Global Acoustic Vehicle Alerting System Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 32.88% from 2019 to 2027, reaching nearly US$ XX Bn.
The report study has analysed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Acoustic Vehicle Alerting System Market: 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.
Global 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 vehiclesresulting into the demand of acoustic vehicle alerting system.Governmentmandated 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.
Global Acoustic Vehicle Alerting System Market: Market Segmentation
The battery electric vehicleis highly in demand due to its features such as zero emission, no pollution, so this segment is expected to grow with the highest CAGR during the forecast period. The plug-in hybrid vehicle segment is the fastest growing segment as it uses advanced technology as it recharges the vehicle by means of plug-in connection at charging platform. The OEM segment of sales channel is highly lucrative as automakers are focusing on adoption of electric vehicles to lower the pollution rate which is caused by CO2 emission. The integrated segment is subjected to highest growth rate after the introduction of ECU in the new vehicle environment.
Global Acoustic Vehicle Alerting System Market: Regional Analysis
North Americais 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.
Scope of Global Acoustic Vehicle Alerting System Market
Global Acoustic Vehicle Alerting System Market, by Installation
• Separated
• Integrated
Global Acoustic Vehicle Alerting System Market, by Vehicle
• Plug-in Hybrid electric vehicle
• Full cell electric vehicle
• Battery electric vehicle
Global Acoustic Vehicle Alerting System Market, by Sales Channel
• OEM
• Aftermarket
Global Acoustic Vehicle Alerting System Market, by Region
• Asia Pacific
India
China
Japan
South Korea
Australia
Indonesia
Malaysia
Vietnam
Rest of Asia
• North America
U.S.
Canada
• Europe
U.K
Germany
France
Russia
Spain
Italy
Sweden
• South America
Mexico
Brazil
Rest of South America
• Middle East & Africa
GCC
South Africa
Rest of MEA
Global Acoustic Vehicle Alerting System Market, Key Players
• 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
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According to Market Research Future (MRFR), The global Acoustic Vehicle Alerting System Market is estimated to witness a CAGR of 12% from 2019 to 2025 (forecast period).
The report discusses the strengths, opportunities, threats, and potential business risks and offers a detailed analysis of the global market situation with the effect of COVID-19.The Acoustic Vehicle Alerting System (AVAS) is a sound generation device for electric vehicles and hybrid electric vehicles.
The noise frequency/level emitted by the EV is very different from that generated by the internal combustion engine (ICE) vehicle.
In addition, the increasing number of electric vehicles on the road increases the possible danger of silent vehicles for pedestrians, cyclists, and the general population.Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/8161Market DynamicsThe growth of the global Acoustic Vehicle Alerting System Market Size can mainly be attributed to the strict regulations imposed by governments across the globe to curb the risk of accidents induced by electric vehicles' low sound.
For example, the European Union has a new regulation requiring all new electric and hybrid vehicles to alert pedestrians when traveling at speed below 12 mph by 2021.
The rising demand for autonomous vehicles and connected vehicles generates opportunities for manufacturers.Moreover, governments around the world, including the United States, the United Kingdom, India, and China, are taking steps to raise awareness about the use of electric vehicles to mitigate adverse environmental impacts and foreign exchange reserves.
Due to the burgeoning requirement for electric vehicles (EVs), falling costs of acoustic vehicle alerting system (AVAS) components, and implementation of mandatory regulatory compliances in several countries, the global acoustic vehicle alerting system market revenue is predicted to rise to $10,578.8 million by 2030.
Furthermore, the market will advance at a CAGR of 11.9% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P Intelligence.The surging sales of electric vehicles is a major growth driver for the market.
In 2019, the size of the worldwide electric car fleet surpassed 7.1 million units, recording an increment of over 2 million from the number of cars that were in operation in 2018. and it is predicted to rise above 130 million by 2030.
The mushrooming adoption of electric vehicles is attributed to the growing public awareness about the rapid environmental degradation caused due to the extensive usage of gas and oil-powered vehicles and the increasing government support being provided for the development and procurement of these vehicles in many countries.Due to the falling cost of these components, the overall price of AVASs will decline, which will subsequently fuel their sales and production in the coming years.
Depending on propulsion, the acoustic vehicle alerting system market is classified into plug-in hybrid electric vehicle (PHEV), fuel cell electric vehicle (FCEV), and battery electric vehicle (BEV).
Out of these, the BEV category is predicted to hold the largest share in the market during the forecast period.This is credited to the rising government support being provided for the manufacturing of these vehicles, due to their eco-friendliness.
The global market for acoustic vehicle alerting systems was valued at about USD 33 Million in 2017 and is estimated to be more than USD 214 Million by the end of the assessment period.The growth of global acoustic vehicle alerting systems market can be primarily be attributed to the stringent regulations mandated by the governments across the globe to curb the possibility of accidents caused due to low sound of electric vehicles.
For instance, the European Union has a new directive requiring all new electric and hybrid vehicles to give a sound warning to pedestrians when traveling at speeds below 12 mph by 2021.Request a sample of this premium report at: https://www.marketresearchfuture.com/sample_request/8161Prominent PlayersThe Prominent Players in the global acoustic vehicle alerting systems market are Denso Corporation (Japan), HARMAN International (US), Delphi Technologies (UK), Daimler AG (Germany), Volkswagen AG (Germany), BMW AG (Germany), Honda Motor Co., Ltd (Japan), Nissan Motor Corporation (Japan), MANDO-HELLA Electronics Corp. (South Korea), and KUFATEC GmbH & Co. KG (Germany)Intended AudienceElectric vehicle OEMsEV infrastructure providersGovernment bodiesScope of the ReportThis study provides an overview of the global acoustic vehicle alerting systems market, tracking two market segments across four geographic regions.
The report studies key players and provide a six-year annual trend analysis, which highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the world.
The report also provides a forecast, which focuses on the market opportunities for the next six years for each region.
The scope of the study segments the global acoustic vehicle alerting systems market by vehicle type, sales channel, and region.Regional Analysis:Geographically, the global acoustic vehicle alerting systems market has been segmented into four major regions, which are North America, Europe, Asia-Pacific, and the Rest of the world.
The electric vehicle market in North America is expected to dominate the global acoustic vehicle alerting systems market through the forecast period, owing to stringent norms regulated by the government for pre-mounting of noisemaking devices in EVs and hybrid cars during the manufacturing process.
