusive angle to the market study which assists the viewers in chalking important corporate strategies pertaining to price, place and promotion along with regional forecasts.

Market Segmentation

By Vehicle Type

- Passenger Cars

- Light Commercial Vehicles (LCV)

- Heavy Commercial Vehicles (HCV)

- Others (Electric Golf Carts, Quadricycles, Other NEVs)

By Sales Channel

- OEM

- Aftermarket

By Region

- North America

- Latin America

- Japan

- Europe

- Asia Pacific Excluding Japan (APEJ)

- Middle East and Africa (MEA)

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