India: Multiple Loudspeakers Market 2024

Multiple Loudspeakers Market Size in India

The Indian multiple loudspeakers market soared to $X in 2021, picking up by 27% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a buoyant increase. Multiple loudspeakers consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Multiple Loudspeakers Exports

Exports from India

In 2021, shipments abroad of multiple loudspeakers (in enclosure) was finally on the rise to reach X units after two years of decline. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 823%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, multiple loudspeakers exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 1,609% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for multiple loudspeakers exports from India, accounting for a 36% share of total exports. Moreover, multiple loudspeakers exports to the United Arab Emirates exceeded the volume sent to the second major destination, Belgium (X units), twofold. Bangladesh (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+172.9% per year) and Bangladesh (+33.8% per year).

In value terms, the largest markets for multiple loudspeakers exported from India were Sri Lanka ($X), the United States ($X) and the United Arab Emirates ($X), together accounting for 27% of total exports. Bangladesh, Belgium, Ethiopia, Bhutan, South Africa, Iraq, Egypt and Ecuador lagged somewhat behind, together accounting for a further 21%.

South Africa, with a CAGR of +182.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average multiple loudspeakers export price stood at $X per unit in 2021, surging by 15% against the previous year. In general, the export price recorded a remarkable increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 85% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to Ecuador ($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 Egypt (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Multiple Loudspeakers Imports

Imports into India

In 2021, supplies from abroad of multiple loudspeakers (in enclosure) was finally on the rise to reach X units after two years of decline. Over the period under review, imports showed a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by 326%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, multiple loudspeakers imports soared to $X in 2021. In general, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 232% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main multiple loudspeakers supplier to India, with a 90% share of total imports. Moreover, multiple loudspeakers imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. The third position in this ranking was taken by Vietnam (X units), with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+44.5% per year) and Vietnam (+4.1% per year).

In value terms, China ($X) constituted the largest supplier of multiple loudspeakers (in enclosure) to India, comprising 68% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 10% share of total imports. It was followed by Vietnam, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+30.5% per year) and Vietnam (+15.9% per year).

Import Prices by Country

The average multiple loudspeakers import price stood at $X per unit in 2021, picking up by 6.2% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, multiple loudspeakers import price increased by +19.7% against 2017 indices. The pace of growth was the most pronounced in 2013 an increase of 53% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+11.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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