GCC: Electric Sound Amplifier Market 2024

Electric Sound Amplifier Market Size in GCC

The GCC electric sound amplifier market reduced to $X in 2022, shrinking by -4.2% against the previous year. Overall, consumption, however, continues to indicate a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Electric Sound Amplifier Production in GCC

In value terms, electric sound amplifier production contracted to $X in 2022 estimated in export price. In general, production recorded a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 53%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Electric Sound Amplifier Exports

Exports in GCC

Electric sound amplifier exports surged to X units in 2022, with an increase of 28% against the previous year. Overall, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 80% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric sound amplifier exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 127% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, recording X units, which was near 85% of total exports in 2022. It was distantly followed by Oman (X units) and Saudi Arabia (X units), together achieving a 15% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -2.2% from 2012 to 2022. At the same time, Saudi Arabia (+30.5%) and Oman (+23.8%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +30.5% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates, Oman and Saudi Arabia increased by +40, +7.4 and +6.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest electric sound amplifier supplier in GCC, comprising 85% of total exports. The second position in the ranking was taken by Oman ($X), with a 9.6% share of total exports.

In the United Arab Emirates, electric sound amplifier exports increased at an average annual rate of +2.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+26.4% per year) and Saudi Arabia (+10.7% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, increasing by 19% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2013 when the export price increased by 124%. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Electric Sound Amplifier Imports

Imports in GCC

In 2022, supplies from abroad of electric sound amplifier sets increased by 29% to X units for the first time since 2017, thus ending a four-year declining trend. Overall, imports recorded a tangible expansion. The most prominent rate of growth was recorded in 2014 with an increase of 52% against the previous year. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, electric sound amplifier imports dropped to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 18%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the largest importer of electric sound amplifier sets, committing 75% of total imports. Qatar (X units) ranks second in terms of the total imports with a 14% share, followed by Kuwait (8.4%). Oman (X units) took a relatively small share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the electric sound amplifier sets imports, with a CAGR of +12.9% from 2012 to 2022. At the same time, Oman (+9.1%) and Kuwait (+6.8%) displayed positive paces of growth. By contrast, Qatar (-9.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Kuwait increased by +44 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported electric sound amplifier sets in GCC, comprising 71% of total imports. The second position in the ranking was held by Qatar ($X), with a 21% share of total imports. It was followed by Kuwait, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +3.7%. In the other countries, the average annual rates were as follows: Qatar (+4.0% per year) and Kuwait (-0.4% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, dropping by -22.5% against the previous year. Over the period under review, the import price showed a perceptible contraction. The most prominent rate of growth was recorded in 2018 an increase of 40%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+15.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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