Electric Vehicle Sound Generator Market: Impact of Existing and Emerging Market 2017 - 2025
New York, NY -- (SBWire) -- 06/12/2017 --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.
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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 Participants
Some of the market participants identified in the global electric vehicle Sound Generator market are: Kendrion, Continental Engineering Services, Delphi Automotive PLC, Mando-Hella Electronics Group, HARMAN International (HALSonic).
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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.
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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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