Asia-Pacific: Loudspeaker Market 2024

Loudspeaker Market Size in Asia-Pacific

The Asia-Pacific loudspeaker market skyrocketed to $X in 2021, growing by 51% against the previous year. Over the period under review, consumption, however, showed a prominent expansion. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Loudspeaker Production in Asia-Pacific

In value terms, loudspeaker production reduced sharply to $X in 2021 estimated in export price. In general, production, however, recorded a strong increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 161%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Loudspeaker Exports

Exports in Asia-Pacific

In 2021, overseas shipments of single loudspeakers (in enclosure) increased by 13% to X units, rising for the third consecutive year after two years of decline. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +48.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 21%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, loudspeaker exports rose to $X in 2021. In general, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 27%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

China represented the main exporter of single loudspeakers (in enclosure) in Asia-Pacific, with the volume of exports finishing at X units, which was approx. 84% of total exports in 2021. It was distantly followed by Vietnam (X units), constituting an 11% share of total exports. Hong Kong SAR (X units) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to loudspeaker exports from China stood at +8.3%. At the same time, Vietnam (+80.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +80.0% from 2012-2021. By contrast, Hong Kong SAR (-11.1%) illustrated a downward trend over the same period. Vietnam (+11 p.p.) and China (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -16.1% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest loudspeaker supplier in Asia-Pacific, comprising 85% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +13.7%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+5.6% per year) and Vietnam (+88.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, falling by -7.4% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, loudspeaker export price decreased by -15.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 28%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+18.8%), while the other leaders experienced more modest paces of growth.

Loudspeaker Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of single loudspeakers (in enclosure) was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, loudspeaker imports surged to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.8% against 2013 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 18% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Japan (X units) represented the key importer of single loudspeakers (in enclosure), committing 30% of total imports. South Korea (X units) took the second position in the ranking, followed by Vietnam (X units), Hong Kong SAR (X units), Indonesia (X units), India (X units) and Thailand (X units). All these countries together held near 55% share of total imports.

Imports into Japan increased at an average annual rate of +1.9% from 2012 to 2021. At the same time, South Korea (+21.5%), India (+17.7%) and Vietnam (+8.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +21.5% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, Indonesia (-3.0%) and Hong Kong SAR (-9.9%) illustrated a downward trend over the same period. While the share of South Korea (+11 p.p.), Vietnam (+5.2 p.p.) and India (+3.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-3.8 p.p.) and Hong Kong SAR (-21.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported single loudspeakers (in enclosure) in Asia-Pacific, comprising 32% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by South Korea, with a 10% share.

In Hong Kong SAR, loudspeaker imports increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+4.7% per year) and South Korea (+14.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, declining by -8.2% against the previous year. Import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, loudspeaker import price increased by +52.4% against 2017 indices. The growth pace was the most rapid in 2018 when the import price increased by 21% against the previous year. The level of import peaked at $X per unit in 2020, and then shrank in the following year.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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