MENA: Vehicle Radio Market 2024

Vehicle Radio Market Size in MENA

After two years of growth, the MENA's vehicle radio market decreased by X% to $X in 2022. In general, consumption, however, continues to indicate a strong 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 MENA

In value terms, vehicle radio production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vehicle Radio Exports

Exports in MENA

In 2022, approx. X units of radio receivers for motor vehicles were exported in MENA; with a decrease of X% on 2021. Over the period under review, exports saw a deep reduction. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vehicle radio exports contracted notably to $X in 2022. Overall, exports showed a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X units) was the key exporter of radio receivers for motor vehicles, achieving X% of total exports. It was distantly followed by Israel (X units), committing a X% share of total exports. The following exporters - Morocco (X units), Turkey (X units) and Kuwait (X units) - each resulted at a X% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. Morocco experienced a relatively flat trend pattern. By contrast, Israel (X%) and Turkey (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Israel and Kuwait increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest vehicle radio supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Israel ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price posted a prominent expansion. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. 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.

Prices varied noticeably by country of origin: amid the top suppliers, 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 the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Vehicle Radio Imports

Imports in MENA

Vehicle radio imports declined markedly to X units in 2022, waning by X% compared with the previous year's figure. Overall, imports saw a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, vehicle radio imports fell remarkably to $X in 2022. Total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then dropped markedly in the following year.

Imports by Country

In 2022, Iran (X units) and Morocco (X units) represented the major importers of radio receivers for motor vehicles in MENA, together committing X% of total imports. Egypt (X units) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%) and the United Arab Emirates (X%). Israel (X units) and Algeria (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iran (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) constitutes the largest market for imported radio receivers for motor vehicles in MENA, comprising X% of total imports. The second position in the ranking was held by Morocco ($X), with a X% share of total imports. It was followed by Egypt, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Iran totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, remaining constant against the previous year. Over the period under review, the import price saw a measured increase. The pace of growth was the most pronounced in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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