Automotive Horn Systems Market Production Analysis and Geographical Market Performance Forecast to 2030
Market Scope
The Global
Automotive Horn Market can generate revenues at 8% CAGR during
the forecast period.
Strict Noise Pollution Norms to Drive Market Demand
The implementation of stringent norms by global regulatory
bodies such as the Federal Motor Vehicle Safety Standard on the automotive
industry regarding safety concerns of customers are also anticipated to augment
the automotive horn systems market. Surge in new automotive vehicles is
expected to propel the automotive horn systems market during the forecast
period. Customized designs of automotive horns and the frequency and intensity
of the sound and its interchanging nature, can drive the automobile horn
industry.
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Connected Vehicles to Push Market Growth
Smart homes can utilize automotive horn solutions for
controlling heating, electrical, cooling, and light appliances. They can
increase comfort and usability while managing the ambience of rooms through a
centralized remote. Moreover, it can enhance the security of homes by enabling
floodlights and security illuminations at breach points. The COVID-19 pandemic
has propelled the demand for smart lights by providing a safe space for work in
homes and workstations.
Risk of Noise Pollution to Impede Market Growth
The huge developing costs of horns, as well as saturated
markets of developed economies of U.S., Canada, Japan, Germany, and France, can
impede market growth. Limited lifecycle of horns as well as its impact on
battery life can pose a challenge to market growth.
COVID-19 Impact
The COVID-19 pandemic can disrupt production of horns and
other car accessories owing to shutdown of facilities. Noise emission
regulations as well as noise limits in crowded urban spaces can drive the
market growth during the period.
Segmentation Analysis
Electric Horns to Drive Market Demand
By product type, the automotive horn systems market is
divided into air horn and electric horn. The electric horn segment is expected
to hold the larger share of the global market. They are easy to install and can
be customized.
Flat Shape Horns to Rule Global Automotive Horn Market
Growth
Based on horn shape, the global market is segmented into
flat, spiral, and trumpet. The flat shape horn segment is expected to hold the
largest share of the market share and it is expected to grow at the fastest
rate during the forecast period. The flat shape horns are smaller in size and
are widely installed in motor vehicles.
Passenger Vehicles to Command Major Market Share
By vehicle type, the automotive horn systems market is divided
into passenger cars and commercial vehicles. The passenger cars segment is
expected to lead the market during the forecast period. Passenger cars include
sedans, hatchbacks, multi-purpose vehicles (MUVs), and sports utility vehicles
(SUVs). Commercial vehicles include lightweight commercial vehicles (LCVs) and
heavy commercial vehicles (HCVs).
Regional Analysis
APAC to Display Highest CAGR
Asia-Pacific (APAC) is estimated to display a strong growth
rate owing to adoption of horns and increased production of vehicles. The boom
for vehicles in South Korea, Japan, China, and India coupled with noise
emission laws can drive demand for horns. Efforts to prevent accidents and
speed limits on highways can provide opportunities to the market.
Latin America to be Lucrative by 2027
Latin America is expected to be highly lucrative owing to
inclination towards premium cars and improved living standards of customers.
Competitive Analysis
Fiamm (Italy), Robert Bosch (Germany), Uno Minda (India),
Maruko Keihoki (Japan), Wolo Manufacturing (US), Mitsuba Corporation (Japan),
Sun AutomobileCo., Ltd. (US), Kleinn Automotive (US), SORL Auto Parts (China),
HELLA (Germany), and Imasen Electric Industrial (Japan) are prominent players
of the global automotive horn market. Commercialization of energy-efficient
solutions and improving the lumen range of smart lights are prime strategies of
players.
Industry Update
The Indian government is planning to mandate development of
horns with Indian musical sounds in a new way to rein noise pollution levels.
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The key players operating in the global automotive horn
systems market are Uno Minda, Robert Bosch, HELLA, Fiamm, Mitsuba Corporation,
Maruko Keihoki, Imasen Electric Industrial, Kleinn Automotive, Sun Automobile
Co., Ltd., SORL Auto Parts, and Wolo Manufacturing.
This research report provides insights into various levels
of analysis, such as industry analysis and market share analysis for the leading
industry competitors, along with their profiles. It also helps in studying the
target segments by providing views on the emerging and high-growth segments.
The market data comprises the basic assessment of the competitive scenarios and
strategies in the global automotive horn systems market, including high-growth
regions and/or countries and political and economic environments. The project
report further provides both – historical market values and pricing and cost
analysis.
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