U.S.: Loudspeaker Market 2024

Loudspeaker Market Size in the U.S.

After two years of growth, the U.S. loudspeaker market decreased by -12.8% to $X in 2021. In general, consumption, however, showed strong growth. As a result, consumption attained the peak level of $X, and then fell in the following year.

Loudspeaker Production in the U.S.

In value terms, loudspeaker production contracted significantly to $X in 2021. In general, production, however, enjoyed significant growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 318% against the previous year. As a result, production reached the peak level of $X, and then shrank significantly in the following year.

Loudspeaker Exports

Exports from the U.S.

In 2021, shipments abroad of single loudspeakers (in enclosure) was finally on the rise to reach X units for the first time since 2014, thus ending a six-year declining trend. In general, exports, however, showed a slight decrease. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, loudspeaker exports rose markedly to $X in 2021. Over the period under review, exports, however, showed a mild descent. The pace of growth appeared the most rapid in 2017 with an increase of 48% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico (X units) was the main destination for loudspeaker exports from the United States, accounting for a 60% share of total exports. Moreover, loudspeaker exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), fourfold. The United Arab Emirates (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-10.2% per year) and the United Arab Emirates (+6.0% per year).

In value terms, Canada ($X), Mexico ($X) and Japan ($X) constituted the largest markets for loudspeaker exported from the United States worldwide, together comprising 56% of total exports. China, Paraguay and the United Arab Emirates lagged somewhat behind, together comprising a further 9.8%.

In terms of the main countries of destination, Paraguay, with a CAGR of +36.5%, 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

The average loudspeaker export price stood at $X per unit in 2021, declining by -26.9% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 65%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to the United Arab Emirates ($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 Canada (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into the U.S.

In 2021, supplies from abroad of single loudspeakers (in enclosure) was finally on the rise to reach X units after two years of decline. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2013 with an increase of 30% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, loudspeaker imports surged to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.1% 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 +23.7% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 41% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest supplier of loudspeaker to the United States, accounting for a 75% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), ninefold. Vietnam (X units) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+7.4% per year) and Vietnam (+53.7% per year).

In value terms, China ($X) constituted the largest supplier of single loudspeakers (in enclosure) to the United States, comprising 61% of total imports. The second position in the ranking was held by Mexico ($X), with a 20% share of total imports. It was followed by Vietnam, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+9.0% per year) and Vietnam (+44.2% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2021, surging by 2.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 40% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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