China: Loudspeaker Market 2024

Loudspeaker Market Size in China

After three years of growth, the Chinese loudspeaker market decreased by -86.3% to $X in 2021. Over the period under review, consumption, however, showed a pronounced increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Loudspeaker Production in China

In value terms, loudspeaker production fell to $X in 2021 estimated in export price. Overall, production, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 177%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

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Loudspeaker Exports

Exports from China

In 2021, overseas shipments of single loudspeakers (in enclosure) increased by 34% to X units, rising for the third year in a row after two years of decline. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +43.9% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, loudspeaker exports amounted to $X in 2021. Overall, exports posted a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 29%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X units), the United States (X units) and Brazil (X units) were the main destinations of loudspeaker exports from China, together comprising 28% of total exports. These countries were followed by India, the Netherlands, Vietnam, South Korea, Germany, Russia, Thailand, Mexico, the UK and Hong Kong SAR, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +35.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for single loudspeakers (in enclosure) exports from China, comprising 21% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 6.1% share of total exports. It was followed by the UK, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+19.1% per year) and the UK (+28.3% per year).

Export Prices by Country

In 2021, the average loudspeaker export price amounted to $X per unit, declining by -18.9% against the previous year. Overall, export price indicated prominent growth 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. The most prominent rate of growth was recorded in 2017 when the average export price increased by 28%. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then declined significantly in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into China

In 2021, supplies from abroad of single loudspeakers (in enclosure) increased by 6.4% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 360% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, loudspeaker imports skyrocketed to $X in 2021. In general, imports saw resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 60%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X units) constituted the largest loudspeaker supplier to China, with a 53% share of total imports. Moreover, loudspeaker imports from Vietnam exceeded the figures recorded by the second-largest supplier, Hungary (X units), fourfold. The third position in this ranking was taken by Malaysia (X units), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from Vietnam amounted to +80.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+75.8% per year) and Malaysia (+26.3% per year).

In value terms, the largest loudspeaker suppliers to China were Mexico ($X), Vietnam ($X) and Hungary ($X), together accounting for 58% of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +76.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average loudspeaker import price amounted to $X per unit, jumping by 31% against the previous year. In general, the import price, however, showed a abrupt contraction. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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