The automotive horn systems market is projected to grow significantly, rising from $0.71 billion in 2023 to $0.77 billion in 2024, at a CAGR of 9.2%. This growth can be linked to increased vehicle production, rising safety demands, and the expansion of commercial vehicle fleets. By 2028, the market is expected to reach $1.11 billion, growing at a CAGR of 9.3%. Key drivers include the demand for advanced driver assistance systems (ADAS) and a focus on pedestrian safety regulations.
Major Driver In The Automotive Horn Systems Market
The automotive rear seat reinforcement market is poised for growth, fueled by the rising popularity of luxury vehicles. As disposable incomes increase, consumers are seeking premium features that enhance comfort and performance. Rear seat reinforcements in luxury cars provide essential structural support and crash protection. Porsche AG reported delivering 80,767 cars in Q1 2023, an 18% increase from the same quarter in 2022, with notable growth in major regions, including a 30% rise in North America. This surge in luxury vehicle sales is expected to drive the automotive rear seat reinforcement market.
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Automotive Horn Systems Market Competitive Landscape
Ford Motor Company, SAIC Motor Corporation Limited, Robert Bosch GmbH, BYD Company Limited, Denso Corporation, AB Volvo, Subaru Corporation, Valeo SA, BorgWarner Inc, HELLA GmbH & Co. KGaA, Minth Group Limited, Littelfuse Inc., Mitsuba Corporation, Nippon Seiki Co. Ltd., Uno Minda Limited, SORL Auto Parts Inc., Imasen Electric Industrial Co. Ltd., Mikuni Corporation, Hadley, FIAMM Energy Technology S.p.A., Wolo Manufacturing Corporation, Kobra Horns, Roots Industries India Limited, Kleinn Automotive Accessories, Vixen Horn
Key Automotive Horn Systems Market Trend
The automotive horn systems market is witnessing innovation with the introduction of trumpet horns, which enhance sound quality and durability. Known for their loud, resonant output, trumpet horns are favored by vehicle owners for their attention-grabbing alerts. In April 2024, Uno Minda Limited, an India-based auto parts manufacturer, unveiled the C80 trumpet horn, utilizing advanced European technology to deliver over 105 decibels of sound. This new product is compatible with various car models, responding to increasing market demand.
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Automotive Horn Systems Market Segmentation
The automotive horn systems market covered in this report is segmented –
1) By Product: Air Horn, Electric Horn
2) By Horn Shape: Flat, Spiral, Trumpet
3) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
By Geography:The regions covered in the automotive horn systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the automotive horn systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Automotive Horn Systems Global Market Report 2024 furnishes information about the global automotive horn systems market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
