Europe Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Car Audio, Home Audio, Cinema Sound, Sound Reinforcement, and Others) and End-user (Residential and Commercial)

Europe Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Car Audio, Home Audio, Cinema Sound, Sound Reinforcement, and Others) and End-user (Residential and Commercial)

The sub-woofer market in Europe is expected to grow from US$ 128.14 million in 2021 to US$ 154.04 million by 2028; it is estimated to grow at a CAGR of 2.7% from 2021 to 2028. The region has witnessed steady growth in the post-recession era, reflecting a rise in disposable incomes. In western European countries, where consumers have high disposable incomes, the preference for advanced features and technologies integrated into vehicles drives the sales of cars. Luxury cars and autonomous vehicles, enhanced with high-end infotainment systems and technologies, are driving car sales in Europe. As per the Center for Automotive Research (CAR), automakers—including GM, Hyundai, FCA, Ford, Nissan, Toyota, and Volkswagen—announced substantial investment projects of US$ 4.8 billion in these regions in 2018. Car manufacturers are focusing on integrating sophisticated in-vehicle infotainment systems to provide differentiated services to their customers. Advancements in artificial intelligence-based (AI-based) products, coupled with the development of smartphone connectivity feature in the automotive sub-woofer, is expected to drive the market during the forecast period. Further, the sales of these cars are expected to increase in coming years due to the rising uptake of private vehicles to avoid social contact in public transport to avoid exposure to SARS-CoV-2. A surge in the adoption of in-vehicle infotainment systems in cars is fueling the growth of the sub-woofer market.

The others segment led the Europe multimodal image fusion software market, based on application, in 2020. The other application for sub-woofers includes bass instruments amplification, full-range system, and others for outdoor events and commercial purpose. The main factor aiding the growth for this segment is rising number of outdoor events such as music concerts, DJ’s events, marriage events, and festive events across different regions. However, during the COVID-19 pandemic the outdoor events have witnessed a huge negative impact owing to the strict lockdown and stringent regulations issued by government across different countries. Moreover, the reopening of public places across different regions in 2021 has driven the market for this segment in 2021 which is again expected to decline again in 2022 owing to new stringent rules issued by the government of different countries.

The impact of COVID-19 varied from country to country across the European region, as selected countries witnessed a surge in number of confirmed cases and subsequently attracted stringent as well as longer lockdown periods or social isolation. However, western European countries such as Germany, France, Russia, the UK witnessed a comparatively moderate decline in their production activities owing to robust healthcare infrastructure. The imbalance in the demand and supply sides, and the lockdown phase in several European countries hindered the sub-woofer market progress in 2020. The shutdown of production plants and scarcity of laborers resulted in the lesser production of products. Moreover, the immediate effects of the crisis have been diverse and have affected almost all the main branches of the audiovisual sector, ranging from the interruption of ongoing production projects to the shutdown of cinemas. Cinemas across the European Union saw a 69.0% drop in box-office numbers in 2020, accounting for a total decrease of €4 billion in revenues compared to 2019.

The Europe sub-woofer market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the Europe sub-woofer market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Europe sub-woofer market. Dynaudio A/S, Harman International, JVC Kenwood Holdings Inc., K-Array, Klipsch Group Inc., LW Speakers Professional Sound Systems, Paradigm Electronics Inc., Sony Corporation, and SV Sound are among a few players operating in the market in this region.

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