Morocco: Loudspeaker Market 2024

Loudspeaker Market Size in Morocco

The Moroccan loudspeaker market surged to $X in 2021, jumping by 61% 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 recorded a buoyant expansion. Loudspeaker consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Loudspeaker Exports

Exports from Morocco

In 2021, loudspeaker exports from Morocco shrank rapidly to X units, falling by -67.4% against 2020. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 793% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, loudspeaker exports shrank sharply to $X in 2021. Overall, exports, however, showed a resilient increase. The growth pace was the most rapid in 2018 when exports increased by 334%. Over the period under review, the exports hit record highs at $X in 2020, and then fell remarkably in the following year.

Exports by Country

Tunisia (X units) was the main destination for loudspeaker exports from Morocco, with a 76% share of total exports. Moreover, loudspeaker exports to Tunisia exceeded the volume sent to the second major destination, Mauritania (X units), more than tenfold. Senegal (X units) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tunisia amounted to +900.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritania (-37.2% per year) and Senegal (-45.0% per year).

In value terms, Tunisia ($X), Niger ($X) and Mauritania ($X) appeared to be the largest markets for loudspeaker exported from Morocco worldwide, together accounting for 95% of total exports.

Among the main countries of destination, Tunisia, with a CAGR of +1,233.5%, 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

In 2021, the average loudspeaker export price amounted to $X per unit, increasing by 126% against the previous year. Over the period under review, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 203%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Niger ($X per unit), while the average price for exports to Senegal ($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 Equatorial Guinea (+175.3%), while the prices for the other major destinations experienced more modest paces of growth.

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Loudspeaker Imports

Imports into Morocco

In 2021, imports of single loudspeakers (in enclosure) into Morocco surged to X units, jumping by 100% on 2020 figures. Overall, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 120%. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, loudspeaker imports soared to $X in 2021. In general, imports showed prominent growth. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest loudspeaker supplier to Morocco, with a 81% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+24.0% per year) and Taiwan (Chinese) (+1.4% per year).

In value terms, China ($X) constituted the largest supplier of single loudspeakers (in enclosure) to Morocco, comprising 65% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.4% share of total imports. It was followed by the Czech Republic, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+21.2% per year) and the Czech Republic (+20.0% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2021, falling by -25.3% against the previous year. Overall, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, loudspeaker import price increased by +15.4% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 55% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+37.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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