Kuwait: Loudspeaker Market 2024

Loudspeaker Market Size in Kuwait

The Kuwaiti loudspeaker market rose remarkably to $X in 2023, surging by 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). Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Loudspeaker consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Loudspeaker Exports

Exports from Kuwait

Loudspeaker exports from Kuwait soared to X units in 2023, with an increase of X% compared with 2022 figures. Over the period under review, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X units. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, loudspeaker exports surged to $X in 2023. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

Qatar (X units), Saudi Arabia (X units) and Jordan (X units) were the main destinations of loudspeaker exports from Kuwait, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Jordan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Qatar ($X) and Bahrain ($X) were the largest markets for loudspeaker exported from Kuwait worldwide, with a combined X% share of total exports. Jordan, the United States, Ethiopia, Morocco, Egypt, Lebanon, Iran and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Morocco, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average loudspeaker export price amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2023, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Lebanon ($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 Morocco (X%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Kuwait

Loudspeaker imports into Kuwait expanded notably to X units in 2023, increasing by X% against the previous year. In general, total imports indicated a buoyant increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X units in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, loudspeaker imports expanded markedly to $X in 2023. Over the period under review, total imports indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X units) constituted the largest loudspeaker supplier to Kuwait, 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), fourfold. Vietnam (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms 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) were the largest loudspeaker suppliers to Kuwait, with a combined X% share of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the average loudspeaker import price amounted to $X per unit, declining by X% against the previous year. Over the period under review, the import price continues to indicate a noticeable setback. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform