Global Acoustic Vehicle Alerting System Market

Acoustic Vehicle Alerting System Market Size, Share, Growth Analysis, By Propulsion(BEV and PHEV), By Vehicle(Two-wheelers, Passenger vehicles), By Sales channels(OEM and Aftermarket) - Industry Forecast 2024-2031

Report ID: SQMIG45A2194 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 86 | Figures: 75

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Acoustic Vehicle Alerting System Market size was valued at USD 20.15 billion in 2022 and is poised to grow from USD 27.69 billion in 2023 to USD 351.69 billion by 2031, growing at a CAGR of 37.40% during the forecast period (2024-2031).

The competitive environment of the Acoustic Vehicle Alerting System market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Volkswagen (Germany)', 'Toyota Kirloskar Motor (India)', 'Continental AG (Germany)', 'DENSO Corporation (Japan)', 'Novosim (Denmark)', 'Siemens (Germany)', 'BorgWarner Inc. (U.K.)', 'General Motors (U.S.)', 'Nissan Motor Co., Ltd. (Japan)', 'HARMAN International (U.S.)', 'HELLA GmbH & Co. KGaA (Germany)', 'Tesla (U.S.)', 'Texas Instruments Incorporated. (U.S.)', 'Mercedes-Benz Group AG (Germany)', 'Honda India (India)', 'Brigade Electronics Group Plc (U.K.)', 'Kendrion N.V. (Netherlands)', 'KUFATEC GmbH & Co. KG (Germany)', 'Fisker, Inc. (U.S.)'

The surge in electric vehicle adoption has been propelled by multiple factors, notably driven by mounting apprehensions surrounding environmental pollution and the imperative to curtail greenhouse gas emissions. Governments and policymakers worldwide have been robustly advocating for electric vehicle uptake through a spectrum of incentives, subsidies, and the imposition of stricter emissions regulations. However, as electric vehicles become more prevalent, a significant concern arises pertaining to road safety. These vehicles, distinct from conventional Internal Combustion Engine (ICE) counterparts, lack the characteristic sound emissions, prompting a growing worry about their potential impact on road safety due to reduced auditory cues for pedestrians and other road users.

The evolution of acoustic vehicle alert system technology has seen significant strides towards greater sophistication and efficacy. Manufacturers have dedicated their efforts to crafting sound generation systems that not only adhere to regulations but also resonate more profoundly with both pedestrians and drivers. Innovations in this realm have introduced features such as sound directionality and customizable options, ensuring that these alerts strike a balance between being noticeable for safety without becoming excessively intrusive. Furthermore, certain systems have been seamlessly integrated with vehicle infotainment setups, empowering drivers with increased control over the sounds emitted by their vehicles.

In North America, supportive government initiatives aimed at bolstering electric vehicle adoption are poised to significantly propel the growth of the acoustic vehicle alerting system market. With the rising popularity of electric vehicles, there's a parallel increase in public awareness regarding their potential risks to pedestrians and other road users due to their quieter operation. This heightened awareness has sparked considerable attention in the media and advocacy circles regarding the need for enhanced safety measures, particularly through technologies such as the acoustic vehicle alert system.

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Acoustic Vehicle Alerting System Market Size, Share, Growth Analysis, By Propulsion(BEV and PHEV), By Vehicle(Two-wheelers, Passenger vehicles), By Sales channels(OEM and Aftermarket) - Industry Forecast 2024-2031

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