Europe AV Receiver Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Channel (Channel 5, Channel 7, Channel 9, and Others) and Application (Residential and Commercial)

Europe AV Receiver Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Channel (Channel 5, Channel 7, Channel 9, and Others) and Application (Residential and Commercial)

The AV receiver market in Europe is expected to grow from US$ 585.05 million in 2021 to US$ 745.44 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028.

A constantly rising demand for advanced home theaters and amplifiers from the residential and commercial sectors influences the market players to invest in developing new products rapidly. A few of the players operating in the Europe AV receiver market are Arcam, Anthem Inc., Cambridge Audio, Marantz, LG Electronics, and Pro FX Tech Pvt Ltd. A few of the recent product developments by major market players are mentioned below:
In October 2021, ARCAM introduced the AVR5. The product supports Dolby Atmos and DTS:X 12-channel decoding, Dolby Vision up to 4K, Apple Air Play2, Bluetooth apt X HD, Chromecast, MQA, and Roon.
In October 2021, AVR-S760H and AVR-S660H, two new S-Series AV receivers were launched by Denon (Sound United). Three 8K HDMI inputs are included in each of the new S-Series AV receivers, allowing users to upgrade to the newest 8K entertainment and gaming sources. The AVR-S760H and S660H include enhanced voice control, networking options, and the latest technology to deliver an immersive surround sound experience for movies and music.

Thus, such continuous product developments and rising demands for AV receivers are driving the AV receiver market growth in Europe.

The overall European economy was severely impacted by various social limitations and restrictions imposed by corresponding authorities upon the onset of the COVID-19 pandemic. The pandemic severely hit the European automotive industry, which, thus, experienced a decline of more than 20% in overall automotive production due to severe supply chain disruptions caused by lockdown measures, which led to lowered demand for AV receivers. The residential segment, however, exhibited a rise in demand for AV receivers in European countries. Further, most of this elevated demand remained unfulfilled owing to the shutdown of e-commerce operations and retail outlets. COVID-19 has compelled manufacturers to streamline their production processes to tackle disruptions caused by unforeseen calamities and resolve uncertain challenges. With a rise in mass vaccination efforts, demand for AV receivers has started to recover from the Q3 of 2020, as companies began investing in making operations more efficient and productive.

With new features and technologies, vendors can attract new customers and expand their footprints in markets. This factor is expected to grow at a good CAGR during the forecast period.

Europe AV Receiver Market Revenue and Forecast to 2028 (US$ Million)

Europe AV Receiver Market Segmentation

Europe AV receiver market is segmented into channel and application, and country. Based on channel, the global AV receiver market is sub-segmented into channel 5, channel 7, channel 9, and others. The Channel 7 segment accounted for the highest share in the Europe AV receiver market in 2020. Based on application, the AV receiver market is segmented into residential and commercial. The residential segment accounted for the highest share the Europe AV receiver market in 2020. Based on country, the Europe AV receiver market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. Rest of Europe held the largest market share in 2020. Arcam, LG Electronics, Marantz, NAD Electronics, Onkyo Corporation, Pyle Audio, Sony Corporation, and Yamaha Corporation are among the leading companies in the Europe AV receiver market.

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