GCC: Headphone Market 2024

Headphone Market Size in GCC

The GCC headphone market expanded notably to $X in 2022, surging by 8.1% against the previous year. Overall, consumption showed a remarkable increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Headphone Production in GCC

In value terms, headphone production skyrocketed to $X in 2022 estimated in export price. Overall, production posted prominent growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by 92%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Headphone Exports

Exports in GCC

In 2022, the amount of headphones exported in GCC shrank significantly to X units, which is down by -16.4% compared with the previous year. In general, exports, however, recorded moderate growth. The pace of growth appeared the most rapid in 2018 when exports increased by 349% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, headphone exports reduced to $X in 2022. Overall, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2018 when exports increased by 273% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank in the following year.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X units, which was approx. 94% of total exports in 2022. It was distantly followed by Oman (X units), achieving a 5.1% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to headphone exports from the United Arab Emirates stood at +4.1%. At the same time, Oman (+41.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +41.8% from 2012-2022. From 2012 to 2022, the share of Oman increased by +4.9 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest headphone supplier in GCC, comprising 94% of total exports. The second position in the ranking was held by Oman ($X), with a 4.8% share of total exports.

In the United Arab Emirates, headphone exports increased at an average annual rate of +31.6% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, picking up by 7.3% against the previous year. In general, the export price saw a significant increase. The most prominent rate of growth was recorded in 2020 an increase of 60%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+26.5%).

Headphone Imports

Imports in GCC

In 2022, supplies from abroad of headphones decreased by -4.6% to X units for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 92% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then dropped modestly in the following year.

In value terms, headphone imports dropped modestly to $X in 2022. Over the period under review, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 when imports increased by 63%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) was the key importer of headphones, generating 71% of total imports. It was distantly followed by Kuwait (X units) and Bahrain (X units), together creating a 24% share of total imports. Qatar (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to headphone imports into the United Arab Emirates stood at +10.0%. At the same time, Kuwait (+30.0%), Qatar (+29.0%) and Bahrain (+7.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +30.0% from 2012-2022. While the share of Kuwait (+15 p.p.) and Qatar (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bahrain (-2.7 p.p.) and the United Arab Emirates (-15.7 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported headphones in GCC, comprising 63% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 9.3% share of total imports. It was followed by Qatar, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +12.5%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+24.1% per year) and Qatar (+10.3% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, remaining constant against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, headphone import price increased by +4.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 67%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices failed to regain momentum.

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 the United Arab Emirates ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+9.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform