Australia: Loudspeaker Market 2024

Loudspeaker Market Size in Australia

For the third consecutive year, the Australian loudspeaker market recorded growth in sales value, which increased by 24% to $X in 2022. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +44.7% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Loudspeaker Exports

Exports from Australia

In 2022, loudspeaker exports from Australia dropped sharply to X units, with a decrease of -36.5% on 2021 figures. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.4% 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 +23.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 94% against the previous year. As a result, the exports attained the peak of X units, and then fell sharply in the following year.

In value terms, loudspeaker exports contracted to $X in 2022. Overall, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 97% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

New Zealand (X units) was the main destination for loudspeaker exports from Australia, with a 53% share of total exports. Moreover, loudspeaker exports to New Zealand exceeded the volume sent to the second major destination, the United Arab Emirates (X units), sixfold. The third position in this ranking was taken by China (X units), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand totaled +9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+23.0% per year) and China (+9.8% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for loudspeakers exports from Australia, comprising 56% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9% share of total exports. It was followed by China, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value to New Zealand stood at +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+23.4% per year) and China (+12.6% per year).

Export Prices by Country

The average loudspeaker export price stood at $X per unit in 2022, picking up by 38% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, loudspeaker export price increased by +90.5% against 2014 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Australia

In 2022, supplies from abroad of loudspeakers increased by 17% to X units, rising for the second consecutive year after two years of decline. Overall, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, loudspeaker imports surged to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 +47.1% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 26% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest loudspeaker supplier to Australia, accounting for a 84% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-4.9% per year) and Taiwan (Chinese) (-10.8% per year).

In value terms, China ($X) constituted the largest supplier of loudspeakers to Australia, comprising 75% of total imports. The second position in the ranking was held by Vietnam ($X), with a 6.8% share of total imports. It was followed by Malaysia, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+23.7% per year) and Malaysia (+20.3% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2022, picking up by 5.5% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price 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, loudspeaker import price increased by +108.9% against 2012 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 24% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Taiwan (Chinese) ($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 (+30.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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