Eastern Asia: Loudspeaker Market 2024

Loudspeaker Market Size in Eastern Asia

After three years of growth, the East Asian loudspeaker market decreased by -60.1% to $X in 2021. Over the period under review, consumption, however, posted a strong increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Loudspeaker Production in Eastern Asia

In value terms, loudspeaker production shrank to $X in 2021 estimated in export price. Overall, production, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 171%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Loudspeaker Exports

Exports in Eastern Asia

In 2021, shipments abroad of single loudspeakers (in enclosure) increased by 33% to X units, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +6.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, loudspeaker exports rose markedly to $X in 2021. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 29%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, reaching X units, which was near 95% of total exports in 2021. Hong Kong SAR (X units) took a minor share of total exports.

China was also the fastest-growing in terms of the single loudspeakers (in enclosure) exports, with a CAGR of +8.3% from 2012 to 2021. Hong Kong SAR (-11.1%) illustrated a downward trend over the same period. China (+16 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -16% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest loudspeaker supplier in Eastern Asia, comprising 91% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 7.5% share of total exports.

In China, loudspeaker exports expanded at an average annual rate of +13.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, dropping by -18.3% against the previous year. Over the period under review, the export price, however, saw a remarkable increase. The growth pace was the most rapid in 2017 an increase of 29%. Over the period under review, the export prices reached the peak figure at $X per unit in 2020, and then fell rapidly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per unit), while China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+18.8%).

Loudspeaker Imports

Imports in Eastern Asia

In 2021, supplies from abroad of single loudspeakers (in enclosure) increased by 26% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports showed a relatively flat trend pattern. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, loudspeaker imports surged to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +27.6% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan was the main importer of single loudspeakers (in enclosure) in Eastern Asia, with the volume of imports accounting for X units, which was near 51% of total imports in 2021. South Korea (X units) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (19%). Taiwan (Chinese) (X units) and China (X units) held a little share of total imports.

Imports into Japan increased at an average annual rate of +1.9% from 2012 to 2021. At the same time, China (+26.8%), South Korea (+21.5%) and Taiwan (Chinese) (+6.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +26.8% from 2012-2021. By contrast, Hong Kong SAR (-9.9%) illustrated a downward trend over the same period. South Korea (+20 p.p.), Japan (+7.5 p.p.) and China (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -30.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported single loudspeakers (in enclosure) in Eastern Asia, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with a 21% share of total imports. It was followed by South Korea, with a 16% share.

In Hong Kong SAR, loudspeaker imports increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+4.7% per year) and South Korea (+14.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, rising by 2.3% against the previous year. Import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.6% 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 increased by +73.0% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of 37%. The level of import peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per unit), while Japan ($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 leaders experienced more modest paces of growth.

Source: IndexBox Platform

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