India Automotive Speaker Market to Register Annual Sales of Over 20 Million Units by 2023
Growing
production of passenger cars, increasing demand for premium speakers and rising
online sales to drive India automotive speaker market through 2023
According to TechSci Research report, “India Automotive Speaker Market By Vehicle Type, By Demand Category, Competition
Forecast & Opportunities, 2013-2023”, sales volume in
India automotive speaker
market is forecast to surpass 20.55 million units by 2023. This huge sales
volume is anticipated to be backed by increasing production of passenger
cars and light commercial vehicles in the country, coupled with increasing
consumer preference for premium audio setups and growing passenger car exports from
India, especially to South Asian and South American countries. Growing sales of
middle as well as top variants of passenger cars, which are factory fitted with
automotive speakers, are also
anticipated to aid growth in the automotive speaker market in India during the
forecast period.
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Major automotive speaker manufacturing giants such as Nippon,
Panasonic, JBL, Alpine, Pioneer, etc., are continuously improving and expanding
their product offerings to attract more customers towards their products. Moreover,
Chinese automotive speaker manufacturers are also intensifying their business
operations in India by enhancing the quality of their products. Several automotive speaker
manufacturers are investing heavily in research & development and coming up
with advanced and more affordable versions of their products. All these
developments are anticipated to have a positive impact on the automotive
speaker market in India over the course of next five years.
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“Growing presence of premium international
brands through their authorized distributors and dealers, in addition to
increasing online sales and rising demand for premium speakers, would steer
growth in India automotive speaker market until 2023. Moreover, increasing average
selling price of automotive
speakers and growing production and exports of cars in the country are anticipated to
significantly boost India automotive
speaker market in the foreseeable future.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Automotive Speaker Market By Vehicle Type, By Demand Category, Competition Forecast &
Opportunities, 2013-2023” has analyzed
the potential of automotive speaker market
in India, and provides statistics and information on market size, shares and
trends. The report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the automotive
speaker market across the country.
About TechSci Research
TechSci
Research is a leading global market research firm publishing premium market
research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
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market trends.
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