Major automotive speaker market players include Sony Corporation, Pioneer Corporation, Clarion Co., Ltd., Panasonic Corporation, Kenwood Corporation, Alpine Electronics, Inc., Continental Aktiengesellschaft (AG), Bose Corporation, Harman International Industries, ELETTROMEDIA SRL, Blaupunkt GmBH, Bowers & Wilkins, Ltd., Dynaudio A/S, Focal JMLAB, and JL Audio, Inc.
Pune, India, Jan. 18, 2022 (GLOBE NEWSWIRE) --
The global automotive speaker market size is anticipated to expand at substantial CAGR during the forecast period, as the automotive sector is undergoing major technological developments. More and more customers are looking for advanced features in their vehicles, such as smart speakers and audio systems. Since there are a variety of automotive speakers available at affordable rates, their demand is expected to rise. Below mentioned are the region-wise trends positively influencing industry forecast:
North America (regional valuation may go past $1.5 billion):
Robust adoption of 3-way automotive speakers:
3-way automotive speakers are expected to hold a large share of the North America market by 2027. One of the major reasons behind this is their ability to reproduce high-volume and clear sounds. They provide a woofer, mid-range driver woofer, and a separate tweeter to increase a driver’s control on the audio frequency range. 3-way automotive speakers improve the surround-sound experience for drivers, thereby stimulating their demand.
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Purchase of luxury cars rises:
The regional automotive speaker market outlook will be powered by the growing sale of luxury cars. Reputed companies, such as Bose Corporation, Dirac Research, and Harman Industries are entering into partnerships with luxury car makers to offer innovative car speakers. These collaborations will ensure that a customer’s overall driving experience is enhanced using automotive speakers that offer an immersive listening experience, which will bolster the adoption of smart automotive speakers.
Growing disposable income boosts automotive speaker demand:
The region is witnessing a robust growth in the average disposable income of the population due to the rising urbanization and industrialization activities. It has hiked the purchase of luxury vehicles. Luxury vehicle manufacturers use innovative and high-quality automotive speakers that not only help customers in carefully navigating through heavy traffic, but also improve their overall travel experience, thereby fueling their installation in high-end cars.
Asia Pacific (regional valuation may surpass $3 billion):
COVID-19 effect on the demand for automotive speakers:
The COVID-19 pandemic had a negative impact on the Asia Pacific automotive speaker market share as governments had imposed stringent lockdown and movement restrictions. It resulted in the temporary closing of manufacturing plants due to the severe shortage of raw materials and manpower.
The demand for vehicles also saw a steep decline in the first half of 2020 as people were forced to stay indoors to avoid getting infected by the virus, which ultimately had an adverse effect on the production of automotive speakers in the region. However, as the current situation is consistently improving due to the large-scale vaccination drives, the APAC market share is anticipated to gain momentum in the coming years.
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High use of automotive speakers in passenger cars:
Passenger cars are projected to capture a sizeable share of the market by 2027. One of the main factors contributing to it is the rising per-capita income of the population. Since a large percentage of people are migrating to cities, their demand for vehicles with innovative capabilities is likely to increase at a robust rate. The need to have smart infotainment systems, advanced safety features, and ADAS driving assistance is growing among customers, thereby boosting the adoption of automotive speakers in passenger cars.
Demand for 2-way automotive speakers rises:
2-way automotive speakers may hold a significant share of the regional market by 2027. These speakers are compact and incur lower initial costs as compared to advanced ones with many drivers. 2-way speakers can divide high and low range frequencies with the help of a separate tweeter and woofer, thereby enhancing the sound output. They also consist of an integrated electronic crossover circuit that can aid users in controlling the frequency range for greater clarity, which will enhance the demand for 2-way automotive speakers.
Europe (regional valuation expected to reach $1.5 billion):
Commercial vehicles may extensively use automotive speakers:
The European automotive speaker market size from commercial vehicles is predicted to record a strong CAGR over 2021-2027. The sale of commercial vehicles is growing at a notable rate every year. Smart automotive speakers are being increasingly installed across buses and trucks to improve the safety of drivers and offer them a wide range of entertainment options.
These speakers are equipped with proximity sensors that can help drivers in smoothly navigating through heavy traffic routes, thereby reducing the incidence of accidents. Automotive speakers also inform passengers in buses and trains about the upcoming stops, estimated arrival time, and many other important travel updates, which may positively influence their adoption.
Access sample pages of the report, “Europe Automotive Speaker Market Forecasts 2027” in detail along with the table of contents (ToC) @
Aftermarket sales channels gain momentum among end-users:
Aftermarket sales channels are likely to capture a major share of the Europe industry by 2027. Customers can buy spare parts and avail other services at reasonable prices. Aftermarket distributors supply individual parts, such as amplifiers, speakers, and sound processors to a wide range of automotive manufacturers. Many clients are switching to aftermarket speakers to improve the performance of factory-installed sound systems, thereby augmenting their use in high-end vehicles.
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