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.
To Get Glimpse of what our report offers, Ask for a Report Brochure
Prominent companies operating in the global acoustic alerting system market include:
- Mando-Hella Electronics
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.
To Get a Bird’s Eye View of Market Forecast, Ask for a Custom Report
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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.