Multiple Loudspeakers Market

The article discusses the projected growth of the global multiple loudspeakers market from 2022 to 2030, with a forecasted CAGR of +2.1% in volume and +4.2% in value terms. It analyzes consumption trends, production volumes, imports, and exports, highlighting the key players in the market such as China, the United States, and Japan. The article also provides insights into the average prices, growth rates, and market shares of different countries in the global market.

Market Forecast

Driven by increasing demand for multiple loudspeakers (in enclosure) worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 276M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $24.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Multiple Loudspeakers (In Enclosure)

In 2022, consumption of multiple loudspeakers (in enclosure) increased by 9.9% to 234M units, rising for the second year in a row after two years of decline. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.3% against 2020 indices. Over the period under review, global consumption hit record highs in 2022 and is likely to see steady growth in years to come.

The global multiple loudspeakers market revenue expanded significantly to $17.8B in 2022, surging by 9.5% 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). In general, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +85.0% against 2012 indices. Over the period under review, the global market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (58M units), the United States (42M units) and Japan (14M units), with a combined 49% share of global consumption. India, Mexico, Indonesia, Thailand, Germany, Canada, France, Saudi Arabia and the UK lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +21.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest multiple loudspeakers markets worldwide were China ($3.2B), Japan ($2.9B) and the United States ($2.6B), together comprising 49% of the global market. Indonesia, Thailand, Saudi Arabia, Germany, Canada, Mexico, France, India and the UK lagged somewhat behind, together accounting for a further 32%.

Among the main consuming countries, India, with a CAGR of +21.5%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of multiple loudspeakers per capita consumption in 2022 were the United States (125 units per 1000 persons), Canada (120 units per 1000 persons) and Saudi Arabia (118 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +20.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Multiple Loudspeakers (In Enclosure)

In 2022, approx. 211M units of multiple loudspeakers (in enclosure) were produced worldwide; falling by -1.9% against the previous year's figure. In general, production, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 81%. As a result, production reached the peak volume of 236M units. From 2019 to 2022, global production growth failed to regain momentum.

In value terms, multiple loudspeakers production rose notably to $16.1B in 2022 estimated in export price. Over the period under review, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -16.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 29% against the previous year. As a result, production reached the peak level of $19.3B. From 2019 to 2022, global production growth failed to regain momentum.

Production By Country

The country with the largest volume of multiple loudspeakers production was China (151M units), comprising approx. 71% of total volume. Moreover, multiple loudspeakers production in China exceeded the figures recorded by the second-largest producer, Japan (11M units), more than tenfold. The third position in this ranking was taken by Thailand (7.5M units), with a 3.5% share.

In China, multiple loudspeakers production expanded at an average annual rate of +2.3% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Japan (+10.1% per year) and Thailand (+37.9% per year).

Imports

World Imports of Multiple Loudspeakers (In Enclosure)

For the third consecutive year, the global market recorded growth in purchases abroad of multiple loudspeakers (in enclosure), which increased by 12% to 169M units in 2022. The total import volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 24% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, multiple loudspeakers imports soared to $10B in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.9% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports By Country

The United States represented the largest importing country with an import of around 45M units, which resulted at 26% of total imports. It was distantly followed by the Netherlands (14M units), India (13M units), Mexico (8M units) and Germany (7.7M units), together generating a 25% share of total imports. France (4.9M units), the UK (3.9M units), Hong Kong SAR (3.7M units), Brazil (3.5M units), Thailand (3.5M units), Canada (3M units), Spain (2.9M units) and Poland (2.8M units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +5.9% from 2012 to 2022. At the same time, India (+21.4%), the Netherlands (+17.4%), Poland (+14.3%), Germany (+12.0%), Thailand (+7.2%), Canada (+5.9%), France (+3.7%), Brazil (+3.6%), Spain (+3.2%) and the UK (+2.1%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +21.4% from 2012-2022. By contrast, Mexico (-1.0%) and Hong Kong SAR (-12.8%) illustrated a downward trend over the same period. India (+5.9 p.p.), the Netherlands (+5.7 p.p.), the United States (+4 p.p.) and Germany (+2.4 p.p.) significantly strengthened its position in terms of the global imports, while Mexico and Hong Kong SAR saw its share reduced by -3.1% and -10.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.9B) constitutes the largest market for imported multiple loudspeakers (in enclosure) worldwide, comprising 29% of global imports. The second position in the ranking was taken by Germany ($757M), with a 7.6% share of global imports. It was followed by the Netherlands, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +10.2%. In the other countries, the average annual rates were as follows: Germany (+8.1% per year) and the Netherlands (+16.4% per year).

Import Prices By Country

The average multiple loudspeakers import price stood at $59 per unit in 2022, picking up by 4.3% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2016 an increase of 13%. Global import price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($125 per unit), while India ($19 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+12.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Multiple Loudspeakers (In Enclosure)

Global multiple loudspeakers exports dropped modestly to 146M units in 2022, which is down by -4.8% against the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 102% against the previous year. As a result, the exports attained the peak of 162M units. From 2019 to 2022, the growth of the global exports remained at a lower figure.

In value terms, multiple loudspeakers exports expanded sharply to $9.3B in 2022. Overall, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +30.2% against 2019 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 20% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports By Country

China dominates exports structure, resulting at 94M units, which was near 65% of total exports in 2022. The Netherlands (15M units) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (5.4%). The following exporters - Malaysia (5.1M units), Thailand (3.9M units), the Czech Republic (3.4M units) and Germany (2.8M units) - together made up 10% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of multiple loudspeakers (in enclosure). At the same time, Thailand (+111.3%), the Netherlands (+24.1%), the Czech Republic (+20.6%), Malaysia (+9.5%) and Germany (+9.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +111.3% from 2012-2022. By contrast, Hong Kong SAR (-11.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands, Thailand, Malaysia and the Czech Republic increased by +8.8, +2.7, +2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($4.4B) remains the largest multiple loudspeakers supplier worldwide, comprising 48% of global exports. The second position in the ranking was held by the Netherlands ($1B), with an 11% share of global exports. It was followed by Germany, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +8.9%. In the other countries, the average annual rates were as follows: the Netherlands (+24.0% per year) and Germany (+7.2% per year).

Export Prices By Country

The average multiple loudspeakers export price stood at $64 per unit in 2022, picking up by 18% against the previous year. Overall, the export price continues to indicate a prominent expansion. The growth pace was the most rapid in 2015 an increase of 106% against the previous year. Over the period under review, the average export prices hit record highs at $115 per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($162 per unit), while Hong Kong SAR ($33 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.8%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform