Automotive Audio Speakers Market Size to Grow by USD 6.37 billion | Availability of Cost-effective Aftermarket Speakers to Boost Market Growth | Technavio

·10 min read

NEW YORK, July 4, 2022 /PRNewswire/ -- Automotive audio speakers are part of an integrated audio system in an automobile. They are usually offered as standard original equipment manufacturer (OEM) fitments or as an option for upgrading the in-car infotainment system following the purchase of a vehicle.

Technavio has announced its latest market research report titled Automotive Audio Speakers Market by Application and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Automotive Audio Speakers Market by Application and Geography - Forecast and Analysis 2021-2025

The potential growth difference for the automotive audio speakers market between 2020 and 2025 is USD 6.37 bn. The year-over-year growth rate of the market in 2021 was 7.29%.

Five Forces Analysis

Threat of new entrants: Access to distribution channels is low, and the capital requirements are high. Hence, the threat of new entrants is low. The threat of new entrants is based on the entry barriers within the global automotive audio speakers market. A low threat of new entrants in 2020 indicates a high entry barrier, and the barrier to entry will continue to remain high by 2025.

Key Market Dynamics:

  • Market Driver: The availability of cost-effective aftermarket speakers is driving the growth of the market. In the last decade, macro-economic factors such as consistent demand for commercial vehicles in mature markets and the rise of potential buyers in emerging markets have led to record sales of passenger cars and commercial vehicles. Affordable car ownership models, high employment rates, and improving economic conditions have increased the competition in the global automotive market. Owing to such developments, automakers are offering differentiated features in their product offerings. Thus, the growing demand for aftermarket audio systems is expected to drive the global automotive audio speakers market during the forecast period.

  • Market Challenge: Design complexities and high costs of advanced automotive audio systems are challenging the automotive audio speakers market growth. OEM-fitted premium audio systems in luxury and premium cars include numerous speakers, amplifiers, and tweeters. These systems include advanced touchscreen systems. Many consumers are unable to afford such system due to high prices, which can hinder the growth of the global automotive audio speakers market.

To learn about additional key drivers, trends, and challenges available with Technavio. Read our Sample Report right now!

Market Segmentation

The automotive audio speakers market report is segmented by application (passenger vehicles and commercial vehicles) and geography (APAC, Europe, North America, South America, and MEA).

By application, the passenger vehicles segment will have significant market share growth during the forecast period. There is a strong demand for passenger cars in emerging economies such as Brazil, China, and India, with the increase in consumer purchasing power from rising per capita income and economic growth.

By geography, APAC will be the leading region with 57% of the market's growth during the forecast period. China and Japan are the key countries for the automotive audio speakers market in APAC.

View our sample report for additional insights into the contribution of all the segments and regional opportunities in the report.

Some Companies Mentioned

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Automotive Audio Speakers Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.29%

Market growth 2021-2025

USD 6.37 billion

Market structure

Fragmented

YoY growth (%)

6.67

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 57%

Key consumer countries

China, US, Germany, Japan, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alpine Electronics Inc., B & W Group Ltd., Bose Corp., Clarion Co. Ltd., Continental AG, JVCKENWOOD Corp., Panasonic Corp., Pioneer Corp., Samsung Electronics Co. Ltd., and Sony Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem

  • 2.2 Value chain analysis

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2020

  • 3.4 Market outlook: Forecast for 2020 - 2025

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Application

  • 5.1 Market segments

  • 5.2 Comparison by Application

  • 5.3 Passenger vehicles - Market size and forecast 2020-2025

  • 5.4 Commercial vehicles - Market size and forecast 2020-2025

  • 5.5 Market opportunity by Application

6 Customer landscape

  • 6.1 Overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 APAC - Market size and forecast 2020-2025

  • 7.4 Europe - Market size and forecast 2020-2025

  • 7.5 North America - Market size and forecast 2020-2025

  • 7.6 South America - Market size and forecast 2020-2025

  • 7.7 MEA - Market size and forecast 2020-2025

  • 7.8 Key leading countries

  • 7.9 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Landscape disruption

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Alpine Electronics Inc.

  • 10.4 B

  • 10.5 Bose Corp.

  • 10.6 Clarion Co. Ltd.

  • 10.7 Continental AG

  • 10.8 JVCKENWOOD Corp.

  • 10.9 Panasonic Corp.

  • 10.10 Pioneer Corp.

  • 10.11 Samsung Electronics Co. Ltd.

  • 10.12 Sony Corp.

  • W Group Ltd.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Currency conversion rates for US$

  • 11.3 Research methodology

  • 11.4 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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