Global Loudspeaker Market 2024

Loudspeaker Market Size

The global loudspeaker market stood at $X in 2021, growing by 8.3% against the previous year. Over the period under review, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.0% against 2016 indices. Global consumption peaked in 2021 and is likely to see gradual growth in the near future.

Loudspeaker Production

In value terms, loudspeaker production contracted remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 55% against the previous year. As a result, production attained the peak level of $X, and then dropped rapidly in the following year.

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Loudspeaker Exports

Exports

In 2021, overseas shipments of single loudspeakers (in enclosure) increased by 23% to X units, rising for the third year in a row after two years of decline. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 30%. The global exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, loudspeaker exports expanded to $X in 2021. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 30%. The global exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

China prevails in exports structure, recording X units, which was approx. 58% of total exports in 2021. It was distantly followed by Vietnam (X units), Germany (X units), the Netherlands (X units) and Belgium (X units), together generating a 26% share of total exports. The following exporters - Hong Kong SAR (X units) and Poland (X units) - each finished at a 4.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to loudspeaker exports from China stood at +8.3%. At the same time, Vietnam (+80.0%), Poland (+44.7%), Belgium (+42.0%), the Netherlands (+33.3%) and Germany (+25.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +80.0% from 2012-2021. By contrast, Hong Kong SAR (-11.1%) illustrated a downward trend over the same period. While the share of Vietnam (+7.7 p.p.), Germany (+5.2 p.p.), the Netherlands (+5.1 p.p.), Belgium (+4.4 p.p.) and Poland (+2 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of China (-8 p.p.) and Hong Kong SAR (-14.2 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest loudspeaker supplier worldwide, comprising 61% of global exports. The second position in the ranking was held by Germany ($X), with a 5.1% share of global exports. It was followed by Hong Kong SAR, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +13.7%. In the other countries, the average annual rates were as follows: Germany (+8.9% per year) and Hong Kong SAR (+5.6% per year).

Export Prices by Country

The average loudspeaker export price stood at $X per unit in 2021, which is down by -15.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 41% against the previous year. The global export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while Vietnam ($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 (+18.8%), while the other global leaders experienced more modest paces of growth.

Loudspeaker Imports

Imports

For the third consecutive year, the global market recorded growth in purchases abroad of single loudspeakers (in enclosure), which increased by 23% to X units in 2021. Overall, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% 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 +90.8% against 2016 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 31%. Global imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, loudspeaker imports rose markedly to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 +54.3% against 2016 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 29%. Over the period under review, global imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Germany (X units), distantly followed by Japan (X units), France (X units), the United States (X units) and the Netherlands (X units) were the key importers of single loudspeakers (in enclosure), together generating 40% of total imports. Mexico (X units), Hungary (X units), Belgium (X units), South Korea (X units), Spain (X units), Vietnam (X units), Slovakia (X units) and Hong Kong SAR (X units) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to loudspeaker imports into Germany stood at -2.9%. At the same time, the Netherlands (+32.5%), Spain (+25.3%), Slovakia (+22.4%), South Korea (+21.5%), Belgium (+16.6%), France (+11.5%), Hungary (+8.5%), Vietnam (+8.4%), Mexico (+6.7%), the United States (+3.4%) and Japan (+1.9%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +32.5% from 2012-2021. By contrast, Hong Kong SAR (-9.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands, Belgium, France, South Korea, Spain and Slovakia increased by +4.1, +2.4, +2.4, +2.3, +2.2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported single loudspeakers (in enclosure) worldwide, comprising 19% of global imports. The second position in the ranking was taken by Germany ($X), with a 7.5% share of global imports. It was followed by Hong Kong SAR, with a 7.4% share.

In the United States, loudspeaker imports expanded at an average annual rate of +6.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (+3.6% per year) and Hong Kong SAR (+3.8% per year).

Import Prices by Country

In 2021, the average loudspeaker import price amounted to $X per unit, reducing by -7.9% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, loudspeaker import price decreased by -30.7% against 2018 indices. The pace of growth appeared the most rapid in 2015 an increase of 33% against the previous year. Global import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United States ($X per unit), while Hungary ($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 (+15.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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