Stringent Pedestrian Safety Regulations Prompting Automakers to Integrate Electric Vehicle Sound Generators into Their Models.
ROCKVILLE, Md., July 4, 2024 /PRNewswire/ -- Based on a recently updated industry report published by Fact.MR, the global Electric Vehicle Sound Generators Market is poised to reach a valuation of US$ 115.5 million in 2024 and further rapidly expand at a CAGR of 18.6% from 2024 to 2034. By the end of 2034, the market is forecasted to reach a valuation of US$ 739.3 million.
As electric vehicles (EVs) continue to gain popularity worldwide, demand for electric vehicle sound generators (EVSG) is surging. These innovative devices produce artificial sounds to alert pedestrians and cyclists to the presence of approaching EVs, which are designed to operate quietly.
With an increasing number of countries mandating the use of EVSGs for safety reasons, automakers are racing to comply with regulations and integrate these systems into their EV models. The global EVSG market is projected to exhibit significant growth in the coming years, driven by the rapid adoption of EVs and the prioritization of pedestrian safety.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=4569
Leading EVSG manufacturers are continuously enhancing their products, offering customizable sounds, adjustable volumes, and directional audio capabilities. As autonomous vehicles become more prevalent, EVSGs are projected to play a crucial role in ensuring the safety of pedestrians and cyclists in urban environments.
Growing demand for EVSGs is a testament to the automotive industry's commitment to innovation and safety, paving the way for a future where electric mobility coexists harmoniously with other road users.
Key Takeaways from the EVSG Market Study:
- The Japan and South Korea markets are analyzed to expand at CAGRs of 18% and 19.7%, respectively, from 2024 to 2034.
- The market in Mexico is forecasted to expand at a CAGR of 20.9% through 2034, while the United States is evaluated to hold a share of 77.2% in the North American region by 2034.
- The East Asia EV sound generator market is projected to expand at a CAGR of 19.3% through 2034.
- Based on sales channel, the aftermarket segment is estimated to reach a market valuation of US$ 25.4 million in 2024.
- The North American market is calculated to climb to a value of US$ 276.4 million by the end of 2034.
"Manufacturers of electric vehicle sound generators are focusing on enhancing their products by offering customizable sounds, adjustable volumes, and directional audio capabilities, catering to evolving regulatory requirements," says a Fact.MR analyst.
Electric Vehicle Sound Generators Industry News:
Businesses in the sector have contributed significantly to the growth of the electric vehicle (EV) industry and other sectors. Important participants in the market for electric vehicle sound generators are developing lighter, more environmentally friendly models that consume less energy, and adjusting to new industry trends like charging cords and connectors. In the upcoming years, market participants will be well-positioned to create a market in this business environment by collaborating with EV enterprises.
In this updated market analysis, Fact.MR offers comprehensive details on major global electric car sound generator manufacturers' pricing points, sales growth, manufacturing capacity, and speculative technological expansion.
Growing Demand for Customizable Sound Profiles for Personalized Experiences
One of the latest developments is the integration of directional sound capabilities, enabling EVSGs to emit sounds that assist pedestrians in identifying the direction of an approaching vehicle. Furthermore, manufacturers are exploring the utilization of artificial intelligence and machine learning algorithms to adapt sound patterns based on real-time traffic and environmental conditions.
Another significant advancement is the incorporation of customizable sound profiles, empowering automakers to craft unique audio signatures that mirror their brand identity. Certain EVSGs even offer interactive functionalities, allowing drivers to personalize the sounds or adjust them according to different driving modes.
As demand for EVs continues to surge, these cutting-edge innovations in the market are leading the way toward a safer and more immersive electric mobility experience for all road users.
Leading Players Driving Innovation in the Electric Vehicle Sound Generator Market:
- Delphi Technology
- Denso Corporation
- Continental AG
- Harman International
- Nissan Motor Company Ltd.
- Tesla Inc.
- Daimler AG
- Volkswagen AG
- KUFATEC GmbH.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=S&rep_id=4569
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the electric vehicle sound generator market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (bass sound generators, treble sound generators), type (hardware devices, software systems), vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles), and sales channel (OEMs, aftermarket), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
Check out More Related Studies Published by Fact.MR Research:
Electric Vehicle (EV) Battery Market is projected to expand at a prolific CAGR of 18.5% and reach a valuation of US$ 347 billion by 2033, up from US$ 63.55 billion in 2023.
Hybrid Electric Vehicles Market size is anticipated to showcase a stellar growth trajectory registering a CAGR of over 14% over the forecast period 2021-2031.
Off-Road Vehicle Shock Absorber Market valued at US$ 1.25 billion in 2022, is projected to grow at a 5.5% CAGR, reaching US$ 2.27 billion by 2033.
Europe Refuse Compactor Vehicle Market is expected to reach US$ 98.5 million in 2023 and grow at a 4.1% CAGR, reaching US$ 147 million by 2033.
Vehicle Access Control Market valued at US$ 10 billion in 2023, is forecasted to achieve US$ 25 billion by 2033, with a robust compound annual growth rate (CAGR) of 9.6% over the forecast period.
Lavatory Service Vehicles Market for electric and non-electric vehicle segments show promising growth in the lavatory service vehicles market, collectively accounting for an estimated 89% share of the global market.
Wheelchair Accessible Vehicles Market is valued at US$ 1.9 billion in 2023 and is projected to reach US$ 2.8 billion by the end of 2033.
Vehicle Wash Systems Market was valued at US$ 3.91 billion in 2024 and is expected to grow at a CAGR of 6.2%, reaching US$ 7.14 billion by the end of 2034.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
Contact:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
View original content:https://www.prnewswire.co.uk/news-releases/electric-vehicle-sound-generators-market-set-to-expand-at-18-6-cagr-reaching-usd-739-3-million-by-2034-factmr-302189598.html
