Middle East: Vehicle Radio Market 2024

Vehicle Radio Market Size in the Middle East

The Middle Eastern vehicle radio market reduced modestly to $X in 2022, dropping by -3.6% against the previous year. In general, consumption showed a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Vehicle Radio Production in the Middle East

In value terms, vehicle radio production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, saw a significant increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 1,882% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vehicle Radio Exports

Exports in the Middle East

In 2022, overseas shipments of radio receivers for motor vehicles decreased by -6.7% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, saw a tangible increase. The growth pace was the most rapid in 2015 when exports increased by 141% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, vehicle radio exports rose to $X in 2022. Overall, exports, however, posted buoyant growth. The growth pace was the most rapid in 2015 when exports increased by 134% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X units, which was near 96% of total exports in 2022. Israel (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the radio receivers for motor vehicles exports, with a CAGR of +5.5% from 2012 to 2022. Israel (-7.0%) illustrated a downward trend over the same period. The United Arab Emirates (+11 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -5.9% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest vehicle radio supplier in the Middle East, comprising 91% of total exports. The second position in the ranking was held by Israel ($X), with a 7.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +7.0%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, picking up by 11% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 53%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices remained at a lower figure.

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 Israel ($X per unit), while the United Arab Emirates totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+6.6%).

Vehicle Radio Imports

Imports in the Middle East

In 2022, imports of radio receivers for motor vehicles in the Middle East surged to X units, with an increase of 59% on the previous year. In general, imports showed a mild expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 67%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, vehicle radio imports declined to $X in 2022. Overall, imports, however, continue to indicate a slight slump. The pace of growth appeared the most rapid in 2021 with an increase of 48%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the major importer of radio receivers for motor vehicles, comprising 55% of total imports. Iran (X units) held the second position in the ranking, distantly followed by Turkey (X units) and Israel (X units). All these countries together held approx. 43% 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 Iran (with a CAGR of +37.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vehicle radio importing markets in the Middle East were Iran ($X), the United Arab Emirates ($X) and Israel ($X), together comprising 94% of total imports.

In terms of the main importing countries, Iran, with a CAGR of +34.2%, saw the highest growth rate of 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 import price in the Middle East stood at $X per unit in 2022, with a decrease of -45.9% against the previous year. Overall, the import price saw a perceptible descent. The pace of growth was the most pronounced in 2019 an increase of 333% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2021, and then contracted dramatically in the following year.

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 Israel ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+3.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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