MERCOSUR: Vehicle Radio Market 2024

Vehicle Radio Market Size in MERCOSUR

The MERCOSUR vehicle radio market shrank to $X in 2022, waning by -13% against the previous year. Overall, consumption, however, posted a perceptible increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Vehicle Radio Production in MERCOSUR

In value terms, vehicle radio production rose modestly to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +5.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 82% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Vehicle Radio Exports

Exports in MERCOSUR

Vehicle radio exports soared to X units in 2022, rising by 101% compared with 2021 figures. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 383% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, vehicle radio exports soared to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 468%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporting country with an export of about X units, which reached 70% of total exports. It was distantly followed by Chile (X units), generating a 27% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vehicle radio exports from Brazil stood at +26.0%. At the same time, Chile (+29.4%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +29.4% from 2012-2022. From 2012 to 2022, the share of Chile and Brazil increased by +6.9 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vehicle radio supplying countries in MERCOSUR were Brazil ($X) and Chile ($X).

Among the main exporting countries, Chile, with a CAGR of +35.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per unit, rising by 11% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 170% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the export prices failed to regain momentum.

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 Chile ($X per unit), while Brazil amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+4.7%).

Vehicle Radio Imports

Imports in MERCOSUR

In 2022, approx. X units of radio receivers for motor vehicles were imported in MERCOSUR; which is down by -4.6% on the year before. Overall, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2018 when imports increased by 222%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vehicle radio imports plummeted to $X in 2022. Over the period under review, imports, however, continue to indicate a measured increase. The growth pace was the most rapid in 2016 with an increase of 93%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X units) and Argentina (X units) dominates imports structure, together comprising 89% of total imports. It was distantly followed by Chile (X units), making up a 6.4% share of total imports. Colombia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +24.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) constitutes the largest market for imported radio receivers for motor vehicles in MERCOSUR, comprising 59% of total imports. The second position in the ranking was held by Brazil ($X), with a 26% share of total imports. It was followed by Chile, with an 8.1% share.

In Argentina, vehicle radio imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+8.9% per year) and Chile (+22.8% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per unit in 2022, with a decrease of -16.5% against the previous year. Over the period under review, the import price showed a pronounced slump. The pace of growth was the most pronounced in 2015 when the import price increased by 82% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform