Acoustic Electric Vehicle Alerting Systems (AEVAS)

Acoustic Electric Vehicle Alerting Systems (AEVAS)

The Acoustic Electric Vehicle Alerting System (AVAS) is an acoustic device producing a sound like that of a conventional ICE vehicle at a speed velocity of up to 30 kilometers per hour when moving forward and up to 6 kilometers per hour when backing up. In this manner, the public can use a pleasant sound to be informed that an all-electric bus is near or already in the area.

The Acoustic Electric Vehicle Alerting Systems Market is growing at a steady rate of 11.66% during the forecast period, driven by the burgeoning adoption of electric vehicles globally, improving the perception of eActros, and increased safety regulations. Governments around the world are implementing various laws and electric vehicle safety regulations are one of the most crucial ones. Likewise, combustion engine electric vehicles do not produce sound while running, as a result, pedestrians are not aware of vehicles around them. To ensure the safety of pedestrians governments are mandating the installation of acoustic vehicle alerting systems that produce sound and alert pedestrians to the presence of electric drive vehicles. For instance, since July 2019, the European Union made it mandatory for all newly developed electric vehicles such as battery electric vehicles, hybrid electric vehicles, and fuel cell electric vehicles to mount an acoustic warning system. Therefore, with the growing demand for electric vehicles, the demand for acoustic vehicle alerting systems continues to grow in the forecast period.

• Based on vehicle type, the market is segmented into passenger vehicles and commercial vehicles. The passenger vehicle segment dominated the market in 2023 and is expected to dominate in the forecast period. The major factors contributing to the growth of the market include improved battery technology, expanding charging infrastructure, stricter emission regulations, growing government incentives, and expanding model choices. Battery technology is one of the most crucial factors that helps electric vehicles to grow significantly. Companies operating in the industry are trying to improve the electric vehicle range through the advancement in battery technology. Additionally, electric vehicle manufacturers are expanding their production capacity and product line to grab the untapped potential market and increase their market share. For instance, in 2024, according to CarDekho, around 47 electric cars will be launched in India between 2024-2026. This will create an immense demand for acoustic vehicle alerting systems in the forecast period.
• Based on the propulsion type, the market is segmented into battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. The battery-electric vehicle segment dominated the acoustic-electric vehicle alerting systems in 2023 and is expected to behave similarly in the forecast period. The major factors contributing to the growth of the segment include the price difference between BEVs, HEVS, PHEVs, and FCEVs. Out of all the BEVs are the most affordable, due to this major automaker have invested hefty amounts in BEV production. Additionally, consumer preferences for BEVs over others have more due to lower operating costs and environmental concerns have increased the demand for the acoustic vehicle alerting system. For instance, in 2024, according to the report published by IEA (International Energy Agency), a total of 9.5 million battery electric vehicles sold in 2023 and 4.3 million plug-in hybrid electric vehicles sold in 2023, which is almost 2 times greater. Therefore, the burgeoning adoption of battery electric vehicles propels the market growth.
• Based on sales channel, the market is bifurcated with OEM and aftermarket. The OEM segment dominated in 2023 and is expected to behave similarly in the forecast period. One of the major factors contributing to the growth of the OEM segment includes the government mandate. Governments around the world particularly in Europe and the U.S. have made it compulsory for manufacturers to install alerting systems for the safety of pedestrians. This mandate has come as a standard feature in electric vehicles which has created a significant demand for these alerting systems. Additionally, due to the government mandate as a standard feature, manufacturers are focused on advances in acoustic technology. Major manufacturers are trying to develop more effective and efficient AVAS which could be integrated into vehicle design. Therefore, with the burgeoning adoption of electric vehicles, the advances in the AVAS system will increase pedestrian safety and make it more appealing to manufacturers and consumers.
• For a better understanding of the market of Acoustic Electric Vehicle Alerting Systems, the market is analyzed based on its worldwide presence in countries such as North America (The US, Canada, and Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia Pacific acoustic electric vehicle alerting system market is expected to dominate in the forecast period. The automobile industry in Asia Pacific has been improving dramatically due to an increase in middle-income earners and better income per capita. China, India, and Indonesia have recorded drastic increases in car sales some of which have posted double-digit growth rates in the recent past. This increased demand has been a catalyst for acoustic vehicle alerting systems that are essential subsystems in current automobiles. Furthermore, all governments of the region have been extending enormous incentives to sustain the automotive industry through various schemes and policies. For instance, the Chinese authorities have enhanced the policy goals to support liberal taxation & subsidies such as providing premium tax incentives for the development of electric cars (EVs). This has made the demand for EVs high in China making it the market leader in the world. For instance, in 2024, according to the report published by the IEA (International Energy Agency), a total of 8.1 million electric vehicles were sold in China in 2023, compared to 5.9 million in 2022. Furthermore, technological development and innovation have contributed equally to the market expansion of the Asia Pacific region.
• Some of the major players operating in the market include Brigade Electronics Group Plc, HARMAN International, Continental AG, Texas Instruments Incorporated, DENSO ELECTRONICS CORPORATION, HELLA GmbH & Co. KGaA, THOR, STMicroelectronics, Daimler Truck AG, and ESI Group.