Acoustic Vehicle Alerting Systems Market Global Sales, Revenue, Price and Gross Margin Forecast To 2030

Acoustic Vehicle Alerting Systems

Market Overview -

According to Market Research Future (MRFR), The Global Acoustic Vehicle Alerting Systems 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. The low noise level of the EV could make it difficult for pedestrians, particularly the visually impaired population, to detect an approaching EV immersion in the flow of traffic due to the masking effect of ambient noise. 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.

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Key Players

The key participants identified by MRFR in the global acoustic vehicle alerting systems market are Delphi Technologies (UK), Denso Corporation (Japan), HARMAN International (US), Daimler AG (Germany), Volkswagen AG (Germany), BMW AG (Germany), Nissan Motor Corporation (Japan), MANDO-HELLA Electronics Corp. (South Korea), Honda Motor Co., Ltd (Japan), and KUFATEC GmbH & Co. KG (Germany).

Market Dynamics

The growth of the global market for acoustic vehicle alerting systems 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. Likewise, in the US, the National Highway Safety Administration (NHTSA) mandated to require all electric and hybrid vehicles to emit sound while traveling up to 18.6 mph by September 2020.

Nevertheless, the reliability and longevity of AVAS in electric vehicles are expected to impede the growth of the global market for acoustic vehicle alerting systems over the forecast period. The rising demand for autonomous vehicles and connected vehicles generates opportunities for manufacturers.

Segmental Study

The acoustic vehicle alerting system global market study is based on vehicle type and sales channel. The vehicle type-based segments of the acoustic vehicle alerting systems are passenger car, light commercial vehicle, and commercial heavy vehicle. The rise in need for electric vehicle with greater convenience can spur the expansion of the acoustic vehicle alerting system in the review period. The sales channel based segments of the acoustic vehicle alerting system market are original equipment manufacturer and aftermarket. The original equipment manufacturer can gain considerable traction for the market in the near future.

Regional Study

North America acoustic vehicle alerting system market is anticipated to expand at the highest CAGR by 2025. North America can secure the largest share of the global acoustic vehicle alerting systems on the conclusion of the forecast period. The growth of North America acoustic vehicle alerting system market can be due to the high electric vehicles adoption rate by the population in the region. The presence of numerous potential OEMs that started to provide the sound systems as similar to ICE vehicles in electric vehicles during the process of manufacturing. In North America, among all regions, the US is anticipated to head the regional acoustic vehicle alerting systems market.

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