Kuwait: Multiple Loudspeakers Market 2024

Multiple Loudspeakers Market Size in Kuwait

The Kuwaiti multiple loudspeakers market surged to $X in 2021, jumping by 37% 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, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +11.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Multiple loudspeakers consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Multiple Loudspeakers Exports

Exports from Kuwait

In 2021, approx. X units of multiple loudspeakers (in enclosure) were exported from Kuwait; with a decrease of -81.8% compared with the previous year's figure. Overall, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 490%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, multiple loudspeakers exports dropped markedly to $X in 2021. Over the period under review, exports, however, showed slight growth. The pace of growth appeared the most rapid in 2019 when exports increased by 447% against the previous year. The exports peaked at $X in 2020, and then shrank significantly in the following year.

Exports by Country

India (X units), the United Arab Emirates (X units) and Saudi Arabia (X units) were the main destinations of multiple loudspeakers exports from Kuwait, together comprising 92% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +39.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for multiple loudspeakers exported from Kuwait were India ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 74% share of total exports. These countries were followed by Bahrain, which accounted for a further 11%.

Among the main countries of destination, Bahrain, with a CAGR of +16.2%, saw 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

The average multiple loudspeakers export price stood at $X per unit in 2021, with a decrease of -26.2% against the previous year. Over the period under review, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 25%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Bahrain ($X per unit), while the average price for exports to Saudi Arabia ($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 India (+7.7%), while the prices for the other major destinations experienced a decline.

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Multiple Loudspeakers Imports

Imports into Kuwait

In 2021, the amount of multiple loudspeakers (in enclosure) imported into Kuwait skyrocketed to X units, with an increase of 23% against the previous year. In general, imports posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 82%. Over the period under review, imports reached the maximum at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, multiple loudspeakers imports skyrocketed to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +11.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +40.8% against 2015 indices. The growth pace was the most rapid in 2013 when imports increased by 71%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest multiple loudspeakers supplier to Kuwait, accounting for a 50% share of total imports. Moreover, multiple loudspeakers imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fivefold. Malaysia (X units) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+59.6% per year) and Malaysia (+28.3% per year).

In value terms, the largest multiple loudspeakers suppliers to Kuwait were China ($X), Malaysia ($X) and the Netherlands ($X), together accounting for 38% of total imports. These countries were followed by Mexico, Italy, Vietnam, Germany, Indonesia and Hong Kong SAR, which together accounted for a further 30%.

Vietnam, with a CAGR of +62.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average multiple loudspeakers import price stood at $X per unit in 2021, rising by 13% against the previous year. In general, the import price saw a moderate increase. The growth pace was the most rapid in 2020 an increase of 43% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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