Acoustic Vehicle Alerting System Market
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The rising deployment of electric vehicles (EVs) all over the world is one of the major factors
responsible for the mushrooming global demand for acoustic vehicle alerting systems.
According to various reports, the sales of electric cars grew by more than 2 million from 2018
to 2019. Furthermore, it was found that more than 7.1 million electric cars were sold around
the world in 2019. By 2030, the total electric car fleet is predicted to rise above 130 million.
With the rising deployment of EVs, because of the increasing concerns being raised over the
escalating pollution levels and the rising implementation of several favorable government
regulations, the requirement for various vehicle components such as acoustic vehicle alerting
systems (AVASs) is surging around the world. Besides these, the rapidly falling costs of the
various components and parts used in EVs are also fueling the sales of AVASs across the
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Because of the aforementioned factors, the sales of AVASs are rising around the world, which
is, in turn, fueling the growth of the global acoustic vehicle alerting system market. According
to the forecast of P&S Intelligence, a market research company based in India, the capacity of
the market will grow at a CAGR of 11.9% between 2020 and 2030. Furthermore, the market
is predicted to reach a valuation of $10,578.8 million by 2030.
Globally, the acoustic vehicle alerting system market is predicted to exhibit the highest growth
in the Asia-Pacific (APAC) region in the forthcoming years. The electric vehicle industry is
currently registering the highest growth in China, with sales of over 90% of the global electric
two-wheeler sales (15 million units of motorbikes, scooters, and mope