Acoustic Vehicle Alerting System Market Outlook and Opportunities in Grooming Regions : Edition 2022-2030
Market Synopsis
Market Research Future (MRFR), in
its latest “Acoustic
Vehicle Alerting Systems Market” report discuss the market dynamics
studied by our proficient analysts. As per the study, the acoustic vehicle
alerting systems market size is likely to escalate. The worldwide acoustic
vehicle alerting systems market 2020 can experience a sharp rise due to the
rise of adoption of electric vehicles (EVs) and the proliferation of automobile
sector can impel the expansion of the acoustic vehicle alerting system market.
The rise in safety relating concerns and the growing awareness of acoustic
perception can prompt the growth of the market.
The noise frequency or level
emitted by electric automobiles can differ from those emitted by internal
combustion engine automobiles. Electric automobiles have low noise level that might
induce difficulty for pedestrians and visually impaired people. It growing need
to resolve issues with approaching EV that are immerse in the flow of traffic
due to the effect of masking can be provided by the ambience of noises.
Furthermore, the rise in number of electric cars on road can cause potential
danger to silent vehicles, cyclists, pedestrians, and geriatric public. As per
MRFR study, the world acoustic vehicle alerting systems market can rise at
about 12% CAGR through the evaluation period 2019–2025.
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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.
Moreover, governments around the
world, including the United States, the United Kingdom, India, and China, are
taking steps to raise awareness about the use of electric vehicles to mitigate
adverse environmental impacts and foreign exchange reserves. For illustration,
the Government of India has launched the National Electric Mobility Mission
Plan (NEMMP) 2020, with the goal of achieving national fuel security by
encouraging the use of electric vehicles in the country. Likewise, the European
Commission initiated ‘Green eMotion’ project worth EUR 41.8 million (USD 47.22
million) intending to achieve technical optimization and the growth of the EV
industry. This further increases the penetration of electric vehicles on the
road, leading to the global market's growth for acoustic vehicle alerting
systems.
Market Segmentation
The global market for acoustic
vehicle alerting systems has been segmented into vehicle type and sales
channel.
Based on vehicle type, the global
market for acoustic vehicle alerting systems has been segmented into heavy
commercial vehicles, passenger car, and light commercial vehicles.
Based on the sales channel, the
global market for acoustic vehicle alerting systems has been segmented into the
original equipment manufacturer (OEM) and aftermarket.
Regional Analysis
The global market for acoustic
vehicle alerting systems has been segmented into four major regions: North
America, Europe, Asia Pacific, and the Rest of the world.
The demand for electric vehicles
in North America is projected to dominate the global market for acoustic
vehicle alerting systems over the assessment period. This is due to the
government's strict pre-mounting standards for EVs and hybrid cars during the
manufacturing process.
Europe is anticipated to see
strong growth in the global market for acoustic vehicle alerting systems. Growth
in the region can be attributed to the strict rules laid down by the European
Parliament to allow AVAS to all new electric and hybrid vehicles.
The Asia Pacific is expected to
post the highest CAGR on the global market for acoustic vehicle alerting systems
during the forecast period
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).
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