Eastern Europe: Vehicle Radio Market 2024

Vehicle Radio Market Size in Eastern Europe

The East European vehicle radio market amounted to $X in 2022, growing by 3.8% against the previous year. Over the period under review, consumption recorded a slight expansion. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Vehicle Radio Production in Eastern Europe

In value terms, vehicle radio production shrank dramatically to $X in 2022 estimated in export price. The total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +32.0% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 95% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Vehicle Radio Exports

Exports in Eastern Europe

In 2022, approx. X units of radio receivers for motor vehicles were exported in Eastern Europe; shrinking by -8.7% on the previous year. In general, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2013 when exports increased by 134%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, vehicle radio exports declined to $X in 2022. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 233% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Hungary represented the key exporting country with an export of about X units, which finished at 75% of total exports. Romania (X units) ranks second in terms of the total exports with an 18% share, followed by Poland (4.8%).

From 2012 to 2022, average annual rates of growth with regard to vehicle radio exports from Hungary stood at +36.6%. At the same time, Romania (+84.7%) and Poland (+21.8%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +84.7% from 2012-2022. Hungary (+69 p.p.), Romania (+18 p.p.) and Poland (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X) remains the largest vehicle radio supplier in Eastern Europe, comprising 84% of total exports. The second position in the ranking was taken by Romania ($X), with a 14% share of total exports.

In Hungary, vehicle radio exports increased at an average annual rate of +49.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Romania (+91.7% per year) and Poland (+26.2% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per unit, reducing by -6.2% against the previous year. In general, the export price, however, saw a resilient expansion. The pace of growth was the most pronounced in 2017 when the export price increased by 67%. Over the period under review, the export prices reached the maximum at $X per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hungary ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+9.4%), while the other leaders experienced more modest paces of growth.

Vehicle Radio Imports

Imports in Eastern Europe

In 2022, imports of radio receivers for motor vehicles in Eastern Europe fell markedly to X units, with a decrease of -24.9% against 2021 figures. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 143% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, vehicle radio imports contracted sharply to $X in 2022. Overall, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 68% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Hungary (X units) was the key importer of radio receivers for motor vehicles, committing 46% of total imports. Romania (X units) ranks second in terms of the total imports with a 31% share, followed by Poland (17%). The following importers - the Czech Republic (X units) and Russia (X units) - together made up 4.5% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Hungary (with a CAGR of +67.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) constitutes the largest market for imported radio receivers for motor vehicles in Eastern Europe, comprising 55% of total imports. The second position in the ranking was held by Poland ($X), with a 23% share of total imports. It was followed by Hungary, with an 18% share.

In Romania, vehicle radio imports expanded at an average annual rate of +77.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+27.8% per year) and Hungary (+59.2% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per unit, approximately equating the previous year. Overall, the import price continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2017 an increase of 181% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Romania ($X per unit), while the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+18.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :