Kenya: Loudspeaker Market 2024

Loudspeaker Market Size in Kenya

The Kenyan loudspeaker market surged to $X in 2022, increasing by 92% 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 recorded a prominent increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Loudspeaker Exports

Exports from Kenya

In 2022, approx. X units of loudspeakers were exported from Kenya; rising by 51% on 2021. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 326% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, loudspeaker exports surged to $X in 2022. Over the period under review, exports, however, saw a slight decline. The most prominent rate of growth was recorded in 2015 with an increase of 403%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Ethiopia (X units), Rwanda (X units) and Egypt (X units) were the main destinations of loudspeaker exports from Kenya, together accounting for 65% of total exports. Uganda, Democratic Republic of the Congo, South Sudan, Cote d'Ivoire, Burundi, Cameroon, South Africa, Israel and Tanzania lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +62.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for loudspeaker exported from Kenya were Egypt ($X), Rwanda ($X) and Ethiopia ($X), with a combined 56% share of total exports. South Sudan, Cote d'Ivoire, Democratic Republic of the Congo, Israel, South Africa, Burundi, Uganda, Cameroon and Tanzania lagged somewhat behind, together comprising a further 25%.

Cote d'Ivoire, with a CAGR of +98.6%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the average loudspeaker export price amounted to $X per unit, dropping by -8.9% against the previous year. Over the period under review, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of 37% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Sudan ($X per unit), while the average price for exports to Uganda ($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 Cote d'Ivoire (+22.0%), while the prices for the other major destinations experienced mixed trend patterns.

Loudspeaker Imports

Imports into Kenya

In 2022, the amount of loudspeakers imported into Kenya skyrocketed to X units, jumping by 90% on 2021 figures. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 129%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, loudspeaker imports surged to $X in 2022. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 147% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of loudspeaker to Kenya, with a 93% share of total imports. It was followed by Vietnam (X units), with a 1.9% share of total imports. The third position in this ranking was held by the United Arab Emirates (X units), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+15.9% per year) and the United Arab Emirates (-18.0% per year).

In value terms, China ($X) constituted the largest supplier of loudspeakers to Kenya, comprising 86% of total imports. The second position in the ranking was held by Vietnam ($X), with a 2.5% share of total imports. It was followed by the United Arab Emirates, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+28.5% per year) and the United Arab Emirates (-17.6% per year).

Import Prices by Country

In 2022, the average loudspeaker import price amounted to $X per unit, with an increase of 1.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 44% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for India ($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 (+10.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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