Key companies covered are Uno Minda, Imasen Electric Industrial Co. Ltd., Wolo Manufacturing Corp, Kleinn Automotive, HELLA KGaA Hueck & CO. and more...
Development of innovative horns by leading industry players will enlarge the global automotive horn market size in the coming years, shares Fortune Business Insights™ in its recent report, titled “Automotive Horn Market Size, Share & Industry Analysis, By Horn Type (Air Horn, Electric Horn), By Design Type (Flat, Spiral, Trumpet), By Vehicle Type (Passenger Cars, Commercial Vehicles) Others and Regional Forecast, 2019-2026”. Horns are a vital component in any vehicle as they perform crucial safety functions for other entities on the road. For instance, in the early days of automobiles, horns were used to make pedestrians and carriages aware of their presence.Today, while the original purpose of horns has not changed, carmakers are innovating on the lines of loudness and robustness of horns, driving the automotive horn market trends as a result.
The report additionally answers the following questions:
- What kind of factors are positively and negatively impacting the market growth?
- What are the key market segments and how are they shaping the market?
- Who are the top companies operating in the market and what are their prime strategies?
- Which are the most promising regions in the market?
- What future prospects and trends are expected to drive the market?
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Increasing Noise Pollution Levels to Hinder Uptake of Vehicle Horns
The automotive horn market growth may face obstacles as the nuisance of car honking is creating multiple problems in urban areas of large cities the world over. One of the most serious issues of honking is that of noise pollution. For instance, the Aurangabad Municipal Corporation released an ‘Environment Status Report’ which stated that during the day, permissible noise levels should at or under 45 decibels, while at night they should not exceed 35 decibels. However, the Center for Science and Environment found that noise levels reach 90 decibels in megacities such as Delhi during peak traffic hours.
Surging Economic Development to Boost Sales in Asia-Pacific
Asia-Pacific is anticipated to dominate the automotive horn market share during the forecast period on account of rapid economic growth and development, which is fueling the demand for enhanced automotive parts in the region. Moreover, the overall automotive industry in the region is prospering, augmenting the market further.
Increasingly stringent safety regulations for vehicles and rising sales for passenger vehicles will be the main driving factors for the market in Europe. In North America, there is a growing preference for horns that are environment-friendly, compelling domestic car manufacturers to innovate.
Strategic Collaborations to Energize Market Competition
Major players in this market are focusing expanding their footprint in the market and diversifying their offerings, according to the automotive horn market report. Companies are accomplishing these goals primarily by entering into collaborations with other players, either domestic or foreign.
For example, the HELLA Loud Car Horns are among the loudest automotive horns in the market currently, having a metal body and a protective grill and an assured high performance. In 2018, FIAMM COMPONENTI ACCESSORI designed the company’s flagship electromagnetic Long Life Horn (LLH) that can be used in both passenger and commercial vehicles. Similarly, the Wolo Bad Boy Air Horn took the market by storm when it was released owing to its latest air horn technology and sonority, all for just $30. Competitive pricing is, therefore, expected to emerge as one of the central bases on which this market will rise.
- January 2020: The German automotive part manufacturer Hella KGaA Hueck had started a joint venture (JV) with China-based BHAP Electronics in 2018 called HELLLA BHAP Electronics. The JV is aimed at enhancing the production capacities of both companies in each other’s territories in the fields of energy, lighting, and automotive components.
- February 2017: UNO Minda, the automotive component maker based in Gurugram, initiated a joint venture with the Japan-based Katolec Corporation. Named Minda Katolec Electronics Services Private Limited, the JV will be based in Pune, India and will work to ensure the development of best-in-class manufacturing of electronics and automotive components.
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Key Players Covered in the Report:
- Uno Minda
- Imasen Electric Industrial Co. Ltd.
- Wolo Manufacturing Corp
- Kleinn Automotive
- HELLA KGaA Hueck & CO.
- Mitsuba Corporation
- Sun Automobile Co. Ltd.
- Robert Bosch GmbH
- Maruko Keihoki Co. Ltd.
- Fiamm S.p.a
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