Brazil: Loudspeaker Market 2024

Loudspeaker Market Size in Brazil

The Brazilian loudspeaker market skyrocketed to $X in 2022, jumping by 15% against the previous year. In general, consumption, however, showed a mild increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Loudspeaker Production in Brazil

In value terms, loudspeaker production dropped slightly to $X in 2022 estimated in export price. In general, production, however, recorded a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 4.4% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Loudspeaker Exports

Exports from Brazil

In 2022, overseas shipments of loudspeakers increased by 8.6% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 with an increase of 84%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, loudspeaker exports reduced slightly to $X in 2022. In general, exports recorded measured growth. The pace of growth was the most pronounced in 2021 when exports increased by 162%. As a result, the exports reached the peak of $X, and then contracted slightly in the following year.

Exports by Country

Argentina (X units) was the main destination for loudspeaker exports from Brazil, accounting for a 56% share of total exports. Moreover, loudspeaker exports to Argentina exceeded the volume sent to the second major destination, the United States (X units), fourfold. Hong Kong SAR (X units) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina amounted to -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.0% per year) and Hong Kong SAR (+22.8% per year).

In value terms, the United States ($X), Argentina ($X) and Paraguay ($X) constituted the largest markets for loudspeaker exported from Brazil worldwide, together accounting for 86% of total exports. Uruguay, Slovakia, Colombia, Hong Kong SAR, China, Mexico and Vietnam lagged somewhat behind, together accounting for a further 6.2%.

Slovakia, with a CAGR of +67.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average loudspeaker export price stood at $X per unit in 2022, shrinking by -9.4% against the previous year. Over the period under review, the export price, however, saw a prominent increase. The pace of growth was the most pronounced in 2016 an increase of 116%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Vietnam ($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 the United States (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Brazil

In 2022, approx. X units of loudspeakers were imported into Brazil; which is down by -7.7% on the previous year's figure. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, loudspeaker imports skyrocketed to $X in 2022. In general, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +66.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest loudspeaker supplier to Brazil, accounting for a 78% 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 held by South Korea (X units), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+16.2% per year) and South Korea (-17.7% per year).

In value terms, China ($X) constituted the largest supplier of loudspeakers to Brazil, comprising 73% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.2% share of total imports. It was followed by South Korea, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+18.0% per year) and South Korea (-8.9% per year).

Import Prices by Country

In 2022, the average loudspeaker import price amounted to $X per unit, jumping by 27% against the previous year. Over the period under review, the import price recorded strong growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+37.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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