Market Research Report
Automotive Premium Audio System
|Automotive Premium Audio System|
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 184 Pages
Delivery time: 1-2 business days
Global Automotive Premium Audio System Market to Reach $120.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Automotive Premium Audio System estimated at US$99.7 Billion in the year 2020, is projected to reach a revised size of US$120.6 Billion by 2027, growing at aCAGR of 2.8% over the period 2020-2027. Luxury Cars, one of the segments analyzed in the report, is projected to record 2.6% CAGR and reach US$62 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mid-Size Passenger Cars segment is readjusted to a revised 2.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $28.8 Billion, While China is Forecast to Grow at 4.4% CAGR
The Automotive Premium Audio System market in the U.S. is estimated at US$28.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$19.7 Billion by the year 2027 trailing a CAGR of 4.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.8% and 2.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.
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