Data Bridge Market Research analyses that the automotive horn systems market was valued at USD 662.40 million in 2021 and is expected to reach USD 1244.34 million by 2029, registering a CAGR of 8.20 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Global Automotive Horn Systems market Dynamics: -
Drivers
Rising implementation of stringent norms
The global regulatory authorities has increased the implementation of stringent norms such as the Federal Motor Vehicle Safety has announced some rules regarding safety concerns in the automotive industry is also expected to augment the growth of the automotive horn systems market during the forecast period.
Expansion of automotive industry
Rising production of vehicles is one of the major factors which is attributed to the growth of the automotive horn systems market worldwide. For instance, according to the manufacturers of International Organization of Motor Vehicle, the total number of vehicles which has produced in 2016 was 95 million units, which augmented to 97 million units in 2017, globally.
Growing introduction of new technologies
The increasing introduction of efficient connected car technologies, autonomous vehicles and Internet of Things (IoT), redundancy in designs have undergone significant changes to improve vehicle’s overall efficiency of the vehicle. This is another major factor which is expected to propel the industrial growth of the automotive horn system market.
Moreover, rising preferences of the luxury car owners for horn system with various design, growing willingness to pay of the consumer, rising production of the vehicle are some of the major factors which are also anticipated to boost the growth of the automotive horn systems market during the forecast period of 2022-2029.
Opportunities
Advanced improvement in designs of automotive horn
Manufacturers of automotive horn are improving their designs for efficient working and concentrating on the softer and somewhat lower tones to comply with regional noise rules. Trumpet horns are becoming more popular as people desire compact engines with superior performance due to this it is also used in light and large commercial vehicles.
Restraints/ Challenges
High Cost associated with product
However, the high cost associated with the raw material which has used for the manufacturing of automotive horn systems and growing replacement cost due to the accidents will restraint the demand of the automotive horn systems and may hamper the growth of the automotive horn systems market during the forecast period of 2022-2029.
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Global Automotive Horn Systems market Scope: -
The automotive horn systems market is segmented on the basis of product type, vehicle type and horn shape. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
Air Horn
Electric Horn
Vehicle Type
Passenger Cars
Commercial Vehicles
Horn Shape
Flat
Spiral
Trumpet
Automotive Horn Systems Market Regional Analysis/Insights: -
The countries covered in the automotive horn systems market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
Competitive Landscape and Automotive Horn Systems Market Share Analysis: -
Some of the major players operating in the automotive horn systems market are:
UNO Minda (India)
Robert Bosch GmbH (Germany)
HELLA GmbH Co. KGaA (Germany)
FIAMM Energy Technology S.p.A. (Italy)
Mitsuba Corp. (Japan)
Maruko Keihoki (Japan)
IMASEN ELECTRIC INDUSTRIAL CO.,LTD. (Japan)
DIGITEL LLC. (U.S.)
SUN AUTOMOBILE Co.,Ltd. (U.S.)
SORL Auto Parts, Inc. (China)
Wolo (U.S.)
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MAJOR TOC OF THE REPORT: -
- Chapter One: Introduction
- Chapter Two: Market Analysis and Insights
- Chapter Three: Market Dynamics
- Chapter Four: Market Scope
- Chapter Five: Market Regional Insights
- Chapter Six: Competitive Landscape System Market
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