Germany: Vehicle Radio Market 2024

Vehicle Radio Market Size in Germany

The German vehicle radio market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption enjoyed buoyant growth. Vehicle radio consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Vehicle Radio Exports

Exports from Germany

In 2022, approx. X units of radio receivers for motor vehicles were exported from Germany; waning by -27.2% against the year before. In general, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by 56% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vehicle radio exports shrank sharply to $X in 2022. Overall, exports showed a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 204% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X units) was the main destination for vehicle radio exports from Germany, with a 60% share of total exports. Moreover, vehicle radio exports to Spain exceeded the volume sent to the second major destination, China (X units), fourfold. Belgium (X units) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain amounted to +20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+8.9% per year) and Belgium (-4.7% per year).

In value terms, China ($X) remains the key foreign market for radio receivers for motor vehicles exports from Germany, comprising 55% of total exports. The second position in the ranking was taken by Spain ($X), with a 6.8% share of total exports. It was followed by Belgium, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-2.0% per year) and Belgium (-1.0% per year).

Export Prices by Country

In 2022, the average vehicle radio export price amounted to $X per unit, stabilizing at the previous year. In general, the export price, however, enjoyed mild growth. The pace of growth was the most pronounced in 2021 an increase of 95% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Slovakia ($X per unit), while the average price for exports to Spain ($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 Slovakia (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Radio Imports

Imports into Germany

In 2022, overseas purchases of radio receivers for motor vehicles increased by 24% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a slight decline. The most prominent rate of growth was recorded in 2019 with an increase of 83% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, vehicle radio imports dropped to $X in 2022. In general, imports, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 26% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Portugal (X units), the UK (X units) and Mexico (X units) were the main suppliers of vehicle radio imports to Germany, together comprising 68% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +104.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) constituted the largest supplier of radio receivers for motor vehicles to Germany, comprising 40% of total imports. The second position in the ranking was taken by Hungary ($X), with a 19% share of total imports. It was followed by Mexico, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Portugal stood at +108.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-7.9% per year) and Mexico (-7.3% per year).

Import Prices by Country

In 2022, the average vehicle radio import price amounted to $X per unit, declining by -21% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 41% against the previous year. As a result, import price reached the peak level of $X per unit, and then contracted rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per unit), while the price for the UK ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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