Acoustic Vehicle Alerting System Market to See Booming Growth | Delphi (Ireland), Daimler (Germany), Mando-Hella Electronics (South Korea), and Harman (US)

The report "Acoustic Vehicle Alerting System Market by Propulsion Type, Vehicle Type, Electric Two-Wheeler (E-Scooter/Moped, E-Motorcycle), Sales Channel (OEM, Aftermarket), Mounting Position (Integrated, Separated), and Region - Global Forecast to 2027", The acoustic vehicle alerting system market is projected to reach USD 5,619 million by 2027 from an estimated USD 425 million in 2019 considering the installation of AVAS in passenger car and commercial vehicle, at a CAGR of 38.1% during the forecast period

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BEV segment is estimated to be the fastest-growing acoustic vehicle alerting system market during the forecast period

The BEV segment is expected to hold the largest market share and is anticipated to be the fastest market growth owing to higher sales of BEV over PHEV and FCEV. Acoustic vehicle alerting system (AVAS) play a significant role in BEVs as these vehicles are powered by battery alone and emit very low noise while driving below 20km/h. BEVs such as Jaguar I-PACE and Nissan Leaf have already installed AVAS to enhance pedestrian safety.

Commercial segment is expected to grow at highest CAGR

Several countries are expected to replace their existing fuel-based bus fleet with electric buses. Acoustic vehicle alerting system will be installed in a commercial vehicle as per regulations to ensure the safety of other commuters on the road. The increasing trend of replacement of fossil fuel-based public transport fleet with electric buses will drive the growth of electric commercial vehicles during the forecast period. Additionally, the growth of e-commerce, logistics, and shared mobility will drive the growth of electric commercial vehicles during the forecast period.

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The Asia Pacific acoustic vehicle alerting system market is expected to register the fastest growth during the forecast period

The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The Asia Pacific market for passenger car market is estimated to be the largest market. It comprises some of the fastest developing economies in the world, such as China, Japan, and India.

Key Market Players:

The global acoustic vehicle alerting system market is dominated by major players such as Delphi (Ireland), Daimler (Germany), Mando-Hella Electronics (South Korea), and Harman (US), among others. These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in this market. These companies adopt strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.

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