New York, US, May 18, 2022 (GLOBE NEWSWIRE) -- Automotive Horn Systems Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Automotive Horn Systems Market” information by Product Type, by Horn Shape, by Vehicle Type and Region – Forecast to 2030” market size to grow at a compound annual growth rate of 8.85% by 2030.
Automotive Horn Systems Market Scope:
An automotive horn can be described as an alerting device that are fixed in automobiles like buses, cars, motor vehicles, trucks, and more. Automotive horns in a vehicle helps warn other drivers or pedestrian of the vehicle’s approach. These systems help alert pedestrians about the vehicle’s approach. It reduces and prevents the probability of the driver being distracted by generating a sound and warning of the vehicle’s presence. This helps prevent a collision by alerting the vehicles and pedestrians in the surrounding.
Dominant Key Players in Automotive Horn Systems Market Covered are:
- Uno Minda (India)
- Robert Bosch (Germany)
- HELLA (Germany)
- Fiamm (Italy)
- Mitsuba Corporation (Japan)
- Maruko Keihoki (Japan)
- Imasen Electric Industrial (Japan)
- Kleinn Automotive (US)
- Sun AutomobileCo. Ltd. (US)
- SORL Auto Parts (China)
- Wolo Manufacturing (US)
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Market USP Exclusively Encompassed:
Automotive Horn Systems Market Drivers
With the emergence of effective connected vehicles technologies, autonomous vehicles, and Internet of Things (IoT), redundant components and designs have undergone significant changes to easily adapt and enhance the efficiency of the vehicle. At the same time, as one of the most important integral components of vehicles, automotive horn systems have come a very long way from being just pedestrian hand-operated systems to automated inbuilt electric horns offering the same functions of alerting approaching vehicles while warning pedestrians.
With innovations in automotive horn systems, the extremely high decibel sound has now mellowed down to a soft yet audible honk, which is more than enough to warn about a perceived emergency. An extensive series of air horns with customizable sounds are also in demand by motorists as well as enthusiasts worldwide. Automotive horns have a relatively higher frequency as well as intensity that can be detected from quite far. The booming sales of automotive has propelled the need for automotive horn systems.
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Market Restraints
Owing to rigid environmental norms along with the heightened preference for vehicles with higher fuel efficiency, automotive developers are opting for lighter components to bring down the weight, which can help cater to the demand for lower emissions as well as better mileage. Tier II developers and suppliers are coming up with low-weight raw materials via technological advances without compromising the structural strength of these components. But owing to intense competition with respect to pricing, motor developers are not able to focus entirely on the customers’ needs.
COVID-19 Analysis
The automotive horn systems market has been seeing a major decline since the outbreak of the COVID-19 pandemic. The pandemic has had an adverse effect on various businesses worldwide, particularly in regions like Europe and North America.
The transportation and automotive industry have been seriously impacted by the pandemic, given the adverse circumstances and economic crash. To prevent the virus from spreading further, companies are shutting down operations and production facilities while the government has restricted many of the manufacturing production activities. This has brought down the demand and the consumption rate of automotive horn systems across most of the major end-use industries.
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Segmentation of Market Covered in the Research:
Depending on product type, the automotive horn systems market caters to air horn as well as electric horn. The electric horn category will be the leading product type in the future while accumulating a faster growth rate since these can be customized and are easy to install.
With respect to horn shape, the market can be classified into spiral, trumpet and flat. The flat shape horn segment will take the lead in the years ahead, and can thrive at the fastest rate as well. Flat shape horns are compact and are extensively installed in motor vehicles.
In terms of vehicle type, the worldwide market for automotive horn systems has been considered for passenger cars along with commercial vehicles. The passenger cars segment can expect to dominate the global market. Passenger cars like sedans, hatchbacks, sports utility vehicles (SUVs), and multi-purpose vehicles (MUVs) are in high demand among consumers worldwide. Commercial vehicles like heavy commercial vehicles (HCVs) and lightweight commercial vehicles (LCVs) also make use substantial use of a variety of horn systems.
Regional Analysis
Asia Pacific can anticipate being the market leader in the years to come, given the large-scale production of commercial and passenger vehicles in the emerging nations. The strong growth is also in response to fast-emerging countries like China, Japan and India, with high production by the OEMs. There are numerous government regulations that mandate safety features in vehicles including horn systems.
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North America, divided into Canada, Mexico and the US, will record substantial growth between 2020 and 2027. The market expansion in the region is the result of the surging use of EVs which raises the production rate of automotive horn systems. In the region, attractive incentives by the government to popularize electric horn systems and high investments by auto developers can fuel the market demand. Other than this, strict emission norms, the availability of several hybrid models along with the rising preference for premium EVs will mean significant revenue generation in the coming years.
The European automotive horn systems market, especially in Italy, Germany, the UK, and France is will be expanding on the back of the surging production as well as recovering sales of different vehicles. The automotive horn systems market in the UK can rise in line with the booming sales of electric and hybrid vehicles. The improving sales of light commercial vehicles could further elevate the revenue generation of the automotive horn systems market. The Western Europe market can note significant growth in the years to come, with solid backing from Italy and Germany, as the demand for automotive horn systems continues to mount rapidly in this part of the region.
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