Acoustic Vehicle Alerting System Market Size by Propulsion Type, Vehicle Type, Sales Channel, Region – Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2030
Overview
Acoustic Vehicle Alerting System Market size was valued at USD 1.07 Billion in 2023 and the total Acoustic Vehicle Alerting System Market revenue is expected to grow at a CAGR of 12.7% from 2024 to 2030, reaching nearly USD 2.47 Billion by 2030.
Acoustic Vehicle Alerting System Market Overview
Acoustic vehicle alerting system is a sound generating device assembled in electric or hybrid vehicle which emits lower level of sound than the conventional vehicle. This system produces sound when electric vehicle is running at a slow speed and helps to warn pedestrians or other commuters near the vehicle’s presence, so this system is developed to reduce the risk of accidents.
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Acoustic Vehicle Alerting System Market: Market Dynamics
The vehicles pollute the environment due to carbon emission and the electric vehicles is promising to address climate change lowering the carbon emission, is a factor which increases the demand for electric vehicles resulting into the demand of acoustic vehicle alerting system. Government mandated the installation of acoustic vehicle alerting systems in the new models of hybrid and electric vehicles which propel the acoustic vehicle alerting system market. Increasing awareness about safety of vehicle while driving is likely to anticipate the growth of the market in near future.
Higher installation and maintenance cost of acoustic vehicle alerting system hinder the growth of the market. Lack of adoption of electric vehicles in developing nations due to poor roads infrastructure adversely affect the global acoustic vehicle alerting system market. However, alternative options are available to this system likely to slow down the sale of AVAS over estimated period.
Acoustic Vehicle Alerting System Market Segmentation
Based on Vehicle Type, the passenger vehicles segment dominated the market in 2023 due to growing ongoing improvements in battery technology, charging infrastructure, and electric drivetrains for achieving longer driving ranges, faster charging times, and better overall performance of electric passenger vehicles. Many corporations and fleet operators have been adopting EVs as part of their sustainability initiatives, contributing to the overall growth of the electric passenger vehicle market. As the demand for electric passenger vehicles increases, so as the demand for this technology. The demand for commercial vehicles and two-wheelers is also increasing. Adopting electric trucks and buses for commercial purposes is propelling the market growth. Also, the introduction of new electric two-wheelers is gaining traction in the market.
Acoustic Vehicle Alerting System Market Regional Analysis
North Americas dominating the global acoustic vehicle alerting system market due to adoption of advanced technology. The significant growth of automotive sector and improving the infrastructure of emerging nation propel the demand of acoustic vehicle alerting system. Increasing awareness about traffic pollution and initiative taken by several government for the adoption of electric vehicle in this region. In addition, US government mandate the installation of AVAS in new model of electric vehicle, increases the sales in this region. On country level, China is focusing on introducing the acoustic vehicle alerting system in electric vehicles.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Acoustic Vehicle Alerting System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Acoustic Vehicle Alerting System Market dynamics, structure by analysing the market segments and project Global Acoustic Vehicle Alerting System Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Acoustic Vehicle Alerting System Market make the report investor’s guide.
Acoustic Vehicle Alerting System Market, Key Highlights:
• Global market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global market
• Global market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global market are also profiled.
Acoustic Vehicle Alerting System Industry Ecosystem
Acoustic Vehicle Alerting System Market Scope: Inquire before buying
| Global Acoustic Vehicle Alerting System Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 1.07 Bn |
| Forecast Period 2024 to 2030 CAGR: | 12.7% | Market Size in 2030: | USD 2.47 Bn |
| Segments Covered: | by Propulsion Type | BEV PHEV FCEV |
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| by Vehicle Type | Two-Wheeler Commercial Vehicle Passenger Vehicle |
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| by Sales Channel | OEM Aftermarket |
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Acoustic Vehicle Alerting System Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Acoustic Vehicle Alerting System Market Key Players
1. Delphi Technologies
2. HARMAN International
3. Continental AG
4. Bosh Engineering
5. Daimler AG
6. Nissan Motor Company Ltd.
7. BMW AG
8. Mando-Hella Electronics Corporation
9. Kufatec GmbH & Co. KG
10. Denso Corporation
11. Sound Racer
12. Honda Motor Co., Ltd.
13. Tesla Inc.
14. Kendrion N.V.
15. Aptiv
16. Brigade Electronics
17. Texas Instruments
18. Jaguar Land Rover Automotive PLC
19. Kendrion N.V.
20. Kufatec GmbH & Co. Kg
21. Mando-Hella Electronics Corp
22. Mercedes-Benz
23. Novosim Mühendislik
24. Samsung Electronics Co. Ltd.
25. Sound Racer EVS
26. Volkswagen AG
Frequently Asked Questions:
1. Which region has the largest share in Global market?
Ans: The Asia-Pacific region held the highest share in 2023.
2. What is the growth rate of Global market?
Ans: The Global market is growing at a CAGR of 12.7% during forecasting period 2024-2030.
3. What is scope of the Global market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global market?
Ans: The important key players in the Global market are – Delphi Technologies, HARMAN International, Continental AG, Bosh Engineering, Daimler AG, Nissan Motor Company Ltd., BMW AG, Mando-Hella Electronics Corporation, Kufatec GmbH & Co. KG, Denso Corporation, Sound Racer, Honda Motor Co., Ltd., Tesla Inc., Kendrion N.V., Aptiv, Brigade Electronics, Texas Instruments, Jaguar Land Rover Automotive PLC, Kendrion N.V., Kufatec GmbH & Co. Kg, Mando-Hella Electronics Corp, Mercedes-Benz, Novosim Mühendislik, Samsung Electronics Co. Ltd., Sound Racer EVS, and Volkswagen AG
5. What is the study period of this Market?
Ans: The Global market is studied from 2018 to 2030.