Sweden: Vehicle Radio Market 2024

Vehicle Radio Market Size in Sweden

The Swedish vehicle radio market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption enjoyed a notable increase. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Vehicle Radio Exports

Exports from Sweden

In 2022, shipments abroad of radio receivers for motor vehicles decreased by -20% to X units, falling for the fifth consecutive year after three years of growth. Overall, exports recorded a pronounced reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 280%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, vehicle radio exports contracted to $X in 2022. Over the period under review, exports, however, saw mild growth. The pace of growth was the most pronounced in 2016 with an increase of 447%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units), Norway (X units) and Denmark (X units) were the main destinations of vehicle radio exports from Sweden, together comprising 48% of total exports. The United States, France, Australia, Poland, Slovakia, Austria, Japan, the Czech Republic, the United Arab Emirates and Germany lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +264.7%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Australia ($X) and Norway ($X) were the largest markets for vehicle radio exported from Sweden worldwide, together accounting for 46% of total exports. The United States, Japan, Denmark, Germany, Poland, France, the Czech Republic, Austria, the United Arab Emirates and Slovakia lagged somewhat behind, together accounting for a further 39%.

Among the main countries of destination, the Czech Republic, with a CAGR of +122.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average vehicle radio export price amounted to $X per unit, rising by 14% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vehicle radio export price increased by +27.5% against 2016 indices. The growth pace was the most rapid in 2016 an increase of 44%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Slovakia ($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 Germany (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Radio Imports

Imports into Sweden

After two years of decline, purchases abroad of radio receivers for motor vehicles increased by 1.5% to X units in 2022. In general, imports, however, saw a slight setback. The pace of growth appeared the most rapid in 2014 with an increase of 303%. Imports peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, vehicle radio imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,277% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Portugal (X units) constituted the largest supplier of vehicle radio to Sweden, with a 41% share of total imports. Moreover, vehicle radio imports from Portugal exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The third position in this ranking was taken by Hong Kong SAR (X units), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Portugal totaled +70.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-5.5% per year) and Hong Kong SAR (+43.8% per year).

In value terms, Portugal ($X) constituted the largest supplier of radio receivers for motor vehicles to Sweden, comprising 71% of total imports. The second position in the ranking was taken by France ($X), with a 17% share of total imports. It was followed by Hong Kong SAR, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Portugal totaled +91.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.8% per year) and Hong Kong SAR (+36.3% per year).

Import Prices by Country

In 2022, the average vehicle radio import price amounted to $X per unit, surging by 67% against the previous year. In general, the import price showed a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of 241%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Portugal ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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