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UK television receivers market: £16 billion industry in 2012
Television and Radio Receivers, Sound and Video Recording Devices in United Kingdom: ISIC 323 - a new market research report on 2014-03-11 17:10:04
In 2012 in the UK television receivers market there were 643 companies manufacturing TVs, radios and sound/video recording devices. The number of active firms dropped by 23% from 2006, mainly following exits of the British SMEs. At the end of the review period the industry was fairly consolidated, with the five largest companies accounting for a dominant 61% share of all earnings.
Demand for television and radio receivers, sound and video recording devices mainly driven by UK households, which accounted for around 78% of total sales over 2006-2012. The market was mature and saturated, as already in 2007 more than 80% of homes in the UK had multi-channel digital TV sets. Watching TV and listening to music continued to be the most popular leisure activities for both men and women, but there was little need for new devices.
UK companies manufacturing television and radio receivers and sound/video recording devices are projected to record a 2% annual turnover decline over 2013-2018, bringing total revenue down to £1.9 billion. Local manufacturers will continue to lose share in the UK and in global markets to manufacturers located in countries where labour costs are low and supply chains deep. Successful UK companies will be those offering very high quality products and attractive brands, although they will increasingly choose to make their products outside the UK.
Key Headlines
- Over 2006-2012 UK demand for television and radio receivers, sound and video recording devices remains flat, with sales fluctuating at around £16 billion
- Around 76% of total production imported, mostly from China, which alone accounted for 23% of all trade value
- Households account for 78% of purchases in 2012, and sales of television receivers represent 44% of revenue
- Local production low and in decline, dropping 19% from 2006 to just over £2 billion in 2012
- Almost 30% of local turnover was export revenue, with UK companies shipping mostly to the US, Germany, Italy, Ireland and the Netherlands
- 2012 sees 643 UK-based companies making television and radio receivers, sound and video recording devices
- Largest firms mainly subsidiaries of multinational manufacturers, led by LG Electronics, Sony and Panasonic
- Future prospects gloomy, as local manufacturing revenue projected to decline 2% per annum over 2013-2018 to less than £1.9 billion in latter year
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