Vietnam: Electric Sound Amplifier Market 2024

Electric Sound Amplifier Market Size in Vietnam

For the third year in a row, the Vietnamese electric sound amplifier market recorded decline in sales value, which decreased by -97.7% to $X in 2022. Over the period under review, consumption recorded a sharp contraction. Electric sound amplifier consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Electric Sound Amplifier Production in Vietnam

In value terms, electric sound amplifier production reached $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced increase. The growth pace was the most rapid in 2016 with an increase of 57% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electric Sound Amplifier Exports

Exports from Vietnam

In 2022, overseas shipments of electric sound amplifier sets increased by 17% to X units, rising for the seventh year in a row after three years of decline. Overall, exports posted a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 217%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, electric sound amplifier exports fell slightly to $X in 2022. In general, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 221%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell modestly in the following year.

Exports by Country

The UK (X units) was the main destination for electric sound amplifier exports from Vietnam, accounting for a 58% share of total exports. Moreover, electric sound amplifier exports to the UK exceeded the volume sent to the second major destination, France (X units), fivefold. Japan (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+16.9% per year) and Japan (+59.5% per year).

In value terms, the UK ($X), Japan ($X) and France ($X) appeared to be the largest markets for electric sound amplifier exported from Vietnam worldwide, together accounting for 59% of total exports.

Japan, with a CAGR of +60.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electric sound amplifier export price amounted to $X per unit, waning by -16.6% against the previous year. In general, the export price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2014 an increase of 37%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.4%), while the prices for the other major destinations experienced a decline.

Electric Sound Amplifier Imports

Imports into Vietnam

Electric sound amplifier imports into Vietnam soared to X units in 2022, jumping by 32% compared with 2021 figures. Over the period under review, imports showed a significant increase. The pace of growth was the most pronounced in 2018 when imports increased by 373% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, electric sound amplifier imports skyrocketed to $X in 2022. Overall, imports recorded a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 116%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest electric sound amplifier supplier to Vietnam, with a 77% share of total imports. Moreover, electric sound amplifier imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +47.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+41.0% per year) and Japan (+17.5% per year).

In value terms, China ($X) constituted the largest supplier of electric sound amplifier sets to Vietnam, comprising 63% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+18.9% per year) and Japan (+30.9% per year).

Import Prices by Country

The average electric sound amplifier import price stood at $X per unit in 2022, reducing by -10.2% against the previous year. In general, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 39%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+11.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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