Global Acoustic Vehicle Alerting System Market is valued approximately USD 425 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 38.10% over the forecast period 2019-2026. Acoustic vehicle alerting system (AVAS) is a sound emitting device assembled in electric vehicle which produces a lower level of sound than the conventional vehicle. These systems are used to protect pedestrians by warning them about the vehicle’s presence. Due to the growing concern regarding environmental and passenger protection, the governments of various countries are supporting the development of electric vehicles worldwide. Also, inherent application of AVAS in electric vehicles coupled with rising sale of electric vehicles is anticipated to drive the growth of AVAS systems over the forecast years. For instance: According to the International Energy Agency (IEA) 2019, the global electric car deployment has been growing rapidly over the past ten years, the global stock of electric passenger vehicle cars was passed by 5 million in 2018 with an increase of 63% from 2017. It was found that over 45% of electric cars on China’s road in 2018 that is 2.3 million compared to 39% in 2017. Similarly, Europe accounts for 24% of global electric cars and United States with 22% in 2018. Moreover, mandatory norms and regulations established by government across the globe regarding installation of AVAS in vehicles is creating a lucrative opportunity for the growth of market over the upcoming period. However, due to the global outbreak of COVID-19, the global automobile industry is facing a slowdown due to the lockdown in several countries that has restricted the production of electric vehicles. Also, some of the major companies indulged in manufacturing Electric vehicles such as Nissan Motor Co., Kia Motors Corp., BMW AG, Daimler AG, and Tesla, Inc. have shut down their electric vehicle production facilities and shifted their focus towards the manufacturing of personal protective equipment. Therefore, such factor is hampering the growth of market over the forecast years.
The regional analysis of global Acoustic Vehicle Alerting System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of favorable government initiatives regarding adoption of AVAS systems in vehicles. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such rising demand for electric vehicles would create lucrative growth prospects for the Acoustic Vehicle Alerting System market across Asia-Pacific region.
Major market player included in this report are:
Mando-Hella Electronics Corp
Kufatec GmbH & Co. Kg
Nissan Motor Co. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Fuel Cell Electric Vehicle (FCEV)
By Vehicle Type:
By Mounting Position:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Acoustic Vehicle Alerting System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers