Acoustic Vehicle Alerting System Market Size, Demand and Growth Forecast Report

The global acoustic vehicle alerting system market is expected to attain a revenue of $10,578.8 million by 2030, progressing at an 11.9% CAGR during 2020-2030, as stated by a report by P&S Intelligence. The market is growing due to the increasing demand for electric vehicles, declining cost of acoustic vehicle alerting system components, proposed plan of new EV variants launch, and mandatory regulatory compliances.

To receive free sample pages of this report: https://www.psmarketresearch.com/market-analysis/acoustic-vehicle-alerting-system-market/report-sample

The current COVID-19 situation has disrupted the automotive industry, much like several other industries, which is further predicted to hamper to growth of the market. Unless and until the electric vehicle industry gets back on the track, which can be done with the help of government policies for electric vehicles, the future of the acoustic vehicle alerting system domain is uncertain. Some other factors upon which the future of the electric vehicle industry depends are economic recovery rate, ease in confinement measures, consumer behavior regarding purchase of new cars, and potential second waves of the pandemic.

In terms of propulsion, theacoustic vehicle alerting system market is categorized into plug-in hybrid electric vehicle, battery electric vehicle (BEV), and fuel-cell electric vehicle. Out of these, the BEV category is expected to account for the largest share of the market in the coming years due to the rising government support for these vehicles, which, in turn, is due to their eco-friendly nature. Moreover, the reducing battery prices and less mechanical complexity of these vehicles are also projected to drive their demand.

Enquire Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=acoustic-vehicle-alerting-system-market

The Asia-Pacific (APAC) region is expected to dominate the acoustic vehicle alerting system market in 2030. China is the largest electric vehicle industry within the region and across the globe. The country accounted for over 90% of the total electric two-wheeler sales and approximately 50% of electric cars in 2019 and 90% of electric two-wheeler sales in 2019. Due to this, the country is also the largest domain for acoustic vehicle alerting system. Europe is expected to advance at the fastest pace in the years to come.

The key players operating in the acoustic vehicle alerting system market are Robert Bosch GmbH,Mando Corporation, Honda Motor Co. Ltd., Volkswagen AG,DENSO CORPORATION, Tesla Inc., Renault-Nissan, Samsung Electronics Co. Ltd., Delphi Technologies PLC,Mitsubishi Alliance, and Daimler AG.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.