Azerbaijan: Loudspeaker Market 2024

Loudspeaker Market Size in Azerbaijan

The Azerbaijani loudspeaker market fell sharply to $X in 2021, with a decrease of -32% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a significant expansion. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Loudspeaker Exports

Exports from Azerbaijan

In 2021, approx. X units of single loudspeakers (in enclosure) were exported from Azerbaijan; which is down by -13% on 2020 figures. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 2,200% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, loudspeaker exports shrank remarkably to $X in 2021. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 13,613%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X units), the United States (X units) and the Netherlands (X units) were the main destinations of loudspeaker exports from Azerbaijan, together accounting for 55% of total exports.

From 2014 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +28.5%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for single loudspeakers (in enclosure) exports from Azerbaijan, comprising 49% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by Russia, with a 12% share.

From 2014 to 2021, the average annual growth rate of value to the UK stood at +76.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+56.2% per year) and Russia (0.0% per year).

Export Prices by Country

The average loudspeaker export price stood at $X per unit in 2021, dropping by -3.8% against the previous year. In general, the export price, however, enjoyed significant growth. The growth pace was the most rapid in 2016 when the average export price increased by 496%. The export price peaked at $X per unit in 2020, and then dropped modestly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+53.9%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Azerbaijan

Loudspeaker imports into Azerbaijan contracted remarkably to X units in 2021, which is down by -32.5% on 2020 figures. Overall, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 1,138% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, loudspeaker imports reduced to $X in 2021. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 124% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then fell in the following year.

Imports by Country

In 2021, China (X units) was the main loudspeaker supplier to Azerbaijan, accounting for a 91% share of total imports. It was followed by Vietnam (X units), with a 2.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +75.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+236.9% per year) and the United Arab Emirates (+6.7% per year).

In value terms, China ($X) constituted the largest supplier of single loudspeakers (in enclosure) to Azerbaijan, comprising 59% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +74.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+15.6% per year) and Vietnam (+308.2% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2021, growing by 29% against the previous year. Overall, the import price, however, continues to indicate a abrupt downturn. The growth pace was the most rapid in 2013 an increase of 125%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+21.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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