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Acoustic Vehicle Alerting System Market Segmented By Integrated and Separated installation in Passenger Vehicle, Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs) Vehicle Type
Acoustic vehicle alerting system is a sound emitting device assembled in electric vehicle which produces a lower level of sound than the conventional vehicle. When the vehicle is operated at a lower speed, the acoustic vehicle alerting system warn pedestrians or other commuters about the vehicle’s presence.
Hence, the device is developed to reduce the risk of accidents. The acoustic vehicle alerting system market is expected to be driven by increasing demand for electric vehicles, government mandates, and increasing importance of pedestrian safety. An acoustic vehicle alerting system could either be integrated or separately available.
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|Based on the Vehicle Type||
|Based on the Propulsion Type||
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Increasing sales for electric vehicle is expected to propel the growth of global acoustic vehicle alerting system market. Moreover, the reduced noise levels of vehicle due to the adoption of acoustic vehicle alerting system, that reduces the level of pollution, is expected to increase the demand for acoustic vehicle alerting system market over the forecast period.
However, alternative option to acoustic vehicle alerting system is an automatic emergency braking systems that provides similar safety options is expected to slow down the sales of acoustic vehicle alerting system. Besides, demand for acoustic vehicle alerting system is expected to grow at significant pace over the near future owing to the increasing awareness of pedestrian safety.
Also, manufacturers of acoustic vehicle alerting system are investing in testing and research & development of different sound modules for continuous advancements in acoustic vehicle alerting system. For instance, in March 2019, Mercedes-AMG GmbH partnered with Linkin Park, the renowned music band, to create an artificial sound for its electric cars. This, in turn, is predicted to create significant opportunities for the market players.
The National Highway Traffic Safety Administration (NHTSA) of the United States has ordered a compulsory installation of acoustic vehicle alerting system from September 2020 production of all electric vehicles. Hence, North America is expected to have high growth for the acoustic vehicle alerting system market.
On the country level, in China, electric vehicle manufacturers are focusing on introducing the acoustic vehicle alerting system in the electric vehicles. For instance, in January 2018, BYD Co Ltd. announced to manufacture battery electric vehicle and plug-in hybrid electric vehicles with low-speed sound warning system to alert pedestrians.
Therefore, Asia Pacific is estimated to have substantial share in the global acoustic vehicle alerting system market. The European Parliament also announced to introduce compulsory acoustic vehicle alerting system (AVAS) for all new electric and hybrid vehicles to alert vulnerable road users.
Thus, Europe is estimated to create healthy growth for acoustic vehicle alerting system. The Middle East & Africa is expected to have moderate share in the acoustic vehicle alerting system market as compared to other regions.
Some of the key players involved in the acoustic vehicle alerting system market include
The research report presents a comprehensive assessment of the acoustic vehicle alerting system market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Acoustic Vehicle Alerting System market segments such as mounting position, vehicle type, propulsion type, and sales channel
The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on acoustic vehicle alerting system market segments and geographies.