Mexico - Loudspeakers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMexico's Loudspeaker Exports Surge Significantly to $767M in 2023
Mexico Loudspeaker Exports
In 2023, approx. 65M units of loudspeakers were exported from Mexico; rising by 16% against the year before. Over the period under review, exports posted a modest expansion. The growth pace was the most rapid in 2021 when exports increased by 91% against the previous year. The exports peaked in 2023 and are expected to retain growth in years to come.
In value terms, loudspeaker exports expanded remarkably to $767M (IndexBox estimates) in 2023. In general, exports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2022 with an increase of 22%. The exports peaked at $1B in 2013; however, from 2014 to 2023, the exports remained at a lower figure.
| COUNTRY | Export Value of Loudspeaker in Mexico (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 1,007 | 953 | 863 | 839 | 867 | 687 | 658 | 510 | 513 | 589 | 721 |
| China | 4.4 | 10.6 | 8.4 | 7.3 | 19.6 | 24.6 | 10.2 | 22.2 | 28.1 | 75.1 | 32.8 |
| Germany | 12.0 | 17.0 | 14.7 | 16.6 | 15.4 | 13.6 | 13.6 | 9.0 | 9.0 | 10.2 | 8.9 |
| Belgium | 0.7 | N/A | N/A | N/A | 66.0 | N/A | 46.1 | 35.5 | N/A | N/A | 2.0 |
| Others | 18.5 | 15.9 | 10.4 | 5.0 | 37.2 | 39.2 | 44.0 | 27.9 | 4.8 | 4.5 | 2.5 |
| Total | 1,042 | 996 | 896 | 868 | 1,005 | 764 | 771 | 604 | 555 | 679 | 767 |
Exports by Country
the United States (62M units) was the main destination for loudspeaker exports from Mexico, with a 95% share of total exports. Moreover, loudspeaker exports to the United States exceeded the volume sent to the second major destination, China (2.4M units), more than tenfold. The third position in this ranking was taken by Germany (821K units), with a 1.3% share.
From 2013 to 2023, the average annual growth rate of volume to the United States amounted to +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+27.0% per year) and Germany (-2.6% per year).
In value terms, the United States ($721M) remains the key foreign market for loudspeakers exports from Mexico, comprising 94% of total exports. The second position in the ranking was taken by China ($33M), with a 4.3% share of total exports. It was followed by Germany, with a 1.2% share.
From 2013 to 2023, the average annual growth rate of value to the United States totaled -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+22.4% per year) and Germany (-2.9% per year).
Exports by Type
Loudspeakers (not in enclosure) (56M units) was the largest type of loudspeakers exported from Mexico, accounting for a 86% share of total exports. Moreover, loudspeakers (not in enclosure) exceeded the volume of the second product type, single loudspeakers (in enclosure) (8.4M units), sevenfold.
From 2013 to 2023, the average annual rate of growth in terms of the volume of loudspeakers (not in enclosure) exports totaled +2.3%. With regard to the other exported products, the following average annual rates of growth were recorded: single loudspeakers (in enclosure) (+4.2% per year) and multiple loudspeakers (in enclosure) (-16.3% per year).
In value terms, loudspeakers (not in enclosure) ($416M), single loudspeakers (in enclosure) ($243M) and multiple loudspeakers (in enclosure) ($107M) were the most exported types of loudspeakers from Mexico worldwide.
Among the main product categories, loudspeakers (not in enclosure), with a CAGR of +1.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced a decline.
Export Prices by Country
In 2023, the loudspeaker price amounted to $12 per unit (FOB, Mexico), reducing by -2.7% against the previous year. In general, the export price saw a pronounced decrease. The most prominent rate of growth was recorded in 2014 an increase of 194%. Over the period under review, the average export prices reached the peak figure at $99 per unit in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was China ($13 per unit), while the average price for exports to Germany ($11 per unit) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-0.3%), while the prices for the other major destinations experienced a decline.
This report provides an in-depth analysis of the loudspeaker market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26404235 - Single loudspeakers mounted in their enclosures (including frames or cabinets mainly designed for mounting loudspeakers)
- Prodcom 26404237 - Multiple loudspeakers mounted in the same enclosure (including frames or cabinets mainly designed for mounting loudspeakers)
- Prodcom 26404239 - Loudspeakers (including speaker drive units, frames or cabinets mainly designed for mounting loudspeakers) (excluding those mounted in their enclosures)
Country coverage:
- Mexico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Mexico
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
