NEWARK, Del, July 14, 2022 (GLOBE NEWSWIRE) -- Electric motor horns are steadily becoming more popular as people turn to avoid accidents on the road. The global Electric motor horns market for these devices will expand over the next couple years, with an anticipated value of US$ 35.1 billion in 2022 and growth at 5.7% annually through 2032
A recent study found that use electric cars due growing safety concerns among drivers is likely responsible not only for this rise but also driving up sales numbers around world! sales of electric motor horns are expected to reach US$ 56.3 Bn by 2032
Electric motor horn is a device used in a vehicle which transforms electric energy into mechanical energy. The working of an electric motor horn is based on the principle of electromagnetism, in which mechanical energy helps to create a loud noise.
An electric motor horn works as a safety device in a vehicle to alert other vehicles or pedestrians to avoid accidents or collisions. Electric motor horns are widely used in almost all types of vehicles such as passenger cars and light as well as heavy commercial vehicles due to their easy installation.
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Also, electric motor horns can be customized as per client requirements. The life cycle of an electric motor horn is higher as compared to other horns present in the market such as air horns.
There are three major types of electric motor horns present in the market such as flat type horns, spiral type horns, and trumpet horns. Flat type horns are comparatively more reliable and cost-effective. Spiral type horns are better than other horns in terms of voltage, wire length, and versatility. However, trumpet horns are the loudest horns among others.
Electric Motor Horn Market: Dynamics
A horn is an essential component of a vehicle and the demand for electric motor horns is rising due to the increasing road safety awareness and manufacturer efforts to minimize road accidents by improving the safety of the vehicle. Furthermore, the growing automotive industry is the major factor among all contributing factors in the growth of the electric motor horn market.
It is expected to significantly drive the growth of the electric motor horn market over the forecast period. Additionally, government regulations regarding road safety and vehicle standards such as Federal Motor Vehicle Safety Standard, are also expected to push the growth of the electric motor vehicle market.
However, some electric motor horns have a short life cycle depending upon their uses. Also, the sound pollution caused by horns is expected to hamper the growth of the electric motor horn market over the forecast period.
Electric Motor Horn Market: Regional Outlook
The Asia Pacific region is expected to have a significant share in the electric motor horn market owing to the increasing automotive sales and production in the region. China is projected to be the most attractive automotive market in the region and expected to attribute towards the growth of the electric motor horn market in the region.
The demand for vehicles with electric motor horns in the North America region is increasing, supported by the growing automotive sales in the region. This is expected to push the electric motor horn market in the region.
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Furthermore, in Europe, stringent regulations about road safety and the growing automotive industry in the region are expected to drive the growth of the electric motor horn market over the forecast period. The Middle East & Africa and Latin America are also expected to register promising growth in the electric motor horn market over the forecast period.
Electric Motor Horn Market: Market Participants
Some of the market participants in the global electric motor horn market are:
- Robert Bosch GmBH
- Mitsuba Corp.
- UNO Minda Group
- Wolo Manufacturing Corp.
- HELLA GmbH & Co. KGaA
- Roots Industries India Limited
- Denso Corporation
- FIAMM Technologies, L.L.C.
- MARUKO KEIHOKI Co., LTD.
- SEGER Horns
- Imasen Electric Industrial Co., Ltd.
- Shanghai SIIC Transportation Electric Co., Ltd.
The research report presents a comprehensive assessment of the electric motor horn market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The electric motor horn market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Electric Motor Horn Market: Segmentation
The electric motor horn market can be segmented into product type, end-use vehicles, sound pressure/volume, sales channel, and region.
On the basis of product type, the global electric motor horn market is segmented into:
- Flat Type
- Spiral Type
- Trumpet
On the basis of end-use vehicles, the global electric motor horn market is segmented into:
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
On the basis of sound pressure/volume, the global electric motor horn market is segmented into:
- Up-to 110 dB
- 110 dB to 118 dB
- Greater than 118 dB
On the basis of sales channel, the global electric motor horn market is segmented into:
- Original Equipment Manufacturers (OEM)
- Aftermarket
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