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China Car Audio Industry Report, 2007
Research In China, June 2007, Pages: 176
'The output and sales volume of automobile in China in 2006 reached 7.2797 million units and 7.2160 million units respectively, each up by 27.32% and 25.13%,which indicated that China has become world second-largest automobile consumer market next to US, and the domestic automobile sales in 2007 is expected to grow at around 15%, exceeding 8 million units. The rapidly growing automobile market of China activates the whole automobile industry chain; car audio sector sees a good momentum, and its before-market penetration has reached 100%.
Car audio market is divided into two parts: one is OEM market which means that car makers take a certain OEM brand as the standard figuration of their cars during the car production; another is retail market which means the terminal retail market aiming at consumers, mainly the car audio shop. OEM has occupied majority of domestic car audio market share, and demands in car audio OEM market in 2006 were roughly 7.2 million sets and such market size is estimated to hit more than 10 million sets in 2010.
The car audio retail market is small in scale but with great potentials as consumers pursue high quality of car audio and individualization. While after-sales market scale accounts for over 70% of total in the developed countries. Therefore, the after-sales market of car audio in China is expected to become larger in proportion and to witness a rapid growth.
Overall, rapidly growing automobile market in China will no doubt bring great opportunities to car audio market which tends to grow annually at around 10% on the average in the forthcoming four years.
This report has five chapters. Chapter 1 gives an introduction on car audio industry; Chapter 2 makes a detailed description of global and Chinese car audio industry and development status before a in-depth analysis; Chapter 3 presents the basic information and latest news of domestic world-class car audio makers; Chapter 4 shows an analysis on car audios purchase and brands; and Chapter 5 summarizes and forecasts the developing trend of car audio industry.
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