EU: Vehicle Radio Market 2025

Vehicle Radio Market Size in the EU

The EU vehicle radio market was estimated at $X in 2022, growing by 2.4% against the previous year. Over the period under review, consumption enjoyed significant growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Vehicle Radio Production in the EU

In value terms, vehicle radio production reduced to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient expansion. The growth pace was the most rapid in 2021 when the production volume increased by 169%. As a result, production reached the peak level of $X, and then fell in the following year.

Vehicle Radio Exports

Exports in the EU

In 2022, approx. X units of radio receivers for motor vehicles were exported in the European Union; shrinking by -10.2% on the year before. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 87% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vehicle radio exports dropped significantly to $X in 2022. Overall, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 149% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Hungary (X units) represented the largest exporter of radio receivers for motor vehicles, making up 40% of total exports. Germany (X units) ranks second in terms of the total exports with a 22% share, followed by Greece (11%), Romania (9.5%) and Spain (8.2%). The following exporters - France (X units) and Poland (X units) - each resulted at a 5.2% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +84.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X) remains the largest vehicle radio supplier in the European Union, comprising 60% of total exports. The second position in the ranking was held by Germany ($X), with a 17% share of total exports. It was followed by Romania, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hungary totaled +49.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-5.0% per year) and Romania (+91.7% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per unit, shrinking by -11.2% against the previous year. Overall, the export price, however, posted prominent growth. The most prominent rate of growth was recorded in 2019 an increase of 43%. The level of export peaked at $X per unit in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per unit), while Greece ($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 the EU

For the third year in a row, the European Union recorded decline in purchases abroad of radio receivers for motor vehicles, which decreased by -16.8% to X units in 2022. Overall, imports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2015 with an increase of 111%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vehicle radio imports fell remarkably to $X in 2022. Over the period under review, imports continue to indicate a mild reduction. The pace of growth was the most pronounced in 2015 with an increase of 108% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of radio receivers for motor vehicles, namely Hungary, Germany, Romania and Spain, represented more than two-thirds of total import. It was distantly followed by Poland (X units), constituting a 9.3% share of total imports. The following importers - France (X units) and Belgium (X units) - each accounted for a 4.2% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key 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 ($X), Germany ($X) and Spain ($X) constituted the countries with the highest levels of imports in 2022, with a combined 63% share of total imports.

Romania, with a CAGR of +77.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, remaining constant against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vehicle radio import price increased by +8.6% against 2019 indices. The pace of growth was the most pronounced in 2014 when the import price increased by 35%. Over the period under review, import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per unit), while Hungary ($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

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