Latin America and the Caribbean: Non-Enclosed Loudspeakers Market 2024

Non-Enclosed Loudspeakers Market Size in Latin America and the Caribbean

The Latin American non-enclosed loudspeakers market skyrocketed to $X in 2021, increasing by 75% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Non-Enclosed Loudspeakers Production in Latin America and the Caribbean

In value terms, non-enclosed loudspeakers production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production enjoyed temperate growth. The pace of growth appeared the most rapid in 2015 with an increase of 141% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

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Non-Enclosed Loudspeakers Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of loudspeakers (not in enclosure) decreased by -29.1% to X units, falling for the third consecutive year after five years of growth. Overall, exports, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 47% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-enclosed loudspeakers exports rose modestly to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 28% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Mexico (X units) represented roughly 97% of total exports in 2021.

Mexico was also the fastest-growing in terms of the loudspeakers (not in enclosure) exports, with a CAGR of +7.6% from 2012 to 2021. From 2012 to 2021, the share of Mexico increased by +24 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) also remains the largest non-enclosed loudspeakers supplier in Latin America and the Caribbean.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +1.1%.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, growing by 44% against the previous year. Overall, the export price, however, recorded a perceptible setback. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Mexico amounted to -6.0% per year.

Non-Enclosed Loudspeakers Imports

Imports in Latin America and the Caribbean

In 2021, after three years of decline, there was significant growth in purchases abroad of loudspeakers (not in enclosure), when their volume increased by 60% to X units. Overall, imports, however, continue to indicate a abrupt shrinkage. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, non-enclosed loudspeakers imports surged to $X in 2021. In general, imports, however, continue to indicate a pronounced decrease. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X units) and Brazil (X units) were the largest importers of loudspeakers (not in enclosure) in 2021, accounting for approx. 37% and 28% of total imports, respectively. It was distantly followed by Argentina (X units), Panama (X units) and Guatemala (X units), together creating a 22% share of total imports. The following importers - Paraguay (X units) and Nicaragua (X units) - each recorded a 4.3% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Nicaragua (with a CAGR of +13.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported loudspeakers (not in enclosure) in Latin America and the Caribbean, comprising 55% of total imports. The second position in the ranking was taken by Brazil ($X), with a 10% share of total imports. It was followed by Argentina, with an 8.4% share.

In Mexico, non-enclosed loudspeakers imports decreased by an average annual rate of -1.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-9.6% per year) and Argentina (-0.7% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -23.2% against the previous year. Import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-enclosed loudspeakers import price decreased by -24.7% against 2019 indices. The pace of growth was the most pronounced in 2015 when the import price increased by 43% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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