Global Automotive Horn Systems market, By Product Type (Air Horn, Electric Horn), Vehicle Type (Passenger Cars, Commercial Vehicles), Horn Shape (Flat, Spiral, Trumpet) – Industry Trends and Forecast to 2029
Automotive Horn Systems Market Analysis and Size
The automotive horn systems market has experienced a healthy growth in recent years globally. This has resulted in the growth of the market at a moderate and steady pace. The development of the market can be mainly attributed to the growing disposable income and rapid urbanisation overall the globe. The “electric horn” is the highest growing product type segment because these horns have a higher recurrence and may be detected over a wide range of areas. Furthermore, the stringent implementation of these safety standards not only in the people lives but across several industries has also been quite helpful in the overall development of the automotive horn systems market globally during forecast period
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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Air Horn, Electric Horn), Vehicle Type (Passenger Cars, Commercial Vehicles), Horn Shape (Flat, Spiral, Trumpet)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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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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Market Opportunities
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Market Definition
Automotive horn system works on the vibrating metal diaphragm principle. They are all electrically driven and contain a solenoid which is an electromagnet and a thin metal disc made up of spring steel. When energised this metal diaphragm, the solenoid exerts a magnetic force on the disc which causes it to flex concentrically.
Global Automotive Horn Systems Market Dynamics
Drivers
- Rising implementation of stringent norms
The global regulatory authorities have increased the implementation of stringent norms such as the Federal Motor Vehicle Safety has announced some rules regarding safety concerns in the automotive industry and 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. Therefore, growing number of vehicles on road is dominating to increasing the demand for automotive horn systems which are expected to increase the growth of the market.
- 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. These factors are anticipated to continue to open up lucrative opportunities for the major market players and new entrants in the market.
Furthermore, rising number of innovations in automotive horn systems along with growing awareness among the consumer regarding safety will further create several opportunities for the growth of the automotive horn systems market during the forecast period of 2022-2029.
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.
This automotive horn systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive horn systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Automotive Horn Systems market
The outbreak of covid-19 pandemic has slowed down the global economy. Although this coronavirus has posed a major effect on human health globally, the market for automotive horn systems is also negatively affected during this pandemic. On the other hand, it is expected that the market will improve again as trade borders are opened and rules are eased. The automobile industry has been one of the most hit industries during the pandemic due to this automotive horn systems market also adversely affected but the major market players are relying on contingency planning to handle, supply chain and inventory management issues related to the automotive horn systems industry
Recent Development
- In May 2021, With 41 eCanter in daily operation, FUSO, a Daimler Trucks brand collaborated with DB Schenker which is a multinational logistics service provider, now become largest electric fleet customer.
- In May 2020, WABCO (Switzerland) which is a commercial vehicle technology provider acquisition with this Z.F. Friedrichshafen AG company. After this acquisition, the company was able to increase the range of its commercial vehicle service and run its customer business more proficiently in Switzerland.
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 automotive horn systems market is analysed and market size insights and trends are provided by country, product type, vehicle type and horn shape as referenced above.
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.
North America dominates the automotive horn systems market in terms of market share. This is due to the growing disposable income of the consumers along with the growth of the automotive sector and increased manufacturing of vehicles with automotive horns in this region.
Asia-Pacific is expected to be the fastest developing regions during the forecast period of 2022-2029 due to the changing lifestyle of the people in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Horn Systems market Share Analysis
The automotive horn systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive horn systems market.
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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