Electric Motor Horn Market

Electric Motor Horn Market Size

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The Global Electric Motor Horn market size was USD 18 billion in 2021 and projected to grow from USD 19.8 billion in 2023 to USD 30.3 billion by 2032, exhibiting a CAGR of 4.9% during the forecast period.

An electric motor horn is device used to produce sound. Electric motor is helpful in transforming electric energy into mechanical energy and is used in vehicles. It is utilized in automobiles, trains etc. It has a horn button, an electric motor, and a diaphragm. The electric motor helps in produces a loud sound when the button is pressed. The working of this horn is on the principle of electromagnetism where mechanical energy helps in creating noise and used as alerting device which are installed in automotive vehicles. They help in maintaining safety of the vehicle by warning others while they approach. Electric Motor Horn also assist in reducing distractions of driver due to the sound they produce and alert even pedestrians and the horn can also be customized.

Market Highlights

Global Electric Motor Horn Market is expected to project a CAGR of 4.9% during the forecast period, 2022-2032

The Global Electric Motor Horn Market is expected to reach USD 30.3 billion at a CAGR of 4.9% during forecast period owing to the increased use of electric motor horn in automotive vehicles which is a key component of the vehicle. The market is also expected to witness growth due to the increased road accidents and to increase road safety awareness. The initiatives taken by government to reduce road accidents for safety of the vehicles by implementing regulatory norms will propel market growth.

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Global Electric Motor Horn Market Segmentation:

Flat horn segment is expected to grow with high CAGR during the forecast period

The Global Electric Motor Horn Market is classified based on the product into flat, spiral, and trumpet. The flat horn segment holds the largest market share and is expected to dominate even during the forecast period. The size of the Flat horns is smaller and have a better life when compared to other horns like spiral & trumpet type. Several innovations are made for focusing on horns which are audible at a long distance.

Passenger car segment is expected to grow with high CAGR during the forecast period

The Global Electric Motor Horn Market is classified based on the end Use Vehicle into Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV). The passenger car segment holds the largest market share and is expected to dominate even during the forecast period in the automotive horn market, owing to rising sales of vehicles globally.

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Market Dynamics:

Growth Drivers

Increasing Demand for Electric Vehicles is Expected to Boost the Market Growth

The global electric motor horn market is growing owing to the rising demand for vehicles. The increasing government emission norms & regulations for setting up horns for vehicles are fueling the market growth. The technological advancements and invention of new products pertaining to vehicles and horn are providing a growth opportunity to the Global Electric Motor Horn market.

Rising Advanced Technologies In Horns is Expected to Boost the Growth of the Market

The demand for vehicles is increasing and the awareness about safety and security is growing owing to the increasing adoption of advanced technologies in horns which is responsible for driving the growth of this market. To improve vehicle safety, Governments of various regions are focusing on increasing the regulations by making the use of horns mandatory in vehicles which boosts the Original Equipment Manufacturers (OEMs) to focus on new innovations and to develop more advanced horns, which would propel the global vehicle horn market growth.

Restraint

Improper Wiring May Restrain the Market Growth

The tendency of electric motor horns is, they may lead to blown fuses which is a common problem. These horns are operated with electric power and if the fuse gets blown, the electricity won’t get through, resulting in the horn to stop working. Few problems which lead to a blown fuse are overloaded circuit, damaged wiring, and short circuits.

Recent Developments:

• Key players of Global Electric Motor Horn Market are investing in research and development activities to introduce innovative products and overcome the surging demand. Players are focusing on mergers and acquisitions with local companies to increase access to new technology and new products.
• Few start-up industries are focusing on collecting funds from government for the development of innovative products.

Global Electric Motor Horn Market  Key Players Covered:

• FIAMM Technologies, L.L.C.
• Mitsuba Corp.
• Robert Bosch GmBH
• MARUKO KEIHOKI Co., LTD.
• Shanghai SIIC Transportation Electric Co., Ltd.
• Roots Industries India Limited
• HELLA GmbH & Co. KGaA
• UNO Minda Group
• Wolo Manufacturing Corp.
• SEGER Horns
• Denso Corporation
• Imasen Electric Industrial Co., Ltd.
• Other Prominent Players

(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Global Electric Motor Horn Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific dominated the market in 2021 and is also expected to dominate the forecast period by generating the highest market share owing to increasing production and sales of automobiles across developing countries in the region along with the increasing demand for HCVs is expected to aid growth of the market. The increasing awareness about impact of carbon emissions on environment is expected to create demand for electric vehicles.

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Impact of Covid-19 on Global Electric Motor Horn Market

Global Electric Motor Horn Market is affected hugely by the COVID-19 pandemic. It proved to be the worst nightmare for automotive sector and as result, the market for Global Electric Motor Horn also witnessed the similar impact on the demand. This was a result of partial or complete shutdown of the production facilities, restricted movement of goods, imposition of ban on export and import activities, and closing of showrooms which had a negative impact on the Global Electric Motor Horn market.

Global Electric Motor Horn Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Electric Motor Horn Market report also contains analysis on:

Global Electric Motor Horn Market Segments:

• By Product
  • Flat Type
  • Spiral Type
  • Trumpet
• By Sound Pressure/Volume
  • Up-to 110 dB
  • 110 dB to 118 dB
  • Greater than 118 dB
• By Sales channel
  • Original Equipment Manufacturers (OEM)
  • Aftermarket
• By End Use Vehicle
  • Passenger Cars
  • Light Commercial Vehicles (LCV)
  • Heavy Commercial Vehicles (HCV)
• Global electric motor horn market Dynamics
• Global electric motor horn market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Global Electric Motor Horn Market Scope and Segmentation

Frequently Asked Questions (FAQ):