Middle East: Loudspeaker Market 2024

Loudspeaker Market Size in the Middle East

In 2021, after four years of growth, there was significant decline in the Middle Eastern loudspeaker market, when its value decreased by -12.3% to $X. Overall, consumption enjoyed a strong expansion. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Loudspeaker Production in the Middle East

In value terms, loudspeaker production reduced remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 178%. As a result, production attained the peak level of $X, and then declined significantly in the following year.

Loudspeaker Exports

Exports in the Middle East

After two years of growth, shipments abroad of single loudspeakers (in enclosure) decreased by -26.7% to X units in 2021. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 617% against the previous year. The volume of export peaked at X units in 2020, and then dropped markedly in the following year.

In value terms, loudspeaker exports totaled $X in 2021. In general, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 94%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the major exporting country with an export of around X units, which amounted to 66% of total exports. Israel (X units) held the second position in the ranking, followed by the United Arab Emirates (X units) and Turkey (X units). All these countries together took approx. 33% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the single loudspeakers (in enclosure) exports, with a CAGR of +54.6% from 2012 to 2021. At the same time, Israel (+49.9%), Turkey (+19.8%) and the United Arab Emirates (+17.6%) displayed positive paces of growth. Saudi Arabia (+46 p.p.) and Israel (+8.9 p.p.) significantly strengthened its position in terms of the total exports, while Turkey and the United Arab Emirates saw its share reduced by -15.7% and -25.1% from 2012 to 2021, respectively.

In value terms, the largest loudspeaker supplying countries in the Middle East were the United Arab Emirates ($X), Saudi Arabia ($X) and Turkey ($X), together accounting for 94% of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of +34.0%, saw the highest rates of growth with regard to 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 2021, the export price in the Middle East amounted to $X per unit, growing by 47% against the previous year. In general, the export price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2016 when the export price increased by 237%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while Israel ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+4.0%), while the other leaders experienced a decline in the export price figures.

Loudspeaker Imports

Imports in the Middle East

Loudspeaker imports skyrocketed to X units in 2021, jumping by 19% compared with the year before. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 36% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, loudspeaker imports reached $X in 2021. The total import value increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 26%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

Turkey (X units), Israel (X units) and the United Arab Emirates (X units) represented roughly 83% of total imports in 2021. It was distantly followed by Oman (X units), achieving a 5.6% share of total imports. Iraq (X units) and Iran (X units) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +46.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported single loudspeakers (in enclosure) in the Middle East, comprising 40% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports. It was followed by Israel, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +2.9%. In the other countries, the average annual rates were as follows: Turkey (+6.7% per year) and Israel (+12.7% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per unit, which is down by -3.4% against the previous year. Over the period under review, the import price showed a slight descent. The growth pace was the most rapid in 2015 when the import price increased by 8.6%. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Iraq ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+4.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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