The automotive horn systems market size is expected to see strong growth in the next few years. It will grow to $1.11 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. Forecasted growth is driven by increased demand for advanced driver assistance systems (ADAS), expansion of the automotive sector in emerging markets, heightened focus on pedestrian safety regulations, growth in automotive aftermarket sales, and growing consumer demand for vehicle safety features. Key trends expected in the forecast period include the adoption of electric and hybrid vehicles, integration of smart horn systems for vehicle safety, advancements in acoustic and materials technology, and innovations in horn sensor technology.
The growing preference for luxury cars is expected to drive the expansion of the automotive horn systems market. Luxury cars are high-end vehicles that offer exceptional comfort, performance, advanced technology, and superior materials. The demand for luxury cars is fueled by rising disposable incomes and a desire for status, prestige, and technological advancements. Automotive horn systems enhance luxury cars by providing excellent sound quality, reliability, and seamless integration with the vehicle's safety and communication systems, improving functionality and the overall driving experience. For example, according to the International Energy Outlook 2023 report by the US Energy Information Administration (EIA), luxury vehicles made up 18% of all new vehicle sales in the second quarter of 2023, up from 14% in 2020. Thus, the increasing preference for luxury cars is boosting the automotive horn systems market.
Leading companies in the automotive horn systems market are developing innovative products, such as the trumpet horn, to improve sound quality, durability, and aesthetic appeal. Trumpet horns are known for their loud, resonant sound similar to a trumpet, providing a powerful output chosen by vehicle owners for effective alerts. For instance, in April 2024, Uno Minda Limited, an India-based auto parts manufacturer, introduced the C80 trumpet horn, which incorporates advanced European technology to deliver high-quality sound with an output exceeding 105 decibels. It is compatible with various car models, representing a significant advancement in the automotive aftermarket and meeting the increasing market demand.
In August 2021, Faurecia S.E., a French automotive manufacturing company, acquired Hella GmbH & Co. KGaA for an undisclosed sum. This strategic move is aimed at strengthening Faurecia's position in the automotive market by integrating Hella's expertise in lighting and sensor systems. By doing so, Faurecia intends to enhance its ability to provide advanced mobility solutions and leverage synergies in technology and sustainability initiatives. Hella GmbH & Co. KGaA, headquartered in Germany, specializes in manufacturing automotive horns, sensors, and lighting solutions.
Major companies operating in the automotive horn systems market are 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.
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 regions covered in the automotive horn systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries 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.
Automotive horn systems encompass electronic and pneumatic devices installed in vehicles. These systems are designed to emit sound signals for communication and warnings, serving to alert pedestrians and other drivers, signal emergencies, facilitate road communication, enhance safety by improving awareness of hazards, and ensure compliance with safety regulations.
The primary types of automotive horn systems are air horns and electric horns. An air horn operates by utilizing compressed air to generate a loud and powerful sound. These horn systems are available in various configurations such as flat, spiral, and trumpet shapes, catering to passenger vehicles, light commercial vehicles, and heavy commercial vehicles. They are distributed through multiple channels including original equipment manufacturers (OEMs) and the aftermarket.
The automotive horn systems market research report is one of a series of new reports that provides automotive horn systems market statistics, including automotive horn systems industry global market size, regional shares, competitors with a automotive horn systems market share, detailed automotive horn systems market segments, market trends and opportunities, and any further data you may need to thrive in the automotive horn systems industry. This automotive horn systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive horn systems market consists of sales of electromagnetic horns, disc horns, snail horns, multi-tone horns, horn buttons. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Automotive Horn Systems Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on automotive horn systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for automotive horn systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive horn systems market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product: Air Horn; Electric Horn2) 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
Key Companies Mentioned: Ford Motor Company; SAIC Motor Corporation Limited; Robert Bosch GmbH; BYD Company Limited; Denso Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | September 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 0.77 Billion |
Forecasted Market Value ( USD | $ 1.11 Billion |
Compound Annual Growth Rate | 9.3% |
Regions Covered | Global |