Scandinavia: Loudspeaker Market 2024

Loudspeaker Market Size in Scandinavia

The Scandinavia loudspeaker market reached $X in 2021, rising by 6.6% against the previous year. Overall, consumption posted prominent growth. The level of consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Loudspeaker Production in Scandinavia

In value terms, loudspeaker production reduced sharply to $X in 2021 estimated in export price. Over the period under review, production, however, posted prominent growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 194%. As a result, production reached the peak level of $X, and then fell dramatically in the following year.

Loudspeaker Exports

Exports in Scandinavia

In 2021, the amount of single loudspeakers (in enclosure) exported in Scandinavia surged to X units, picking up by 58% compared with the year before. Over the period under review, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 65%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, loudspeaker exports surged to $X in 2021. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 36% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Sweden (X units) and Denmark (X units) prevails in exports structure, together mixing up 91% of total exports. It was distantly followed by Finland (X units), making up a 4.8% share of total exports. Norway (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Sweden (with a CAGR of +24.3%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) remains the largest loudspeaker supplier in Scandinavia, comprising 62% of total exports. The second position in the ranking was held by Sweden ($X), with a 24% share of total exports. It was followed by Norway, with an 11% share.

In Denmark, loudspeaker exports expanded at an average annual rate of +4.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sweden (+8.8% per year) and Norway (-6.2% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, with a decrease of -27% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2014 an increase of 14%. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (-2.6%), while the other leaders experienced a decline in the export price figures.

Loudspeaker Imports

Imports in Scandinavia

Loudspeaker imports surged to X units in 2021, rising by 68% on 2020 figures. Over the period under review, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, loudspeaker imports rose sharply to $X in 2021. Total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 32%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Sweden was the major importing country with an import of around X units, which accounted for 55% of total imports. Denmark (X units) took the second position in the ranking, distantly followed by Finland (X units). All these countries together took near 41% share of total imports. The following importers - Norway (X units) and Iceland (X units) - each finished at a 4.3% share of total imports.

Imports into Sweden increased at an average annual rate of +24.4% from 2012 to 2021. At the same time, Denmark (+25.8%), Finland (+23.5%), Iceland (+7.5%) and Norway (+2.1%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +25.8% from 2012-2021. Sweden (+7.3 p.p.) and Denmark (+5.6 p.p.) significantly strengthened its position in terms of the total imports, while Iceland and Norway saw its share reduced by -4.6% and -9.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Denmark ($X) and Norway ($X) were the countries with the highest levels of imports in 2021, with a combined 88% share of total imports. These countries were followed by Finland and Iceland, which together accounted for a further 12%.

Iceland, with a CAGR of +8.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2021, declining by -36.5% against the previous year. Over the period under review, the import price saw a abrupt decrease. The growth pace was the most rapid in 2017 when the import price increased by 9.4% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iceland (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :