Radio Receiver Market

The global market for radio receivers is projected to show a slight increase in performance over the next eight years, with an anticipated rise in both volume and value. Consumption of radio receivers has seen fluctuations over the years, with certain countries like China, the United States, and Brazil leading in terms of volume. Production and imports show varied trends, with China being a dominant producer and exporter. The average import and export prices have seen growth in recent years, with noticeable differences among the major players in the market.

Market Forecast

Driven by rising demand for radio receiver worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.5% for the period from 2022 to 2030, which is projected to bring the market volume to 396M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market value to $24.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Radio Receivers

In 2022, consumption of radio receivers increased by 4.6% to 380M units, rising for the second consecutive year after two years of decline. In general, consumption, however, showed a mild decrease. Global consumption peaked at 421M units in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

The global radio receiver market revenue stood at $20.1B in 2022, growing by 1.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a slight setback. The pace of growth was the most pronounced in 2021 when the market value increased by 9.5%. Over the period under review, the global market reached the maximum level at $23.5B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (110M units), the United States (56M units) and Brazil (27M units), with a combined 51% share of global consumption. Indonesia, Mexico, France, Hong Kong SAR, Germany, Portugal and Peru lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Portugal (with a CAGR of +20.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest radio receiver markets worldwide were the United States ($4.4B), China ($2.9B) and Mexico ($1.5B), together comprising 43% of the global market. Indonesia, Portugal, Brazil, Germany, France, Peru and Hong Kong SAR lagged somewhat behind, together comprising a further 18%.

Among the main consuming countries, Portugal, with a CAGR of +20.1%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of radio receiver per capita consumption was registered in Portugal (622 units per 1000 persons), followed by Peru (183 units per 1000 persons), the United States (166 units per 1000 persons) and France (149 units per 1000 persons), while the world average per capita consumption of radio receiver was estimated at 0.6 units per 1000 persons.

In Portugal, radio receiver per capita consumption expanded at an average annual rate of +20.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (+8.9% per year) and the United States (-2.1% per year).

Production

World Production of Radio Receivers

In 2022, after four years of growth, there was decline in production of radio receivers, when its volume decreased by -0.5% to 457M units. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 44% against the previous year. Over the period under review, global production hit record highs at 489M units in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, radio receiver production totaled $21.8B in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 20% against the previous year. As a result, production reached the peak level of $23.1B. From 2020 to 2022, global production growth failed to regain momentum.

Production By Country

China (326M units) remains the largest radio receiver producing country worldwide, comprising approx. 71% of total volume. Moreover, radio receiver production in China exceeded the figures recorded by the second-largest producer, Mexico (14M units), more than tenfold. Indonesia (14M units) ranked third in terms of total production with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Mexico (+5.6% per year) and Indonesia (-0.2% per year).

Imports

World Imports of Radio Receivers

In 2022, global imports of radio receivers reduced slightly to 200M units, waning by -3.6% against the previous year's figure. In general, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 7.4% against the previous year. Over the period under review, global imports attained the peak figure at 355M units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, radio receiver imports expanded modestly to $10B in 2022. Overall, imports continue to indicate a abrupt decline. Over the period under review, global imports hit record highs at $18.3B in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (46M units), distantly followed by Brazil (19M units), Germany (11M units) and Hong Kong SAR (11M units) represented the main importers of radio receivers, together constituting 44% of total imports. Peru (6.2M units), the Netherlands (5.6M units), India (5.5M units), Japan (5.4M units), Mexico (5M units), France (4.9M units), Argentina (4.2M units), Spain (3.9M units) and the UK (3.8M units) followed a long way behind the leaders.

Imports into the United States decreased at an average annual rate of -4.4% from 2012 to 2022. At the same time, Peru (+10.3%), Argentina (+5.0%), India (+4.7%) and Brazil (+1.0%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in the world, with a CAGR of +10.3% from 2012-2022. By contrast, Spain (-2.8%), Germany (-3.3%), the Netherlands (-4.1%), Mexico (-5.6%), France (-9.3%), the UK (-10.1%), Japan (-12.0%) and Hong Kong SAR (-15.6%) illustrated a downward trend over the same period. Brazil (+4.6 p.p.), the United States (+2.6 p.p.), Peru (+2.4 p.p.) and India (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while Japan and Hong Kong SAR saw its share reduced by -2.7% and -11.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($3.7B) constitutes the largest market for imported radio receivers worldwide, comprising 37% of global imports. The second position in the ranking was held by Germany ($626M), with a 6.2% share of global imports. It was followed by Japan, with a 4.7% share.

In the United States, radio receiver imports decreased by an average annual rate of -3.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-7.9% per year) and Japan (-8.0% per year).

Imports By Type

The products with the highest levels of radio receiver imports in 2022 were radio-broadcast receivers; operational without external power source, without sound recording or reproducing apparatus, including apparatus capable of receiving radio-telephony or radio-telegraphy (54M units), radio (telephony, telegraphy, broadcast) broadcast receivers; apparatus (other than pocket-size radio cassette-players), combined with sound recording or reproducing apparatus, not needing external power (46M units) and radio-broadcast receivers (42M units), together reaching 71% of total import. It was distantly followed by radio-broadcast receivers n.e.c. in heading no. 8527; combined with sound recording or reproducing apparatus (22M units), radio receivers for motor vehicles (15M units), radio-broadcast receivers n.e.c. in heading no. 8527; not combined with sound recording or reproducing apparatus and not combined with a clock (10M units) and radio-broadcast receivers n.e.c. in heading no. 8527; not combined with sound recording or reproducing apparatus but combined with a clock (9.7M units), together committing a 29% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main imported products, was attained by radio receivers for motor vehicles (with a CAGR of +1.0%), while imports for the other products experienced a decline in the imports figures.

In value terms, radio-broadcast receivers ($5.1B) constitutes the largest type of radio receivers imported worldwide, comprising 51% of global imports. The second position in the ranking was taken by radio-broadcast receivers n.e.c. in heading no. 8527; combined with sound recording or reproducing apparatus ($1.4B), with a 14% share of global imports. It was followed by radio receivers for motor vehicles, with a 13% share.

For radio-broadcast receivers, imports plunged by an average annual rate of -6.0% over the period from 2012-2022. With regard to the other imported products, the following average annual rates of growth were recorded: radio-broadcast receivers n.e.c. in heading no. 8527; combined with sound recording or reproducing apparatus (-7.8% per year) and radio receivers for motor vehicles (+3.3% per year).

Import Prices By Type

The average radio receiver import price stood at $50 per unit in 2022, picking up by 7.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 7.9%. Global import price peaked at $61 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was radio-broadcast receivers ($123 per unit), while the price for radio (telephony, telegraphy, broadcast) broadcast receivers; pocket-size radio cassette-players, operational without external power source, combined or not with sound recording or reproducing apparatus ($12 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by radio-broadcast receivers; operational without external power source, without sound recording or reproducing apparatus, including apparatus capable of receiving radio-telephony or radio-telegraphy (+3.0%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average radio receiver import price stood at $50 per unit in 2022, rising by 7.5% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 7.9% against the previous year. Global import price peaked at $61 per unit in 2016; however, from 2017 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 Japan ($89 per unit), while Hong Kong SAR ($5.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Radio Receivers

In 2022, shipments abroad of radio receivers decreased by -8.7% to 277M units, falling for the second consecutive year after three years of growth. In general, exports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2018 with an increase of 37% against the previous year. Over the period under review, the global exports attained the peak figure at 424M units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, radio receiver exports fell to $10.8B in 2022. Overall, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2014 when exports increased by 1.5% against the previous year. Over the period under review, the global exports reached the maximum at $16.9B in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

China dominates exports structure, accounting for 218M units, which was approx. 79% of total exports in 2022. The following exporters - Mexico (8.3M units), the Netherlands (4.9M units) and Thailand (4.8M units) - together made up 6.5% of total exports.

Exports from China decreased at an average annual rate of -2.0% from 2012 to 2022. Mexico and the Netherlands experienced a relatively flat trend pattern. Thailand (-9.1%) illustrated a downward trend over the same period. While the share of China (+16 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.9B) remains the largest radio receiver supplier worldwide, comprising 36% of global exports. The second position in the ranking was taken by Mexico ($1.7B), with a 15% share of global exports. It was followed by Thailand, with a 4.9% share.

In China, radio receiver exports contracted by an average annual rate of -2.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+3.9% per year) and Thailand (-6.9% per year).

Exports By Type

In 2022, radio-broadcast receivers n.e.c. in heading no. 8527; combined with sound recording or reproducing apparatus (91M units), distantly followed by radio-broadcast receivers; operational without external power source, without sound recording or reproducing apparatus, including apparatus capable of receiving radio-telephony or radio-telegraphy (57M units), radio-broadcast receivers (40M units), radio (telephony, telegraphy, broadcast) broadcast receivers; apparatus (other than pocket-size radio cassette-players), combined with sound recording or reproducing apparatus, not needing external power (39M units) and radio-broadcast receivers n.e.c. in heading no. 8527; not combined with sound recording or reproducing apparatus and not combined with a clock (29M units) were the key types of radio receivers, together mixing up 92% of total exports. Radio-broadcast receivers n.e.c. in heading no. 8527; not combined with sound recording or reproducing apparatus but combined with a clock (12M units) and radio receivers for motor vehicles (9M units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exported products, was attained by radio-broadcast receivers n.e.c. in heading no. 8527; combined with sound recording or reproducing apparatus (with a CAGR of +6.4%), while the other products experienced a decline in the exports figures.

In value terms, the largest types of exported radio receivers were radio-broadcast receivers ($5B), radio-broadcast receivers n.e.c. in heading no. 8527; combined with sound recording or reproducing apparatus ($2.7B) and radio receivers for motor vehicles ($946M), together comprising 80% of global exports.

In terms of the main exported products, radio-broadcast receivers n.e.c. in heading no. 8527; combined with sound recording or reproducing apparatus, with a CAGR of +2.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

The average radio receiver export price stood at $39 per unit in 2022, growing by 3.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 27%. The global export price peaked at $70 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was radio-broadcast receivers ($125 per unit), while the average price for exports of radio-broadcast receivers; operational without external power source, without sound recording or reproducing apparatus, including apparatus capable of receiving radio-telephony or radio-telegraphy ($9.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by radio (telephony, telegraphy, broadcast) broadcast receivers; pocket-size radio cassette-players, operational without external power source, combined or not with sound recording or reproducing apparatus (+10.1%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average radio receiver export price amounted to $39 per unit, surging by 3.8% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 27%. Over the period under review, the average export prices attained the peak figure at $70 per unit in 2017; however, from 2018 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 Mexico ($202 per unit), while China ($18 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform