European Automotive Speaker Market size to hit $1.5 Bn by 2027
Published Date: January 13, 2022 Request a sample
European Automotive Speaker Market size is estimated to surpass USD 1.5 billion by 2027, according to a latest forecast report by Graphical Research. Growing sales of modern commercial vehicles across European countries are propel the market demand. According to the 2019 report by the European Automobile Manufacturers Association (ACEA), commercial vehicle sales in the EU increased by 5.8% from January to June 2019. Automotive speakers in commercial vehicles alert drivers about vehicle performance, stops, and fuel levels, augmenting the driving experience. The rising adoption of wireless & Bluetooth-enabled automotive speakers is contributing to the market growth. The Bluetooth technology allows consumers to connect automotive speakers to their smartphone devices to stream music with high audio quality. There is a high demand for sound systems with embedded voice assistants to enhance entertainment during travels. Browse detailed statistical insights from the report, “Europe Automotive Speaker Market Forecast 2027 By Sales Channel (OEM, Aftermarket), By Type (2-Way Speaker [Component, Coaxial], 3-Way Speaker [Component, Coaxial], 4-Way Speaker), By Vehicle Type (Passenger Car [2-Way Speaker, 3-Way Speaker, 4-Way Speaker], Commercial Vehicle [2-Way Speaker, 3-Way Speaker, 4-Way Speaker]), Research Analysis Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @ https://www.graphicalresearch.com/industry-insights/2040/europe-automotive-speaker-market The COVID-19 pandemic has severely impacted the market growth of automotive speakers in Europe. Stringent travel restrictions and global lockdowns have resulted in product launch delays owing to shortage of components, raw materials & labor and disruptions in the supply chain management. This has caused a temporary shutdown of manufacturing plants and warehouses, hampering delivery time. High-end speaker systems in automobiles witnessed a decline in demand due to a fall in automobile sales. Moreover, high financial insecurities among end-users, such as large industrial buyers and OEMs, hampered the demand for automotive speakers. The demand for 4-way speakers is rapidly growing due to their advantages such as simple wiring, compact design, and enhanced audio output. These speakers are becoming the top choice among buyers owing to their capability to enhance high-frequency sounds. Factors including small size and a significant reduction in vehicle weight are propelling the demand for 4-way speakers in premium vehicles. Moreover, increasing sales of premium and luxury vehicles are anticipated to drive the demand for 4-way speakers over the forecast period. The automotive speaker in European market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments: Europe Market, By Type Europe Market, By Vehicle Type Europe Market, By Sales Channel The above information has been provided for the following countries: