In-vehicle Acoustic Sound Generator Market: Introduction
- Rise in preference toward electric vehicles among consumers across the globe is a prominent factor boosting the global in-vehicle acoustic sound generator market. In-vehicle acoustic generators are usually adopted in hybrid, electric, and plug-in hybrid vehicles, as these vehicles create very low sound during operation. The in-vehicle acoustic sound generators produce sound in order to alert the nearby cyclists, pedestrians, visually impaired individuals, and other road users about the vehicle’s presence.
Key Drivers of In-vehicle Acoustic Sound Generator Market
- Enactment of regulations pertaining mandatory installment of acoustic sound generator in vehicles is expected to drive the global in-vehicle acoustic sound generator market. For instance, the U.S. government has asked automakers to comply with new regulations mandating installment of electric vehicle acoustic generator by 2020. Moreover, similar regulations are being enacted across Europe and Japan. This, in turn, is offering lucrative opportunity for OEM players engaged in the in-vehicle acoustic sound generator market across the globe.
- According to Bloomberg New Energy Finance (BNEF), over 500 different electric vehicle models are expected to be available globally by 2022. Additionally, major strategies adopted by automakers such as investments & expansions, contracts & agreements, and new product launches, mergers & acquisitions have emerged as a key strategy among key players, as companies look to strengthen their service offerings in terms of electric vehicles and expand geographic market reach by offering their products.
- According to a report published by Bloomberg New Energy Finance (BNEF), electric vehicles are expected to contribute to around 10% of global passenger vehicle sales by 2025, which is estimated to increase to 28% in 2030 and 58% in 2040. The adoption of in-vehicle acoustic sound generator in electric vehicles is expected to offer lucrative opportunity to OEMs during the forecast period.
Europe to account for prominent share of global in-vehicle acoustic sound generator market
- In terms of region, the global in-vehicle acoustic sound generator market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
- Asia Pacific is expected to account for a major share of the global in-vehicle acoustic sound generator market owing to increase in trend toward electric vehicles among consumers across the region. Additionally, government organizations across countries in Asia Pacific are providing various subsidies for consumers to purchase electric vehicles. For instance, the Government of China provides a subsidy of US$ 6,750 to US$ 14,000 to consumers on purchase of electric or hybrid vehicles; subsequently, the sale of electric passenger vehicles has increased significantly in the last couple of years. Sales of EVs are expected to continue to increase during the forecast period across Asia Pacific, thereby fueling the in-vehicle acoustic sound generator market across Asia Pacific.
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Key Players Operating in In-vehicle Acoustic Sound Generator Market
The global in-vehicle acoustic sound generator market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global in-vehicle acoustic sound generator market are:
- BMW AG
- Brigade Electronics
- Continental AG
- Daimler AG
- Delphi Technologies
- Denso Corporation
- Harman International
- Honda Motor Co., Ltd.
- Kendrion N.V.
- Kufatec GmbH & Co. Kg
- Mando-Hella Electronics Corp.
- Nissan Motor Company Ltd.
- Sound Racer
- Tesla Inc.
- Texas Instruments
- Volkswagen AG
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Global In-vehicle Acoustic Sound Generator Market: Research Scope
Global In-vehicle Acoustic Sound Generator Market, by Vehicle Type
- Passenger Vehicles
- Commercial Vehicle
Global In-vehicle Acoustic Sound Generator Market, by Electric Vehicle Type
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
Global In-vehicle Acoustic Sound Generator Market, by Product Type
- Treble Sound Generator
- Bass Sound Generator
Global In-vehicle Acoustic Sound Generator Market, by Sales Channel
Global In-vehicle Acoustic Sound Generator Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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