Persistence Market Research has announced the addition of the “Electric Vehicle Sound Generator Market: Global Industry Analysis and Forecast 2017 - 2025" report to their offering.
New York, NY -- (SBWIRE) -- 11/30/2017 -- Over the past few decades, the global automotive industry has struggled to eradicate the most important after effect of on-road vehicles, i.e. 'pollution'. The industry came out with an efficient solution for this problem through the commercialization of electric, hybrid and plug-in hybrid electric vehicles. Presently, OEMs and governments across various countries are struggling to promote the adoption of these vehicles among end-users. However, despite robustly growing electric vehicle sales, the market has also witnessed some significant challenges from various institutions. One such burning issue is the 'silence' of electric vehicles – electric vehicles operate silently and thus reduce noise pollution. However, the silent operation of EVs has raised questions regarding the safety of pedestrians, blind people and cyclists on roads. This has brought the 'electric vehicle sound detector' in limelight as an important part of electric vehicles. The electric vehicle sound generator is a small device that can be mounted under the hood and generates a high-fidelity sound. The engine sound, produced by a module, depends on the driving speed as well as the position of the accelerator. The electric vehicle sound generator market is anticipated to create significant growth opportunities over the forecast period, particularly in North America and Europe. This can be attributed to the emergence of regulations and norms which are expected to mandate the deployment of electric vehicle sound generator as a safety component in electric vehicles. The long-term outlook for the global electric vehicle sound generator market is expected to remain positive.
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Global Electric Vehicle Sound Generator Market: Market Dynamics
It is expected that synthetic engine noise generation for improving the safety of electric vehicles will emerge as a prominent area of research over the forecast period. Growing concerns in masses regarding road safety due to the introduction of new technologies such as autonomous vehicles, silent electric and fuel cell vehicles is urging institutions to bring out regulations to ensure safety of pedestrians and others on the road. This leading factor is expected to drive the growth of the electric vehicle sound generator market. Furthermore, being in the introductory phase of the product life cycle, product innovations and development of customized solutions are expected to supplement market growth over the forecast period. However, adoption of electric vehicle sound generators is slow in developing economies, primarily due to the absence of regulations. This is expected to hamper market growth in these regions. Thus, higher growth rates are expected only in developed parts of North America and Europe; rest of the world is expected to witness moderate growth in adoption over the forecast period.
Global Electric Vehicle Sound Generator Market: Market Segmentation
On the basis of vehicle type, the global electric vehicle sound generator market can be segmented into:
Electric passenger cars
Electric commercial vehicles
On the basis of sales channel, the global electric vehicle sound generator market can be segmented into:
Global Electric Vehicle Sound Generator Market: Region-Wise Outlook
North America is a prominent market for the electric vehicle sound generator, particularly due to the 2013 Federal Motor Vehicle Safety Standard No. 141 proposed by the National Highway Transportation Safety Administration. It sets a minimum standard for electric vehicle noise and is mandated by the PSEA (Pedestrian Safety Enhancement Act of 2010). Second to North America, Europe is the next big market with respect to adoption of these electric vehicle sound generators. Over the forecast period, Asia Pacific is anticipated to emerge as the largest market for electric vehicle sound generators – owing to high volume sales of electric vehicles in the region. Asia Pacific is estimated to dominate the aftermarket demand for electric vehicle sound generators, out of which China will hold a dominant share. India and ASEAN countries are expected to emerge as lucrative markets for electric vehicle sound generator systems by the end of the forecast period.
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Global Electric Vehicle Sound Generator Market: Market Participants
Some of the market participants identified in the global electric vehicle Sound Generator market are:
Continental Engineering Services
Delphi Automotive PLC
Mando-Hella Electronics Group
HARMAN International (HALSonic)