Growth Segments in 12 Volt: CTA

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CTA July 2023 car audio estimates

There are some 12 volt market segments expected to see modest growth this year, according to the Consumer Technology Association, CTA.

OE integration device shipments to dealers are expected to climb this year and next.  Sales will hit a projected $753 million in 2023 (up from $663 last year) and grow again to $793 million in 2024, the CTA predicts.  Unit sales (wholesale) should hit 11.6 million (up from 11.2 million last year) and grow again next year to 12.2 million.

Backup camera sales have continued to grow in dollar sales to dealers.  But they are forecast to hit a peak this year at $94 million in sales, up from $92 million last year and $83 million in 2021. They are expected to drop back to $92 million next year.  Unit sales will keep climbing from about 1.5 million shipments this year to 1.6 million next year, according to CTA projections.

By contrast head unit shipments are dropping back from a pandemic surge.  Total head unit shipment revenues were at $593 million back in 2020.  They rose to $796 million in 2022.  This year, they are expected to fall back to $740 million, and then to $686 million in 2024, said the CTA.

“Pressures from an overstocked 12-volt sales channel will make shipment volume growth difficult for categories in the aftermarket this year. In addition, soft consumer demand based on the current economic climate could further challenge growth in 2023 and into next year. But as always in the aftermarket there are bright spots and new opportunities down the road.”

Total aftermarket car audio shipments are expected to hit 2.8 billion this year, still above pre-pandemic levels of 2.7 in 2019.   If we subtract PND (portable nav devices) and dash cameras,we get $2.5 billion in shipments.

This is higher than car audio aftermarket estimates of $1.5 billion at retail without labor that we reported on earlier.  Part of the difference is that the CTA included ADAS (Advanced Driver Assistance Systems) at $388 million.  Still the numbers are higher than the results of our poll of industry execs.


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