Electric Vehicle Sound Generator Market Set to Witness an Uptick during to 2029Posted by Divakar on April 26th, 2021 Surpassing a valuation of US$ 324 million, the global electric vehicle sound generator market is projected to create an absolute $ opportunity of more than US$ 241 Mn by the end of forecast period. Electric vehicle sound generators are used for external sound creation in electric & hybrid vehicles as these vehicles are quiet and thus pose a threat of accidents with pedestrians. In order to avoid such adverse situations, governments of several countries are developing & implementing new motor vehicle regulations and mandating installation of electric vehicle sound generators in all electric and hybrid vehicles. To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=4569 For instance, in July 2019, European Union developed a regulation to make use of electric vehicle sound generators compulsory in all electric and hybrid vehicles sold in the member countries of EU. In September 2019, government of China implemented new guidelines regarding use of acoustic vehicle alerting systems for electric & hybrid vehicles. Such legislations along with the increasing adoption of the electric vehicles creates humongous opportunities for the manufacturers of electric vehicle sound generators. On this premise, global electric vehicle sound generator market is projected to grow at an astounding CAGR of more than 14% between 2019 and 2029, Key Takeaways of Electric Vehicle Sound Generator Market
“Global electric vehicle sound generator market will create enormous opportunities as governments of several countries are introducing new motor vehicle regulations to make compulsory use of electric vehicle sound generators, and at the same time increasing the adoption of electrical vehicles.”- Says the Fact.MR’s analyst. Manufacturers Focusing on Expansion of their Product Portfolio Global electric vehicle sound generator market is highly competitive with few players accumulating majority of the share. Manufacturers are developing new products in order to increase their reach and maintain their position in the market. For instance, in September 2019, Kia Motors launched two hybrid vehicles XCeed and Ceed Sports-Wagon with its new virtual engine sound system. More Valuable Insights on the Electric Vehicle Sound Generator Market: Fact.MR, in its new offering, has presented an unbiased analysis of the global electric vehicle sound generator market, presenting historical demand data (2013-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the electric vehicle sound generator market on the basis of vehicle type and sales channel across seven major regions. Interested to Procure The Data? Inquire here at – http://www.globenewswire.com/en/news-release/2020/03/25/2006286/0/en/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.html Like it? Share it!More by this author |