Acoustic Vehicle Alerting System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Acoustic Vehicle Alerting System Market is Segmented by Vehicle Type (Passenger Cars and Commercial Vehicles), Sales Channel (OEM and Aftermarket) and Geography.

Market Snapshot

Acoustic Vehicle Alerting System Market_Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >12 %

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Market Overview

The Acoustic Vehicle Alerting System Market is projected to grow with a CAGR of more than 12 % during the forecast period.

  • The market is primarily driven by the factors such as increase in demand for electric vehicles and increasing concerns about safety of pedestrians and others moving on the road.
  • The sales of electric vehicles in 2018 crossed the mark of 2 million globally and during the forecast period it is expected to expand further with a CAGR of more than 20 %.
  • The government regulations for implementation of acoustic vehicle alerting system for safety concerns is propelling demand in the market. For instance, as laid out in EU Regulation by 1 July 2021 all new vehicles sold in or imported to the EU, regardless of their type, must be equipped with an AVAS.

Scope of the Report

Acoustic Vehicle Alerting System Market covers the latest trends and technological developments, demand by the vehicle type, sales channel, geography and market share of major players.

Sales Channel
OEM
Aftermarket
Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
United Arab Emirates
Other Countries

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Key Market Trends

Demand from Commercial Vehicle is Expected to Help Market Growth

By vehicle type, acoustic vehicle alerting system for commercial vehicles is expected to outperform passenger vehicles segment in terms of growth rate. During the forecast period several governments are replacing their public transport fleet of conventional fuels by electric vehicles. EVs are very quiet in comparison to ICE Engines and for the safety of pedestrians and cyclists who basically depends on their hearing ability to detect any vehicle, AVAS is expected to see a demand. In January 2019, the Indian city of Pune became the first city in the country to adapt e-buses and in November 2019, around 133 e-buses were deployed across the city in the first phase as planned by the government. In February 2020, the British Transport Secretary announced the launch of first fully electric bus town with a grant of GBP 50 million from the government for deployment of electric buses. The rising demand for e-commerce activities around the world and pollution concerns are forcing the e-commerce players to opt for heavy electric vehicles for transportation of goods. These factors are expected to help the market for AVAS.

Acoustic Vehicle Alerting System_Key Market Trend1

Asia-Pacific is Expected to be the Largest Market

The Asia-Pacific region is expected to be the largest market for acoustic vehicle alerting system market. The demand is driven by high adaption rate of electric vehicles in the region. There is a high demand for vehicles in the region because of the population size of the region and their growing income levels. With the increasing pollution levels in the region the people in the region are choosing electric vehicles over conventional fuel vehicles. For instance, in the financial year 2019-20, the sales of electric vehicles in India increased with a rate of almost 20% as compared to previous year. China is the largest market for electric vehicles in the world. The country is the largest producer and buyer of electric vehicles, accounting for almost 50% of world’s demand. The government in the region are also providing aids and benefits to people who are purchasing electric vehicles. For instance, in April 2020, China announced to extend subsidies and tax breaks for electric vehicles by 2 year. In India, the GST for electric vehicles are on the lower side of 5% as compared to 12% on Conventional fuel vehicles and Rs 1.5 lakh tax exemption will be given on loan taken for the purchase of an electric vehicle.

Acoustic Vehicle Alerting System Market

Competitive Landscape

The Acoustic Vehicle Alerting System Market is highly fragmented, with several players accounting for a smaller portion of market share. Some of the prominent companies in the Acoustic Vehicle Alerting System Market are Hella Gmbh & Co. KGaA, Harman, Soundracer AB, Brigade Electronics, Diamler and others. These players are investing heavily in research and development of switches and relays for the commercial vehicles. For instance, in October 2019, Hella GmbH has announced that they have developed a new acoustic vehicle alerting system to protect road users such as pedestrians, cyclists and the visually impaired. The system will make artificial driving noise for electric vehicles below speed of 20 Kmph.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Sales Channel

      1. 5.1.1 OEM

      2. 5.1.2 Aftermarket

    2. 5.2 Vehicle Type

      1. 5.2.1 Passenger Cars

      2. 5.2.2 Commercial Vehicles

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 United Arab Emirates

        4. 5.3.4.4 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Hella Gmbh & Co. KGaA

      2. 6.2.2 Soundracer AB

      3. 6.2.3 Harman International Industries, Inc.

      4. 6.2.4 Brigade Electronics

      5. 6.2.5 Diamler AG

      6. 6.2.6 Kendrion NV

      7. 6.2.7 Kufatec GmbH & Co. Kg

      8. 6.2.8 Texas Instruments

      9. 6.2.9 Continental Ag

      10. 6.2.10 Honda Motor Company

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Acoustic Vehicle Alerting System Market market is studied from 2018 - 2026.

The Acoustic Vehicle Alerting System Market is growing at a CAGR of >12% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Hella Gmbh & Co. KGaA, Soundracer AB, Brigade Electronics, Daimler AG, Kendrion NV are the major companies operating in Acoustic Vehicle Alerting System Market.

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