Vietnam - Radio Receivers for Motor Vehicles - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVietnam: Vehicle Radio Market 2024
Vehicle Radio Market Size in Vietnam
After three years of growth, the Vietnamese vehicle radio market decreased by -23.1% to $X in 2022. In general, consumption, however, showed strong growth. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.
Vehicle Radio Exports
Exports from Vietnam
In 2022, overseas shipments of radio receivers for motor vehicles were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 265%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.
In value terms, vehicle radio exports declined slightly to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 323%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.
Exports by Country
Lao People's Democratic Republic (X units) was the main destination for vehicle radio exports from Vietnam, with a 70% share of total exports. Moreover, vehicle radio exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, India (X units), fivefold. Brazil (X units) ranked third in terms of total exports with a 5.1% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Lao People's Democratic Republic totaled -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-15.4% per year) and Brazil (+8.7% per year).
In value terms, Lao People's Democratic Republic ($X), India ($X) and Argentina ($X) were the largest markets for vehicle radio exported from Vietnam worldwide, with a combined 93% share of total exports. Brazil, the Philippines, China, Egypt and South Korea lagged somewhat behind, together accounting for a further 4.8%.
Brazil, with a CAGR of +45.7%, recorded the highest growth rate of the value of exports, among the main countries of destination 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, declining by -13.7% against the previous year. Overall, the export price, however, showed a prominent expansion. The growth pace was the most rapid in 2016 an increase of 45%. Over the period under review, the average export prices attained the maximum at $X per unit in 2021, and then dropped in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to South Korea ($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 Romania (+49.8%), while the prices for the other major destinations experienced more modest paces of growth.
Vehicle Radio Imports
Imports into Vietnam
In 2022, purchases abroad of radio receivers for motor vehicles decreased by -9.7% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 78%. Imports peaked at X units in 2021, and then declined in the following year.
In value terms, vehicle radio imports contracted remarkably to $X in 2022. Overall, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 116% against the previous year. As a result, imports reached the peak of $X, and then reduced markedly in the following year.
Imports by Country
In 2022, the Philippines (X units) constituted the largest vehicle radio supplier to Vietnam, accounting for a 51% share of total imports. Moreover, vehicle radio imports from the Philippines exceeded the figures recorded by the second-largest supplier, Thailand (X units), twofold. The third position in this ranking was held by China (X units), with a 13% share.
From 2012 to 2022, the average annual growth rate of volume from the Philippines stood at +103.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+0.9% per year) and China (+28.6% per year).
In value terms, the largest vehicle radio suppliers to Vietnam were Thailand ($X), China ($X) and Germany ($X), together accounting for 74% of total imports. The Philippines, Japan and South Korea lagged somewhat behind, together comprising a further 11%.
In terms of the main suppliers, the Philippines, with a CAGR of +100.6%, 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 vehicle radio import price stood at $X per unit in 2022, with a decrease of -18.9% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vehicle radio import price increased by +20.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 48%. As a result, import price reached the peak level of $X per unit, and then dropped significantly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the vehicle radio market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26401290 - Radio receivers for motor vehicles, n.e.c.
Country coverage:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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