Global Car Audio Speakers Market Size, Share, and Trends Analysis Report, By Type (Speakers, Amplifiers, and Others) and By Application (Passenger Vehicles and Commercial Vehicles), Forecast (2022-2028)

The global car audio speakers market is anticipated to grow at a significant CAGR of 4.0% during the forecast period (2022-2028). The global car audio speaker market is growing due to the changing consumer lifestyle and shifting trends towards the onboard entertainment system. The increasing demand for automobile speakers and entertainment systems in public transport to listen while traveling is also driving the growth of the market.

The global demand for premium audio systems in their vehicles is generating new opportunities for the market. Innovations of wireless technology give superior driving experience with advanced voice-controlled assistance, such as Siri and Alexa. The rising adoption of IoT and other advancements in technology is further generating new opportunities for development in the market.

The Asia-Pacific region is anticipated to hold the major share in the global car audio speakers market. The Asia-Pacific region has the largest market for passenger vehicles. The increasing disposable income in emerging economic countries as well as increased urbanization is boosting the market growth in this region. India and China are the major contributing nations to the Asia-Pacific car audio speakers market.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-

• In September 2021, Harman International Industries, Inc. announced the launch of the JBL Club 605 CSQ – car speaker system and JBL Celebrity 100 – Bluetooth enabled car media player.
• In July 2021, Pioneer Corp. announced the launch of 2021 Hi-Res special edition car component speakers TS-VR170C, TS-V170C, and TS-J170C.
• In September 2020, Yamaha Corp. announced the launch of Yamaha’s automotive sound system to bring a superior sound experience to Lynk & Co. new electric vehicle.

Market Coverage

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Clarion Computers Pvt. Ltd., Panasonic India Pvt. Ltd., HARMAN International, Pioneer Corp., SV Automotive Engineering, and Burmester, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Car Audio Speakers Market Report by Segment

By Type

• Speakers
• Amplifiers
• Others

By Application

• Passenger Vehicles
• Commercial Vehicles