Acoustic Vehicle Alerting System Market Size, Share, Growth Analysis, By Electric 2-Wheeler, By Mounting of Position, By Propulsion Type, By Vehicle Type, By Sales Channel By Region - Industry Forecast 2024-2031

Global Acoustic Vehicle Alerting System Market size was valued at USD 1.06 billion in 2022 and is poised to grow from USD 1.13 billion in 2023 to USD 1.85 billion by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).

The global market for acoustic vehicle alerting systems in electric vehicles (EVs) is witnessing significant growth, driven by government mandates aimed at enhancing pedestrian safety. For instance, India's 2022 regulation mandating sound alert systems for vehicles traveling at speeds over 20 km/h highlights a proactive strategy to mitigate risks associated with the quiet operation of EVs, which poses dangers to pedestrians, particularly in urban environments. As the adoption of electric vehicles accelerates, so does the need for effective vehicle alert systems, directly contributing to market expansion. This trend is bolstered by a broader governmental push in India to promote electric mobility and reduce emissions, aligning with global sustainability goals. Initiatives such as the National Electric Mobility Mission Plan (NEMMP) and the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME I and II) have catalyzed interest in electric transportation, with substantial funding-such as the USD 1.4 billion allocated in FAME II through 2022-underscoring the government's commitment to fostering a robust EV ecosystem. Consequently, the convergence of safety regulations and supportive policies creates a fertile landscape for the growth of vehicle alert systems tailored for electric vehicles, facilitating safer urban mobility while enhancing the viability of electric transportation solutions. As urban populations continue to grow and the shift towards cleaner transportation accelerates, this market segment is poised for substantial advancements.

Top-down and bottom-up approaches were used to estimate and validate the size of the global acoustic vehicle alerting system market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

global acoustic vehicle alerting system Market Segmental Analysis

Global Acoustic Vehicle Alerting System Market is segmented on the electric 2-wheeler, mounting of position, propulsion type, vehicle type, sales channel, and region. By electric 2-wheeler, market is segmented into E-Scooter/Moped, and E-Motorcycle. By mounting of position, market is segmented into Separated, and Integrated. By propulsion type, market is segmented into Operational Data, Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle. By vehicle type, market is segmented into Commercial Vehicle, and Passenger Car. By sales channel, market is segmented into OEM, and Aftermarket. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Driver of the global acoustic vehicle alerting system Market

The rapid expansion of the electric vehicle (EV) market is a key driver for the global acoustic vehicle alerting systems (AVAS) market. As EV adoption rises, concerns about pedestrian safety intensify due to the quieter operation of these vehicles compared to traditional internal combustion engine (ICE) vehicles. The absence of engine noise poses risks to vulnerable road users, prompting regulatory measures that mandate the integration of sound systems in electric and hybrid vehicles to enhance awareness and prevent accidents. This regulatory push, coupled with increasing consumer safety awareness, is propelling demand for innovative acoustic alert systems, marking a significant growth opportunity in this sector.

Restraints in the global acoustic vehicle alerting system Market

The global acoustic vehicle alerting system market faces notable restraints due to divergent regulations regarding the installation of artificial sound systems in electric vehicles across various countries and regions. This inconsistency not only complicates compliance for automakers but also introduces obstacles that could hinder market expansion. Additionally, the financial burden of implementing these acoustic systems can be significant, especially in price-sensitive markets where cost considerations are paramount. As the automotive industry traditionally experiences a slow adoption curve for new technologies, the transition to integrating acoustic alert systems in electric vehicles may similarly encounter delays, further challenging market growth and adoption rates.

Market Trends of the global acoustic vehicle alerting system Market

The global acoustic vehicle alerting system market is witnessing an upward trend driven by advancements in technology and enhanced regulatory frameworks. As manufacturers focus on developing sophisticated sound generation systems, the integration of features like sound directionality and customization options is becoming standard. This allows alerts to be effective in enhancing pedestrian safety while minimizing noise pollution, catering to both regulatory compliance and consumer preferences. Additionally, the integration of these systems with vehicle infotainment interfaces provides drivers with enhanced control over acoustic alerts, further boosting market attractiveness. This evolution signifies a growing awareness of safety, innovation, and user experience, paving the way for future growth.