Product Code: 10144
Market Overview
The global acoustic vehicle alerting system market generated USD 4,594.8 million in revenue in 2023, and it is projected to witness a CAGR of 12.2% during 2024-2030, reaching USD 10,262.4 million by 2030.
This is because of the tight emission standards and financial incentives that the government offers via tax rebates, grants, subsidies, and other non-financial benefits for electric vehicles.
The market is being consolidated and a joint venture of the leaders in electric vehicle manufacturers around the whole globe. Companies such as grown and are now working together, aiming at synergies to share technical know-how. In an illustration, BYD is in partnership with local distributors for the expansion of electric vehicle sales in Southeast Asia. Volkswagen as a partner with SAIC Motor on the other hand is set to develop electric cars too.
Governments are making efforts to encourage EV uptake, in turn sparking the market escalation of ACAS. Some conditions of government assistance include tax-free, purchase rebates, and financial incentives that are provided to consumers of EVs. For example, the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022 offers total exemption in taxes on all EVs registered in the state. Therefore, we can expect an explosion in the sales of electric vehicles.
Key Insights
During the projection period, the four-wheeler category is estimated to advance at a faster rate of 12.4% within the vehicle segment.
This development can be credited to the augmented acceptance of light-duty trucks and electric cars, propelled by innovations, lower prices, and an extensive range of available models from automakers.
Developed economies such as Europe and the U.S. will lead the acoustic vehicle alerting system industry for four-wheelers while developing economies like India and China will lead in the two-wheeler category.
The OEMs in the AVAS market segment experienced higher revenue in 2023, based on the rolled-out new installations in EVs, fulfilling the legal norms of the government.
This part of the market is predicted to show a bigger CAGR of 12.6 %, which, in turn, is the result of regular-wear-and-tear of AVAS components, and also the replacement of the provided part due to end-of-life of the system or governmental regulations which are supposed to mandate AVAS retrofitting in the EVs which were made before 2021.
The integrated category is forecasted to show faster growth in the AVAS industry due to increased integration of AVASs in four-wheelers.
This growth is driven by the significant presence of AVAS components in four-wheelers, contributing significantly to the market's expansion.
Additionally, the rising production and sales of electric passenger cars and light-duty trucks will further bolster the growth of the AVAS market in the integrated category.
BEVs are expected to dominate the propulsion segment due to government regulations mandating AVAS installation, with a 70% share of plug-in EVs by 2030.
Govt aid, fund allocation, and battery tech R&D will be the key channels in BEV growth.
APAC stands the largest market share and remains the largest one sticking to sparking high demand in countries like India and China.
EV capitalised on the future mobility solution and energy security whilst lowering the import of oil for energy resource.
EV manufacturers worldwide and electric two wheelers in APAC will mean boost of AVA sales in the region.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by propulsion
- 1.4.2. Market size breakdown, by vehicle type
- 1.4.3. Market size breakdown, by distribution channel
- 1.4.4. Market size breakdown, by mounting
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Volume, by Propulsion (2017-2030)
- 6.3. Market Revenue, by Propulsion (2017-2030)
- 6.4. Market Volume, by Vehicle Type (2017-2030)
- 6.5. Market Revenue, by Vehicle Type (2017-2030)
- 6.6. Market Volume, by Distribution Channel (2017-2030)
- 6.7. Market Revenue, by Distribution Channel (2017-2030)
- 6.8. Market Volume, by Mounting (2017-2030)
- 6.9. Market Revenue, by Mounting (2017-2030)
- 6.10. Market Volume, by Region (2017-2030)
- 6.11. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Volume, by Propulsion (2017-2030)
- 7.3. Market Revenue, by Propulsion (2017-2030)
- 7.4. Market Volume, by Vehicle Type (2017-2030)
- 7.5. Market Revenue, by Vehicle Type (2017-2030)
- 7.6. Market Volume, by Distribution Channel (2017-2030)
- 7.7. Market Revenue, by Distribution Channel (2017-2030)
- 7.8. Market Volume, by Mounting (2017-2030)
- 7.9. Market Revenue, by Mounting (2017-2030)
- 7.10. Market Volume, by Country (2017-2030)
- 7.11. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Volume, by Propulsion (2017-2030)
- 8.3. Market Revenue, by Propulsion (2017-2030)
- 8.4. Market Volume, by Vehicle Type (2017-2030)
- 8.5. Market Revenue, by Vehicle Type (2017-2030)
- 8.6. Market Volume, by Distribution Channel (2017-2030)
- 8.7. Market Revenue, by Distribution Channel (2017-2030)
- 8.8. Market Volume, by Mounting (2017-2030)
- 8.9. Market Revenue, by Mounting (2017-2030)
- 8.10. Market Volume, by Country (2017-2030)
- 8.11. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Volume, by Propulsion (2017-2030)
- 9.3. Market Revenue, by Propulsion (2017-2030)
- 9.4. Market Volume, by Vehicle Type (2017-2030)
- 9.5. Market Revenue, by Vehicle Type (2017-2030)
- 9.6. Market Volume, by Distribution Channel (2017-2030)
- 9.7. Market Revenue, by Distribution Channel (2017-2030)
- 9.8. Market Volume, by Mounting (2017-2030)
- 9.9. Market Revenue, by Mounting (2017-2030)
- 9.10. Market Volume, by Country (2017-2030)
- 9.11. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Volume, by Propulsion (2017-2030)
- 10.3. Market Revenue, by Propulsion (2017-2030)
- 10.4. Market Volume, by Vehicle Type (2017-2030)
- 10.5. Market Revenue, by Vehicle Type (2017-2030)
- 10.6. Market Volume, by Distribution Channel (2017-2030)
- 10.7. Market Revenue, by Distribution Channel (2017-2030)
- 10.8. Market Volume, by Mounting (2017-2030)
- 10.9. Market Revenue, by Mounting (2017-2030)
- 10.10. Market Volume, by Country (2017-2030)
- 10.11. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Volume, by Propulsion (2017-2030)
- 11.3. Market Revenue, by Propulsion (2017-2030)
- 11.4. Market Volume, by Vehicle Type (2017-2030)
- 11.5. Market Revenue, by Vehicle Type (2017-2030)
- 11.6. Market Volume, by Distribution Channel (2017-2030)
- 11.7. Market Revenue, by Distribution Channel (2017-2030)
- 11.8. Market Volume, by Mounting (2017-2030)
- 11.9. Market Revenue, by Mounting (2017-2030)
- 11.10. Market Volume, by Country (2017-2030)
- 11.11. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Volume, by Propulsion (2017-2030)
- 12.3. Market Revenue, by Propulsion (2017-2030)
- 12.4. Market Volume, by Vehicle Type (2017-2030)
- 12.5. Market Revenue, by Vehicle Type (2017-2030)
- 12.6. Market Volume, by Distribution Channel (2017-2030)
- 12.7. Market Revenue, by Distribution Channel (2017-2030)
- 12.8. Market Volume, by Mounting (2017-2030)
- 12.9. Market Revenue, by Mounting (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Volume, by Propulsion (2017-2030)
- 13.3. Market Revenue, by Propulsion (2017-2030)
- 13.4. Market Volume, by Vehicle Type (2017-2030)
- 13.5. Market Revenue, by Vehicle Type (2017-2030)
- 13.6. Market Volume, by Distribution Channel (2017-2030)
- 13.7. Market Revenue, by Distribution Channel (2017-2030)
- 13.8. Market Volume, by Mounting (2017-2030)
- 13.9. Market Revenue, by Mounting (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Volume, by Propulsion (2017-2030)
- 14.3. Market Revenue, by Propulsion (2017-2030)
- 14.4. Market Volume, by Vehicle Type (2017-2030)
- 14.5. Market Revenue, by Vehicle Type (2017-2030)
- 14.6. Market Volume, by Distribution Channel (2017-2030)
- 14.7. Market Revenue, by Distribution Channel (2017-2030)
- 14.8. Market Volume, by Mounting (2017-2030)
- 14.9. Market Revenue, by Mounting (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Volume, by Propulsion (2017-2030)
- 15.3. Market Revenue, by Propulsion (2017-2030)
- 15.4. Market Volume, by Vehicle Type (2017-2030)
- 15.5. Market Revenue, by Vehicle Type (2017-2030)
- 15.6. Market Volume, by Distribution Channel (2017-2030)
- 15.7. Market Revenue, by Distribution Channel (2017-2030)
- 15.8. Market Volume, by Mounting (2017-2030)
- 15.9. Market Revenue, by Mounting (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Volume, by Propulsion (2017-2030)
- 16.3. Market Revenue, by Propulsion (2017-2030)
- 16.4. Market Volume, by Vehicle Type (2017-2030)
- 16.5. Market Revenue, by Vehicle Type (2017-2030)
- 16.6. Market Volume, by Distribution Channel (2017-2030)
- 16.7. Market Revenue, by Distribution Channel (2017-2030)
- 16.8. Market Volume, by Mounting (2017-2030)
- 16.9. Market Revenue, by Mounting (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Volume, by Propulsion (2017-2030)
- 17.3. Market Revenue, by Propulsion (2017-2030)
- 17.4. Market Volume, by Vehicle Type (2017-2030)
- 17.5. Market Revenue, by Vehicle Type (2017-2030)
- 17.6. Market Volume, by Distribution Channel (2017-2030)
- 17.7. Market Revenue, by Distribution Channel (2017-2030)
- 17.8. Market Volume, by Mounting (2017-2030)
- 17.9. Market Revenue, by Mounting (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Volume, by Propulsion (2017-2030)
- 18.3. Market Revenue, by Propulsion (2017-2030)
- 18.4. Market Volume, by Vehicle Type (2017-2030)
- 18.5. Market Revenue, by Vehicle Type (2017-2030)
- 18.6. Market Volume, by Distribution Channel (2017-2030)
- 18.7. Market Revenue, by Distribution Channel (2017-2030)
- 18.8. Market Volume, by Mounting (2017-2030)
- 18.9. Market Revenue, by Mounting (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Volume, by Propulsion (2017-2030)
- 19.3. Market Revenue, by Propulsion (2017-2030)
- 19.4. Market Volume, by Vehicle Type (2017-2030)
- 19.5. Market Revenue, by Vehicle Type (2017-2030)
- 19.6. Market Volume, by Distribution Channel (2017-2030)
- 19.7. Market Revenue, by Distribution Channel (2017-2030)
- 19.8. Market Volume, by Mounting (2017-2030)
- 19.9. Market Revenue, by Mounting (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Volume, by Propulsion (2017-2030)
- 20.3. Market Revenue, by Propulsion (2017-2030)
- 20.4. Market Volume, by Vehicle Type (2017-2030)
- 20.5. Market Revenue, by Vehicle Type (2017-2030)
- 20.6. Market Volume, by Distribution Channel (2017-2030)
- 20.7. Market Revenue, by Distribution Channel (2017-2030)
- 20.8. Market Volume, by Mounting (2017-2030)
- 20.9. Market Revenue, by Mounting (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Volume, by Propulsion (2017-2030)
- 21.3. Market Revenue, by Propulsion (2017-2030)
- 21.4. Market Volume, by Vehicle Type (2017-2030)
- 21.5. Market Revenue, by Vehicle Type (2017-2030)
- 21.6. Market Volume, by Distribution Channel (2017-2030)
- 21.7. Market Revenue, by Distribution Channel (2017-2030)
- 21.8. Market Volume, by Mounting (2017-2030)
- 21.9. Market Revenue, by Mounting (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Volume, by Propulsion (2017-2030)
- 22.3. Market Revenue, by Propulsion (2017-2030)
- 22.4. Market Volume, by Vehicle Type (2017-2030)
- 22.5. Market Revenue, by Vehicle Type (2017-2030)
- 22.6. Market Volume, by Distribution Channel (2017-2030)
- 22.7. Market Revenue, by Distribution Channel (2017-2030)
- 22.8. Market Volume, by Mounting (2017-2030)
- 22.9. Market Revenue, by Mounting (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Volume, by Propulsion (2017-2030)
- 23.3. Market Revenue, by Propulsion (2017-2030)
- 23.4. Market Volume, by Vehicle Type (2017-2030)
- 23.5. Market Revenue, by Vehicle Type (2017-2030)
- 23.6. Market Volume, by Distribution Channel (2017-2030)
- 23.7. Market Revenue, by Distribution Channel (2017-2030)
- 23.8. Market Volume, by Mounting (2017-2030)
- 23.9. Market Revenue, by Mounting (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Volume, by Propulsion (2017-2030)
- 24.3. Market Revenue, by Propulsion (2017-2030)
- 24.4. Market Volume, by Vehicle Type (2017-2030)
- 24.5. Market Revenue, by Vehicle Type (2017-2030)
- 24.6. Market Volume, by Distribution Channel (2017-2030)
- 24.7. Market Revenue, by Distribution Channel (2017-2030)
- 24.8. Market Volume, by Mounting (2017-2030)
- 24.9. Market Revenue, by Mounting (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Volume, by Propulsion (2017-2030)
- 25.3. Market Revenue, by Propulsion (2017-2030)
- 25.4. Market Volume, by Vehicle Type (2017-2030)
- 25.5. Market Revenue, by Vehicle Type (2017-2030)
- 25.6. Market Volume, by Distribution Channel (2017-2030)
- 25.7. Market Revenue, by Distribution Channel (2017-2030)
- 25.8. Market Volume, by Mounting (2017-2030)
- 25.9. Market Revenue, by Mounting (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Volume, by Propulsion (2017-2030)
- 26.3. Market Revenue, by Propulsion (2017-2030)
- 26.4. Market Volume, by Vehicle Type (2017-2030)
- 26.5. Market Revenue, by Vehicle Type (2017-2030)
- 26.6. Market Volume, by Distribution Channel (2017-2030)
- 26.7. Market Revenue, by Distribution Channel (2017-2030)
- 26.8. Market Volume, by Mounting (2017-2030)
- 26.9. Market Revenue, by Mounting (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Volume, by Propulsion (2017-2030)
- 27.3. Market Revenue, by Propulsion (2017-2030)
- 27.4. Market Volume, by Vehicle Type (2017-2030)
- 27.5. Market Revenue, by Vehicle Type (2017-2030)
- 27.6. Market Volume, by Distribution Channel (2017-2030)
- 27.7. Market Revenue, by Distribution Channel (2017-2030)
- 27.8. Market Volume, by Mounting (2017-2030)
- 27.9. Market Revenue, by Mounting (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Volume, by Propulsion (2017-2030)
- 28.3. Market Revenue, by Propulsion (2017-2030)
- 28.4. Market Volume, by Vehicle Type (2017-2030)
- 28.5. Market Revenue, by Vehicle Type (2017-2030)
- 28.6. Market Volume, by Distribution Channel (2017-2030)
- 28.7. Market Revenue, by Distribution Channel (2017-2030)
- 28.8. Market Volume, by Mounting (2017-2030)
- 28.9. Market Revenue, by Mounting (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. HELLA GmbH & Co. KGaA
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. HL Klemove
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. DENSO ELECTRONICS CORPORATION
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Honda Motor Co. Ltd.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Tesla Inc.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Continental Engineering Services
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Toyota Motor Corporation
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Volkswagen AG
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Renault Group
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Samsung Electronics Co. Ltd.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. Tata Motors Limited
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports