The global automotive horn market is anticipated to grow at a significant CAGR of 7.3% during the forecast period. The rising number of vehicles across the globe is the prominent factor driving the demand and growth of the automotive horn market. According to India Brand Equity Foundation (IBEF), India’s annual production of automobiles in 2021 was around 22.65 million vehicles and in September 2021 the Indian Government passed a notification regarding a PLI scheme for automobile and auto components worth Rs. 25,938 crore (US$ 3.49 billion). Aaprt from these, OEMs are focusing on manufacturing of low cost horns which is the other growth factor that can bring new opportunities to the market during the expected forecast.
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COVID-19 has impacted almost every industry drastically including automotive and transporation across the globe. The pandemic created hurdles for international trade and transportation and restricted travel which disrupted the supply chain for most of the industry and the automotive horn market as well.Due to government restriction on mobility and temporapry halt in new vehicle production, the demand for new horn get degrade which lead to the declination in market growth.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Automotive Horn Market by Horn TYpe
- Air Horn
- Electric Horn
Global Automotive Horn Market by Design Type
- Flat
- Spiral
- Trumpet
Global Automotive Horn Market by Vehicle Type
- Passenger Cars
- Commercial Vehicles
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- FIAMM Energy Technology S.p.A.
- INFAC CORP
- Kleinn Air Horns
- MIYAMOTO ELECTRIC HORN CO., LTD.
- SORL Auto Parts, Inc.
- Sun AutomobileCo. Ltd.
- UNO Minda
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive horn market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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