India: Loudspeaker Market 2024

Loudspeaker Market Size in India

The Indian loudspeaker market expanded sharply to $X in 2021, with an increase of 8.5% 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 showed prominent growth. Loudspeaker consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Loudspeaker Exports

Exports from India

In 2021, overseas shipments of single loudspeakers (in enclosure) increased by 2.5% to X units for the first time since 2017, thus ending a three-year declining trend. In general, exports showed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 1,611%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, loudspeaker exports declined dramatically to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 5,470% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X units), the United Arab Emirates (X units) and Saudi Arabia (X units) were the main destinations of loudspeaker exports from India, together comprising 36% of total exports. The Czech Republic, Bangladesh, Germany, Nigeria, the Netherlands, Yemen, Iraq, Singapore, Nepal and Algeria lagged somewhat behind, together comprising a further 43%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +179.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for loudspeaker exported from India were Australia ($X), the United Arab Emirates ($X) and Germany ($X), with a combined 39% share of total exports. These countries were followed by Singapore, the Czech Republic, Saudi Arabia, Nigeria, Bangladesh, Iraq, Yemen, the Netherlands, Algeria and Nepal, which together accounted for a further 32%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +148.3%, saw the highest growth rate of the value of exports, 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 2021, falling by -18.2% against the previous year. Overall, the export price, however, continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 225%. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into India

Loudspeaker imports into India skyrocketed to X units in 2021, picking up by 16% against 2020 figures. Overall, imports showed a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 122% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, loudspeaker imports rose rapidly to $X in 2021. In general, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when imports increased by 139% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of loudspeaker to India, with a 67% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sixfold. Hong Kong SAR (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+94.6% per year) and Hong Kong SAR (+54.0% per year).

In value terms, China ($X) constituted the largest supplier of single loudspeakers (in enclosure) to India, comprising 46% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by Vietnam, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+60.2% per year) and Vietnam (+89.5% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2021, falling by -8.7% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, loudspeaker import price increased by +72.5% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 56% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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