Global Acoustic Vehicle Alerting Systems Market Size, Trends and Growth Opportunity, By Vehicle Type (Passenger Cars, Two-Wheelers, and Commercial Vehicles), Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicles), Electric Two-Wheelers (E-Scooter/Moped, E-Motorcycle), Mounting Position (Integrated, Separated), Sales Channel (OEM and Aftermarket) By Region and forecast till 2027.
Global Acoustic Vehicle Alerting Systems Market
Global Acoustic Vehicle Alerting Systems Market was valued at USD 971.71 million in 2021 and is slated to reach at USD 5619 million by 2027 at a CAGR of 29.1% from 2022-2027.
Acoustic vehicle alerting systems are those tools that help produce sound. These gadgets are installed in hybrid or electric cars. By alerting people to the presence of the vehicle, they serve to protect pedestrians. Due to the growing concern about environmental and passenger safety, many countries promote the global expansion of electric vehicles.
Market Drivers
The adoption of more sophisticated systems in electric vehicles is anticipated to boost the market's growth pace. The government has mandated that acoustic vehicle warning systems be installed in electric vehicles, and the market for these systems is anticipated to develop significantly. For instance, the Indian government mandated a sound alarm system in 20 Kmph electric vehicles in 2022 to warn pedestrians. Compared to cars with combustion engines, electric vehicles make less noise, which poses a serious risk to pedestrians crossing the street. To deal with this issue, there is a growing need for acoustic vehicle alerting systems for electric vehicles, which is likely to result in significant market growth. A key factor in facilitating the market's growth will be the introduction of new EV models. For example, Volkswagen AG has stated their intention to release 30 new EV cars by 2025. Similar to how Ford intends to launch 13 new EVs by 2020, the Renault-Nissan-Mitsubishi Partnership has revealed its intention to launch 12 new EV vehicles by 2022. With their current and prospective electric car models, various Chinese automakers are also eager to get into the international market. As a result, the rise in the number of electric car models is projected to accelerate market expansion.
Market Restraints
Market expansion is anticipated to be hampered during the projected period by rising sales of electric and battery-powered vehicles in the coming years. Vehicles that run on batteries or electricity have no emissions and do not require an operational purge pump. Hence, during the projected period, all of these issues are anticipated to reduce demand for acoustic vehicle warning systems.
Impact of COVID-19
Before the COVID-19 breakout, several industry participants were gearing up to release new products and make improvements to their capabilities, therefore 2020 was expected to be a significant year for EV makers. The epidemic has fundamentally altered the market environment for all investors in the electric vehicle industry. The demand and supply for electric vehicles and other vehicles have been significantly lowered by preventive measures like curfews in high-crime zones and total lockdown. The market has suffered because of the decreased production and sale of EVs. The adoption of AVASs and EVs will also decline dramatically as a result of the falling crude oil prices because economies of scale will work strongly against these vehicles.
Recent Developments
The biggest carmaker in India, Maruti Suzuki, announced in 2022 that it will shortly introduce the first and most advanced electric vehicle by 2025. Moreover, Suzuki Motor Company, the company's parent, plans to invest Rs 10,400 crore in Gujarat to build an electric vehicle production facility. The firm announced that in addition to making electric vehicles, it will also begin producing lithium-ion batteries in the nation, which are currently being imported by many OEMs from other countries.
Toyota Motors stated in 2022 that it will invest Rs 3,600 crores in a factory in Bidai, Karnataka, for the production of hybrid vehicles. Also, this investment plan was released after the State government gave the go-ahead to begin hybrid vehicle production.
Market Segmentation
Global Acoustic Vehicle Alerting Systems Market is segmented into By Vehicle Type, Propulsion, Electric Two-Wheelers, Mounting Position, Sales Channel. By Vehicle Type such as Passenger Cars, Two-Wheelers, and Commercial Vehicles. By Propulsion such as Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicles. By Electric Two-Wheelers such as E-Scooter/Moped, E-Motorcycle. By Mounting Position such as Integrated, Separated. By Sales Channel such as OEM and Aftermarket.
Regional Analysis
Global Acoustic Vehicle Alerting Systems Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. Due to government attempts to raise awareness of the advantages and use of electric vehicles, the Asia-Pacific region now holds a dominant share of the market for acoustic vehicle alerting systems in terms of revenue growth. Further accelerating the market's growth pace in this region will be the rising demand for electric automobiles. Over the forecast period of 2022-2027, Europe is expected to experience the quickest rate of development. This is mostly due to the growing consumer desire for vehicles with better performance, a better driving experience, and greater economy, which has significantly changed the electric vehicle market in this area.
Key Players
This report includes a list of numerous Key Players, namely Volkswagen (Germany), Toyota Kirloskar Motor (India), Honda India (India), DENSO Corporation (Japan), Kendrion N.V. (Netherlands), Novosim (Denmark), Siemens (Germany), BorgWarner Inc. (U.K.), General Motors (U.S.), Nissan Motor Co., Ltd. (Japan).
Market Taxonomy
By Vehicle Type
• Passenger Cars
• Two-Wheelers
• Commercial Vehicles
By Propulsion
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicles
By Electric Two-Wheelers
• E-Scooter/Moped
• E-Motorcycle
By Mounting Position
• Integrated
• Separated
By Sales Channel
• OEM
• Aftermarket
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa.
Global Acoustic Vehicle Alerting Systems Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Acoustic Vehicle Alerting Systems Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Acoustic Vehicle Alerting Systems Market, By Vehicle Type
5.1 Y-o-Y Growth Comparison, By Vehicle Type
5.2 Global Acoustic Vehicle Alerting Systems Market Share Analysis, By Vehicle Type
5.3 Global Acoustic Vehicle Alerting Systems Market Size and Forecast, By Vehicle Type
5.3.1 Passenger Cars
5.3.2 Two-Wheelers
5.3.3 Commercial Vehicles
6 Global Acoustic Vehicle Alerting Systems Market, By Propulsion
6.1 Y-o-Y Growth Comparison, By Propulsion
6.2 Global Acoustic Vehicle Alerting Systems Market Share Analysis, By Propulsion
6.3 Global Acoustic Vehicle Alerting Systems Market Size and Forecast, By Propulsion
6.3. 1 Hybrid Electric Vehicle
6.3.2 Plug-in Hybrid Electric Vehicles
7 Global Acoustic Vehicle Alerting Systems Market, By Electric Two-Wheelers
7.1 Y-o-Y Growth Comparison, By Electric Two-Wheelers
7.2 Global Acoustic Vehicle Alerting Systems Market Share Analysis, By Electric Two-Wheelers
7.3 Global Acoustic Vehicle Alerting Systems Market Size and Forecast, By Electric Two-Wheelers
7.3.1 E-Scooter/Moped
7.3.2 E-Motorcycle
8 Global Acoustic Vehicle Alerting Systems Market, By Mounting Position
8.1 Y-o-Y Growth Comparison, By Mounting Position
8.2 Global Acoustic Vehicle Alerting Systems Market Share Analysis, By Mounting Position
8.3 Global Acoustic Vehicle Alerting Systems Market Size and Forecast, By Mounting Position
8.3.1 Integrated
8.3.2 Separated
9 Global Acoustic Vehicle Alerting Systems Market, By Sales Channel
9.1 Y-o-Y Growth Comparison, By Sales Channel
9.2 Global Acoustic Vehicle Alerting Systems Market Share Analysis, By Sales Channel
9.3 Global Acoustic Vehicle Alerting Systems Market Size and Forecast, By Sales Channel
9.3.1 OEM
9.3.2 Aftermarket
10Global Acoustic Vehicle Alerting Systems Market, By Region
10.1 Global Acoustic Vehicle Alerting Systems Market Share Analysis, By Region
10.2 Global Acoustic Vehicle Alerting Systems Market Share Analysis, By Region
10.3 Global Acoustic Vehicle Alerting Systems Market Size and Forecast, By Region
11 North America Acoustic Vehicle Alerting Systems Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 North America Acoustic Vehicle Alerting Systems Market Share Analysis, By Vehicle Type
11.3 North America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Propulsion
11.4 North America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Electric Two-Wheelers
11.5 North America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Mounting Position
11.6 North America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Sales Channel
11.7 North America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Country
11.7.1 U.S.
11.7.2 Canada
11.7.3 Mexico
12 Europe Acoustic Vehicle Alerting Systems Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Europe Acoustic Vehicle Alerting Systems Market Share Analysis, By Vehicle Type
12.3 Europe Acoustic Vehicle Alerting Systems Market Size and Forecast, By Propulsion
12.4 Europe Acoustic Vehicle Alerting Systems Market Size and Forecast, By Electric Two-Wheelers
12.5 Europe Acoustic Vehicle Alerting Systems Market Size and Forecast, By Mounting Position
12.6 Europe Acoustic Vehicle Alerting Systems Market Size and Forecast, By Sales Channel
12.7 Europe Acoustic Vehicle Alerting Systems Market Size and Forecast, By Country
12.7.1 Germany
12.7.2 France
12.7.3 UK
12.7.4. Rest of Europe
13 Asia Pacific Acoustic Vehicle Alerting Systems Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Asia Pacific Acoustic Vehicle Alerting Systems Market Share Analysis, By Vehicle Type
13.3 Asia Pacific Acoustic Vehicle Alerting Systems Market Size and Forecast, By Propulsion
13.4 Asia Pacific Acoustic Vehicle Alerting Systems Market Size and Forecast, By Electric Two-Wheelers
13.5 Asia Pacific Acoustic Vehicle Alerting Systems Market Size and Forecast, By Mounting Position
13.6 Asia Pacific Acoustic Vehicle Alerting Systems Market Size and Forecast, By Sales Channel
13.7 Asia Pacific Acoustic Vehicle Alerting Systems Market Size and Forecast, By Country
13.7.1 China
13.7.2 Japan
13.7.3 India
13.7.4. Rest of Asia Pacific
14 Latin America Acoustic Vehicle Alerting Systems Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Latin America Acoustic Vehicle Alerting Systems Market Share Analysis, By Vehicle Type
14.3 Latin America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Propulsion
14.4 Latin America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Electric Two-Wheelers
14.5 Latin America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Mounting Position
14.6 Latin America Acoustic Vehicle Alerting Systems Market Size and Forecast, By Sales Channel
14.7 Latin America Acoustic Vehicle Alerting Systems Market Size and Forecast, Country
14.7.1. Brazil
14.7.2.Rest of Latin America
15 Middle East Acoustic Vehicle Alerting Systems Market Analysis and Forecast (2022-2027)
15.1 Introduction
15.2 Middle East Acoustic Vehicle Alerting Systems Market Share Analysis, By Vehicle Type
15.3 Middle East Acoustic Vehicle Alerting Systems Market Size and Forecast, By Propulsion
15.4 Middle East Acoustic Vehicle Alerting Systems Market Size and Forecast, By Electric Two-Wheelers
15.5 Middle East Acoustic Vehicle Alerting Systems Market Size and Forecast, By Mounting Position
15.6 Middle East Acoustic Vehicle Alerting Systems Market Size and Forecast, By Sales Channel
15.7 Middle East Acoustic Vehicle Alerting Systems Market Size and Forecast, By Country
15.7.1. Saudi Arabia
15.7.2. UAE
15.7.3. Egypt
15.7.4. Kuwait
15.7.5. South Africa
16 Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17 Company Profiles
17.1 Volkswagen (Germany)
17.1.1 Overview
17.1.2 Offerings
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
17.1.5 Key Market Developments
17.1.6 Key Strategies
17.2. Toyota Kirloskar Motor (India)
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3. Honda India (India)
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4 DENSO Corporation (Japan)
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.4.5 Key Market Developments
17.4.6 Key Strategies
17.5. Kendrion N.V. (Netherlands)
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6. Novosim (Denmark)
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7. Siemens (Germany)
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8. BorgWarner Inc. (U.K.)
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9. General Motors (U.S.)
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5 Key Market Developments
17.9.6 Key Strategies
17.10. Nissan Motor Co., Ltd. (Japan)
17.10.1 Overview
17.10.2 Offerings
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
17.10.5 Key Market Developments
17.10.6 Key Strategies
