India: Radio Receiver Market 2024

Radio Receiver Market Size in India

In 2022, the Indian radio receiver market increased by 59% to $X, rising for the second consecutive year after two years of decline. Overall, consumption showed a relatively flat trend pattern. Radio receiver consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Radio Receiver Production in India

In value terms, radio receiver production contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 8.4%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Radio Receiver Exports

Exports from India

In 2022, overseas shipments of radio receivers increased by 36% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 65% against the previous year. The exports peaked at X units in 2018; afterwards, it flattened through to 2022.

In value terms, radio receiver exports reduced to $X in 2022. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2021 with an increase of 82%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Uganda (X units), Portugal (X units) and Morocco (X units) were the main destinations of radio receiver exports from India, together comprising 67% of total exports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +224,900.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the key foreign market for radio receivers exports from India, comprising 75% of total exports. The second position in the ranking was taken by Thailand ($X), with a 5.7% share of total exports. It was followed by the United States, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to Turkey totaled +37.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+61.5% per year) and the United States (+37.1% per year).

Export Prices by Country

In 2022, the average radio receiver export price amounted to $X per unit, reducing by -28.5% against the previous year. Over the period under review, the export price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2013 an increase of 73%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then declined rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Morocco ($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 Turkey (+5.0%), while the prices for the other major destinations experienced a decline.

Radio Receiver Imports

Imports into India

In 2022, supplies from abroad of radio receivers increased by 65% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +127.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, radio receiver imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.6% against 2020 indices. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Thailand (X units) and South Korea (X units) were the main suppliers of radio receiver imports to India, together accounting for 89% of total imports. Vietnam, Hong Kong SAR, Indonesia and Malaysia lagged somewhat behind, together comprising a further 8.2%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +57.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Vietnam ($X) appeared to be the largest radio receiver suppliers to India, with a combined 75% share of total imports.

Among the main suppliers, Vietnam, with a CAGR of +78.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average radio receiver import price stood at $X per unit in 2022, approximately reflecting the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 31%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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