Kenya: Loudspeaker Market 2024

Loudspeaker Market Size in Kenya

The Kenyan loudspeaker market shrank markedly to $X in 2023, with a decrease of X% 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, however, continues to indicate moderate growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Loudspeaker Exports

Exports from Kenya

In 2023, overseas shipments of loudspeakers increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, loudspeaker exports reduced to $X in 2023. Over the period under review, exports, however, showed a perceptible downturn. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

Nigeria (X units) was the main destination for loudspeaker exports from Kenya, with a X% share of total exports. Moreover, loudspeaker exports to Nigeria exceeded the volume sent to the second major destination, Burundi (X units), fourfold. The third position in this ranking was taken by Angola (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Nigeria stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (X% per year) and Angola (X% per year).

In value terms, Nigeria ($X), Uganda ($X) and the Netherlands ($X) appeared to be the largest markets for loudspeaker exported from Kenya worldwide, together accounting for X% of total exports.

Nigeria, with a CAGR of X%, 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 loudspeaker export price stood at $X per unit in 2023, shrinking by X% against the previous year. Overall, the export price continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2022 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Uganda ($X per unit), while the average price for exports to Burundi ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Loudspeaker Imports

Imports into Kenya

In 2023, the amount of loudspeakers imported into Kenya reduced slightly to X units, approximately reflecting 2022. In general, imports, however, posted mild growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, loudspeaker imports reduced notably to $X in 2023. Over the period under review, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2022, and then dropped significantly in the following year.

Imports by Country

In 2023, China (X units) constituted the largest loudspeaker supplier to Kenya, accounting for a X% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), tenfold. Vietnam (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Vietnam (X% per year).

In value terms, China ($X), the United Arab Emirates ($X) and Vietnam ($X) constituted the largest loudspeaker suppliers to Kenya, together accounting for X% of total imports.

Among the main suppliers, Vietnam, with a CAGR of X%, 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

The average loudspeaker import price stood at $X per unit in 2023, falling by X% against the previous year. Over the period under review, the import price, however, saw a moderate increase. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per unit in 2022, and then contracted markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform