GCC: Non-Enclosed Loudspeakers Market 2024

Non-Enclosed Loudspeakers Market Size in GCC

For the third consecutive year, the GCC non-enclosed loudspeakers market recorded growth in sales value, which increased by 2.7% to $X in 2021. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +15.8% against 2017 indices. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Non-Enclosed Loudspeakers Production in GCC

In value terms, non-enclosed loudspeakers production contracted to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +14.0% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 69%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Non-Enclosed Loudspeakers Exports

Exports in GCC

In 2021, shipments abroad of loudspeakers (not in enclosure) increased by 7% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2015 when exports increased by 316% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-enclosed loudspeakers exports skyrocketed to $X in 2021. Overall, exports, however, showed a perceptible shrinkage. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X units), together amounting to 98% of total export.

The United Arab Emirates was also the fastest-growing in terms of the loudspeakers (not in enclosure) exports, with a CAGR of -5.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest non-enclosed loudspeakers supplier in GCC.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at -1.8%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, jumping by 42% against the previous year. Over the period under review, the export price showed moderate growth. The pace of growth appeared the most rapid in 2019 an increase of 117%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +4.1% per year.

Non-Enclosed Loudspeakers Imports

Imports in GCC

In 2021, supplies from abroad of loudspeakers (not in enclosure) was finally on the rise to reach X units after three years of decline. Overall, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, non-enclosed loudspeakers imports soared to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X units, which was approx. 95% of total imports in 2021. Oman (X units) and Kuwait (X units) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of loudspeakers (not in enclosure). At the same time, Kuwait (+20.3%) and Oman (+13.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +20.3% from 2012-2021. While the share of Oman (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported loudspeakers (not in enclosure) in GCC, comprising 85% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 3.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Kuwait (+10.0% per year) and Oman (+9.7% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, leveling off at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 43%. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per unit), while Oman ($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 Arab Emirates (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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