Canada: Vehicle Radio Market 2025

Vehicle Radio Market Size in Canada

In 2022, the Canadian vehicle radio market decreased by -24.1% to $X, falling for the third consecutive year after three years of growth. Overall, consumption continues to indicate a deep setback. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Vehicle Radio Exports

Exports from Canada

Vehicle radio exports from Canada declined notably to X units in 2022, falling by -24.6% compared with the previous year. Over the period under review, exports showed a noticeable slump. The pace of growth appeared the most rapid in 2018 with an increase of 124%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, vehicle radio exports expanded rapidly to $X in 2022. Overall, exports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2018 when exports increased by 130%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for vehicle radio exports from Canada, with a 74% share of total exports. Moreover, vehicle radio exports to the United States exceeded the volume sent to the second major destination, Israel (X units), sevenfold. The third position in this ranking was taken by Cuba (X units), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+446.9% per year) and Cuba (+36.0% per year).

In value terms, the United States ($X) remains the key foreign market for radio receivers for motor vehicles exports from Canada, comprising 78% of total exports. The second position in the ranking was held by Israel ($X), with a 9.9% share of total exports. It was followed by Belgium, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+720.3% per year) and Belgium (+64.3% per year).

Export Prices by Country

The average vehicle radio export price stood at $X per unit in 2022, surging by 41% against the previous year. In general, the export price posted a remarkable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 163%. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Cuba ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+50.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Radio Imports

Imports into Canada

In 2022, purchases abroad of radio receivers for motor vehicles decreased by -28.7% to X units, falling for the third year in a row after three years of growth. In general, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 50% against the previous year. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, vehicle radio imports dropped sharply to $X in 2022. Overall, imports showed a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 54%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of vehicle radio to Canada, with a 64% share of total imports. Moreover, vehicle radio imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X units), fourfold. China (X units) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-4.9% per year) and China (-14.4% per year).

In value terms, the United States ($X) constituted the largest supplier of radio receivers for motor vehicles to Canada, comprising 76% of total imports. The second position in the ranking was taken by Mexico ($X), with a 15% share of total imports. It was followed by Taiwan (Chinese), with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-1.3% per year) and Taiwan (Chinese) (+28.1% per year).

Import Prices by Country

The average vehicle radio import price stood at $X per unit in 2022, picking up by 10% against the previous year. In general, the import price, however, saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 21%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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