ASEAN: Loudspeaker Market 2024

Loudspeaker Market Size in ASEAN

The ASEAN loudspeaker market reduced to $X in 2022, declining by -3.2% against the previous year. In general, consumption, however, continues to indicate strong growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Loudspeaker Production in ASEAN

In value terms, loudspeaker production expanded remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 75%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Loudspeaker Exports

Exports in ASEAN

In 2022, approx. X units of loudspeakers were exported in ASEAN; reducing by -9.8% against 2021. In general, exports showed a mild setback. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, loudspeaker exports declined modestly to $X in 2022. Over the period under review, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 28%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Vietnam represented the major exporting country with an export of around X units, which resulted at 49% of total exports. It was distantly followed by Singapore (X units), Malaysia (X units) and Thailand (X units), together achieving a 45% share of total exports. The following exporters - Indonesia (X units) and Myanmar (X units) - together made up 5.8% of total exports.

Exports from Vietnam increased at an average annual rate of +21.3% from 2012 to 2022. At the same time, Myanmar (+209.0%) and Thailand (+12.7%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +209.0% from 2012-2022. By contrast, Malaysia (-1.0%), Indonesia (-2.1%) and Singapore (-12.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Thailand and Myanmar increased by +42, +8.6 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest loudspeaker supplier in ASEAN, comprising 58% of total exports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total exports. It was followed by Malaysia, with a 14% share.

In Vietnam, loudspeaker exports increased at an average annual rate of +18.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+16.7% per year) and Malaysia (+3.5% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, growing by 9.5% against the previous year. In general, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2019 when the export price increased by 37%. The level of export peaked at $X per unit in 2020; however, from 2021 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 Indonesia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+11.9%), while the other leaders experienced more modest paces of growth.

Loudspeaker Imports

Imports in ASEAN

In 2022, after two years of growth, there was significant decline in overseas purchases of loudspeakers, when their volume decreased by -7.1% to X units. Over the period under review, imports recorded a slight contraction. The pace of growth appeared the most rapid in 2021 with an increase of 48% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, loudspeaker imports expanded sharply to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +66.4% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 23%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Vietnam represented the main importing country with an import of about X units, which recorded 44% of total imports. It was distantly followed by Malaysia (X units), Thailand (X units), Singapore (X units) and the Philippines (X units), together committing a 52% share of total imports. Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +14.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined 73% share of total imports. Malaysia, Indonesia and the Philippines lagged somewhat behind, together comprising a further 25%.

The Philippines, with a CAGR of +16.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, increasing by 14% against the previous year. In general, the import price recorded a remarkable increase. The pace of growth was the most pronounced in 2016 an increase of 128%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, 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 Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform