Acoustic Vehicle Alerting System Market

Acoustic Vehicle Alerting System Market: Overview

Government mandates are the key factors impacting the global acoustic vehicle alerting system market. Recently, EU’s legislation has mandated the installation of acoustic vehicle alerting systems (AVAS) in the new models of electric and hybrid cars introduced since July 2019. Not just the European Union, but the National Highway Traffic Safety Administration of the U.S. has introduced fake noise rules for their electric and hybrid vehicles.

The rising popularity of electric vehicles, necessitating the use of acoustic vehicle alerting system has encouraged the TMR analysts to conduct a detailed analysis of the global acoustic vehicle alerting system market. The report provides a holistic view of the market and highlights the key factors shaping the market’s growth throughout the forecast period.

Acoustic Vehicle Alerting System Market: Notable Developments and Competitive Analysis

A few prominent players dominate the acoustic vehicle alerting system market. These companies are strengthening their position in the market through strong distribution networks and the development of new products. Some of the new developments in the acoustic vehicle alerting system market are listed below:

• Bosch Engineering has recently opened a new acoustics test center in Abstatt. This center will provide a platform for the enhancement of vehicle acoustics. The close collaboration between Bosch Engineering and Bosch Group’s acoustical engineers has highly benefitted in the improvement of the NVH behavior of vehicles.
• ECTunes had introduced intelligent pedestrian warning system that generates a sound that mimics the vehicle’s speed. Building on the same concept, it has now developed full-range outdoor loudspeakers which is an off-the-shelf solution that can be integrated into vehicles.
• Harman International, a subsidiary of Samsung Electronics Co., Ltd setup its automotive electronics manufacturing plant in Pune, India as a part of its “Make in India” initiative. This plant is expected to triple its production capacity by the end of 2021.

Prominent companies operating in the global acoustic alerting system market include:

• Mando-Hella Electronics
• Delphi
• Daimler
• Harman

Acoustic Vehicle Alerting System Market: Key Drivers

The rising popularity of e-motorcycle is expected to be highly instrumental in the acoustic vehicle alerting system market’s growth. Competitive prices, easy availability, and low operating costs are expected to drive the sales for e-motorcycles. The rising environmental concerns and tax concessions will further encourage consumers to buy e-bikes.

Commercial vehicles are also expected to hold a major share in the market’s growth during the forecast period. This is mainly due to the new regulations laid down in Europe and the U.S. that mandates the installation of AVAS even in heavy vehicles such as buses and trucks. Moreover, progression in the automotive components market has also had a positive impact on the acoustic vehicle alerting system market’s growth.

Acoustic Vehicle Alerting System Market: Regional Analysis

On the regional front, Asia Pacific is anticipated to display the fastest growth during the forecast period. This is mainly because of the growing automotive industry in the developing countries such as South Korea, Japan, India, and China. Moreover, the governments in this region are encouraging the adoption of electric vehicles. The market in Asia Pacific is followed by North America due to the presence of leading companies such as Tesla and Ford. The U.S. and Canada are expected to be the major contributors to growth in this region due to the new regulations laid down by the governments regarding the emission standards.