Acoustic Vehicle Alerting System Market By Vehicle Type (Passenger Cars, Two-Wheelers, Commercial Vehicles), Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicles), Mounting Position (Integrated, Separated), & Region for 2024-2031

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Acoustic Vehicle Alerting System Market Valuation – 2024-2031

Electric vehicles are becoming super popular worldwide, which is a big reason why we need more AVAS (Acoustic Vehicle Alerting Systems). You see, everyone's trying to be greener and cut down on pollution, so governments are encouraging us to switch to EVs. But here's the thingelectric cars are so quiet, they can be a bit risky for people walking, especially in noisy cities. That's why lots of places have made laws saying that electric and hybrid cars have to have AVAS. This is to help prevent accidents by letting pedestrians hear the cars coming. And get this, the market's expected to jump from USD 633.47 Million in 2024 to around USD 1513.30 Million by 2031!

The increasing adoption of electric vehicles combined with an increased focus on sustainable mobility solutions is expected to drive demand for AVAS technology in the future years. As governments throughout the world enforce tough emission rules and stimulate the adoption of electric transportation, the AVAS industry is expected to grow exponentially. Electric vehicle manufacturers aware of the critical role played by AVAS in maintaining regulatory compliance and improving overall safety are increasing their investments in AVAS integration consequently driving market growth by enabling the market to grow at a CAGR of 6.8% from 2024 to 2031. 

Acoustic Vehicle Alerting System MarketDefinition/ Overview

The Acoustic Vehicle Alerting System (AVAS) is an important safety component that helps to reduce the risks associated with electric and hybrid vehicles that operate quietly at low speeds. With the global push for sustainable transportation, electric cars (EVs) have grown more common on the road. However, its quiet functioning endangers pedestrians particularly those with visual impairments who rely on auditory signals for safe navigation. AVAS tackles this issue by generating sound to warn pedestrians of an oncoming vehicle, hence increasing their awareness and overall safety.

The acoustic vehicle alerting system marks a huge step forward in automotive safety and accessibility providing a comprehensive solution to the issues faced by silent electric vehicles. AVAS exemplifies the convergence of technology, safety, and social responsibility by alerting pedestrians to the presence of EVs, increasing accessibility for visually impaired people, encouraging environmental sustainability, and improving user experience. However, the successful integration of AVAS into the mobility context depends on addressing possible issues such as noise pollution and pedestrian awareness.

This technology represents a paradigm change in vehicle safety and urban planning expanding beyond its intended goal to become a transformational force in defining the future of mobility. From its fundamental role in reducing the risks associated with silent electric vehicles to its broader implications for urban tranquility, accessibility, and human-machine interaction, AVAS represents the intersection of technological innovation, societal ideals, and environmental stewardship. As we traverse the intricacies of a constantly changing transportation world, AVAS serves as a beacon of progress showing the route to a safer, more inclusive, and sustainable future for all.

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Will the Increasing Consolidation and Joint Venture Drive the Acoustic Vehicle Alerting System Market?

The electric car (EV) market worldwide? It's changing fast! We're seeing companies join forces and big partnerships being formed. Why is this happening? Well, everyone's more focused on going green, plus there's pressure from regulations and, let's face it, more people want electric cars! To succeed, companies are realizing they need to work together – sharing skills, technology, and expanding where they sell their cars. Take BYD, the big Chinese EV maker, for example. They're teaming up with local distributors all over Southeast Asia. By working with these regional experts, BYD is hoping to get a stronger foothold and get more EVs on the road in this booming part of the world.

The joint efforts of electric car makers are likely to spark considerable research and development (R&D) projects targeted at pushing the state-of-the-art in electric vehicle technology. From battery innovation to vehicle design and production techniques, these R&D initiatives have the potential to reinvent the future of mobility and change the competitive landscape of the automotive industry. By pooling resources and expertise, manufacturers can speed up the development of next-generation electric vehicles that are not only more efficient and environmentally friendly but also more inexpensive and accessible to a wider variety of customers.

The ongoing consolidation and cooperation actions among key electric car manufacturers demonstrate the industry’s dedication to advancing innovation, sustainability, and growth in the global auto market. Manufacturers can expedite the transition to electric mobility by utilizing synergies, sharing technological expertise, and pooling resources resulting in more compelling, efficient, and accessible electric car solutions for consumers worldwide. As the sector evolves, strategic partnerships and alliances will continue to shape the future of mobility and open new potential for value creation and sustainable development.

Will High Initial Cost of Electric Vehicles Hamper the Acoustic Vehicle Alerting System Market?

The move to electric cars (EVs) is clearly an important step toward sustainable transportation but one of the major impediments to mainstream adoption remains the high cost of these vehicles. This cost discrepancy between electric and conventional gasoline-powered vehicles is mostly due to the high cost of the batteries that power EVs. Batteries often account for a major amount of an electric vehicle’s total cost ranging between 35% and 50%. Despite major price reductions in lithium-ion batteries which fell by more than 14% between 2022 and 2023, the entire cost of EVs remains significantly higher than their traditional equivalents.

The high cost of electric vehicles is multidimensional going beyond the cost of the battery. While breakthroughs in battery technology continue to reduce costs, additional expensive components add to the overall cost of EVs. This comprises specialized electric drivetrains complicated power electronics, and innovative materials used in vehicle building. As a result, the cost of producing and assembling electric vehicles is higher than for traditional vehicles which use better-established manufacturing techniques and components.

The move to electric vehicles has enormous promise for lowering emissions and boosting sustainable mobility but, the high cost of EVs remains a substantial obstacle to mainstream adoption. Despite significant decreases in battery pricing and continued attempts to reduce manufacturing costs, electric vehicles remain more expensive than their conventional equivalents. Addressing these economic constraints will necessitate a multimodal approach that includes technological improvements, supportive regulations, infrastructure development, and consumer education to hasten the transition to a greener automobile future.

Category-Wise Acumens

Will the Expansion of Electric Commercial Vehicles Drive the Vehicle Type Segment?

Commercial vehicles? They're a big deal in the acoustic vehicle alerting system (AVAS) market, grabbing a significant chunk of it. And guess what? We're expecting them to get even bigger over the next few years, mostly because electric commercial vehicles (EVs) are becoming super popular. What's really driving this? Well, it's the push to replace old, gas-guzzling buses with electric ones. Think cleaner air and greener cities! This change, fueled by environmental worries and, let's be honest, the law, is completely transforming how we get around in cities around the world. Cities, transportation companies, and even the folks making the rules are finally realizing we need to cut down on car emissions and clean up the air, so they're rushing to electrify public transit.

Electric commercial vehicles are really shaking things up in the auto world! We're seeing this shift because we need to cut down on pollution from transportation and make roads safer for everyone. That's where acoustic vehicle alerting systems (AVAS) come in – they're becoming super important for electric vehicles, especially when they're driving around cities with lots of people walking and biking. With more electric buses and trucks on the way, thanks to the push for sustainability, easier city travel, and new rules, the AVAS market is looking good. Basically, as electric vehicles become more commonplace on roads around the world, AVAS is shaping up to be a key safety feature, helping electric vehicles and vulnerable road users get along peacefully. Safety is critical!

Will the Increasing Use Of AVASs in Four-Wheelers Drive the Mounting Position Segment?

The acoustic vehicle alerting system (AVAS) has arisen as an important safety element especially with the rise of electric vehicles (EVs). Within the AVAS market segmentation, one major category, the segregated segment has established supremacy by gaining the largest market share. This segment’s popularity is due to its effectiveness in giving alert signals to pedestrians and cyclists which improves traffic safety in settings where typical engine noise is lacking. However, despite the fragmentation by mounting, the integrated category is expected to increase rapidly in the near future.

The growth of the integrated category is inextricably tied to the growing market for light-duty trucks. These vehicles which are critical for a variety of commercial and logistical operations are progressively switching to electric propulsion systems to cut carbon emissions and operational costs. As a result, the integration of AVAS becomes critical to ensuring the safety of pedestrians and workers in congested urban environments. The introduction of advanced warning signals into light-duty trucks improves safety while also aligning with business environmental aims and regulatory compliance procedures.

The  market is evolving towards integrated solutions owing to increased usage of electric vehicles, technological improvements, regulatory regulations, and shifting consumer preferences. The integrated category is expected to increase rapidly driven by its effectiveness in improving pedestrian safety, seamless integration into vehicle designs, and compliance with regulatory standards. As automakers work to provide safer and more sustainable mobility options, integrated AVAS will play an increasingly important role in influencing the future of vehicle safety and innovation.

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Country/Region-wise Acumens

Will the Increasing Population and Rising Income Levels Drive the Asia Pacific Region?

The Asia-Pacific region is at the pioneering of the expanding market for acoustic vehicle alerting systems with the potential to become its greatest stronghold. This significance is mostly driven by the region’s rapid adoption of electric vehicles (EVs) which represents a significant shift in automotive preferences. The region’s large population and rising income levels are driving up demand creating a fertile field for automotive innovation and consumer-led evolution.

The growing demand for electric vehicles is inextricably linked to the region’s socioeconomic trends which are marked by growing middle-class populations and rising disposable incomes. As consumers move toward more ecological and technologically advanced modes of transportation, the attractiveness of electric vehicles grows stronger boosting sales to new heights.

The rise of the Asia-Pacific region as a powerhouse in the acoustic vehicle alerting systems market exemplifies the tectonic transformations taking place in the automotive sector. Fueled by a tenacious pursuit of innovation, shifting consumer preferences, and supporting legislative frameworks, the area is at the forefront of the electric car revolution, set to reshape the global mobility landscape.

Will Increasing Consumer Demand for Better Vehicle Performance Drive the Region of Europe?

Europe emerges as a leader in rapid development fueled by a variety of factors accelerating dramatic transformations in the electric vehicle (EV) market. This growth is driven by rising consumer demand for improved vehicle performance, better driving experiences, and increased economic efficiency. This multidimensional demand serves as a critical stimulus for innovation and fundamental changes in the European automotive sector.

The primary drivers this impetus is being fueled by consumers growing preference for automobiles that not only meet but exceed established performance criteria. When it comes to car selection, European buyers are increasingly prioritizing qualities like speed, range, and overall driving dynamics. This movement mirrors a broader social trend towards eco-consciousness and sustainability with consumers looking for alternatives that provide superior performance while remaining environmentally responsible.

The projection period begins a new era of mobility in Europe marked by unprecedented innovation, expansion, and revolution in the electric car industry. The automobile landscape is undergoing a fundamental metamorphosis as consumer demand evolves driven by a desire for stronger performance, improved driving experiences, and increased economic efficiency. With Europe at the forefront of this transition, the stage is set for a dynamic and sustainable future in which electric mobility transforms how we move, live, and interact with our surroundings.

Competitive Landscape

The acoustic vehicle alerting system market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the acoustic vehicle alerting system market include

  • Volkswagen
  • Toyota Kirloskar Motor
  • Continental AG
  • DENSO Corporation
  • Novosim
  • Siemens
  • BorgWarner, Inc.
  • General Motors
  • Nissan Motor Co., Ltd.
  • HARMAN International
  • HELLA GmbH & Co. KGaA
  • Tesla

Latest Developments

  • In July 2023, Maruti Suzuki India Limited, a division of Suzuki Motor Corporation, will debut the Maruti Grand Vitara hybrid with AVAS to improve pedestrian safety.
  • In April 2022, Honda Cars India Limited, a subsidiary of Honda Motor Co. Ltd., will launch an electric hybrid car in India called the City eHEV. Safety features on the vehicle include an Acoustic Vehicle Alerting System (AVAS), an ACE body structure, a Multi-angle Rearview Camera, six airbags, a Tyre Pressure Monitoring System, Vehicle Stability Assist, Hill Start Assist, and Deflation Warning.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Growth Rate

CAGR of ~6.8% from 2024 to 2031

Base Year for Valuation

2024

Historical Period

2021-2023

Forecast Period

2024-2031

Quantitative Units

Value in USD Million

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Vehicle Type
  • Propulsion Type
  • Mounting Position
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

Volkswagen, Toyota Kirloskar Motor, Continental AG, DENSO Corporation, Siemens, BorgWarner, Inc., General Motors, Nissan Motor Co., HARMAN International, and Tesla.

Customization

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Acoustic Vehicle Alerting System Market, By Category

Vehicle Type

  • Passenger Cars
  • Two-Wheelers
  • Commercial Vehicles

Propulsion Type

  • Battery Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-in Hybrid Electric Vehicles

Mounting Position

  • Integrated
  • Separated

Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Research Methodology of Market Research

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