Africa: Loudspeaker Market 2024

Loudspeaker Market Size in Africa

The African loudspeaker market reduced to $X in 2022, dropping by -5.9% against the previous year. The total consumption indicated a pronounced 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, consumption decreased by -12.2% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Loudspeaker Production in Africa

In value terms, loudspeaker production declined to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 -14.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 37% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Loudspeaker Exports

Exports in Africa

In 2022, after three years of decline, there was significant growth in overseas shipments of loudspeakers, when their volume increased by 822% to X units. Over the period under review, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, loudspeaker exports surged to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 36%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Rwanda prevails in exports structure, resulting at X units, which was approx. 92% of total exports in 2022. It was distantly followed by South Africa (X units), creating a 6.1% share of total exports.

Rwanda was also the fastest-growing in terms of the loudspeakers exports, with a CAGR of +231.2% from 2012 to 2022. At the same time, South Africa (+6.3%) displayed positive paces of growth. While the share of Rwanda (+92 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (-22.7 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest loudspeaker supplier in Africa, comprising 67% of total exports. The second position in the ranking was taken by Rwanda ($X), with an 18% share of total exports.

In South Africa, loudspeaker exports expanded at an average annual rate of +2.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per unit, shrinking by -86.9% against the previous year. Over the period under review, the export price faced a abrupt decrease. The pace of growth was the most pronounced in 2018 an increase of 31%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Rwanda amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-3.3%).

Loudspeaker Imports

Imports in Africa

In 2022, supplies from abroad of loudspeakers increased by 18% to X units, rising for the sixth consecutive year after two years of decline. In general, imports posted a prominent increase. The growth pace was the most rapid in 2014 with an increase of 50%. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, loudspeaker imports expanded to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +71.8% against 2016 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 27%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Egypt represented the major importing country with an import of around X units, which accounted for 39% of total imports. It was distantly followed by South Africa (X units), Ghana (X units) and Kenya (X units), together generating a 34% share of total imports. Cameroon (X units), Morocco (X units), Nigeria (X units), Cote d'Ivoire (X units) and Algeria (X units) followed a long way behind the leaders.

Egypt was also the fastest-growing in terms of the loudspeakers imports, with a CAGR of +38.4% from 2012 to 2022. At the same time, Cote d'Ivoire (+36.6%), Cameroon (+19.6%), Ghana (+16.1%), Morocco (+14.4%), Kenya (+10.2%) and Nigeria (+1.7%) displayed positive paces of growth. South Africa experienced a relatively flat trend pattern. By contrast, Algeria (-8.9%) illustrated a downward trend over the same period. Egypt (+35 p.p.), Ghana (+4.1 p.p.) and Cameroon (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria, Algeria and South Africa saw its share reduced by -1.9%, -8.6% and -25.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported loudspeakers in Africa, comprising 29% of total imports. The second position in the ranking was held by Ghana ($X), with a 9.9% share of total imports. It was followed by Egypt, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled +2.4%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+22.9% per year) and Egypt (+9.4% per year).

Import Prices by Country

The import price in Africa stood at $X per unit in 2022, with a decrease of -13% against the previous year. In general, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2013 when the import price increased by 16% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained at a lower figure.

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 Nigeria ($X per unit), while Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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