Lithuania: Loudspeaker Market 2024

Loudspeaker Market Size in Lithuania

After two years of growth, the Lithuanian loudspeaker market decreased by -4.8% to $X in 2022. Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Loudspeaker Production in Lithuania

In value terms, loudspeaker production amounted to $X in 2022 estimated in export price. Overall, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -15.0% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 90%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Loudspeaker Exports

Exports from Lithuania

In 2022, shipments abroad of loudspeakers increased by 34% to X units, rising for the second year in a row after two years of decline. In general, exports, however, recorded a slight curtailment. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, loudspeaker exports contracted slightly to $X in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 46%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Belarus (X units), Latvia (X units) and Russia (X units) were the main destinations of loudspeaker exports from Lithuania, with a combined 46% share of total exports. The Netherlands, Estonia, Switzerland, Kazakhstan, Poland, Kyrgyzstan, the United States, Finland, Germany and Cambodia lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +468.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for loudspeaker exported from Lithuania were Russia ($X), Kazakhstan ($X) and Latvia ($X), together accounting for 44% of total exports. The Netherlands, Estonia, Poland, Kyrgyzstan, Belarus, Germany, Switzerland, the United States, Finland and Cambodia lagged somewhat behind, together accounting for a further 35%.

Kyrgyzstan, with a CAGR of +188.3%, 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

The average loudspeaker export price stood at $X per unit in 2022, dropping by -27.3% against the previous year. Overall, the export price, however, recorded a buoyant increase. The growth pace was the most rapid in 2018 when the average export price increased by 30%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then dropped remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Belarus ($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 Kyrgyzstan (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Lithuania

In 2022, the amount of loudspeakers imported into Lithuania dropped to X units, with a decrease of -5.2% compared with the previous year. Over the period under review, imports recorded a pronounced downturn. The pace of growth was the most pronounced in 2017 with an increase of 24%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, loudspeaker imports amounted to $X in 2022. Overall, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 33%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of loudspeaker to Lithuania, with a 45% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), threefold. Latvia (X units) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+7.0% per year) and Latvia (+5.9% per year).

In value terms, the largest loudspeaker suppliers to Lithuania were Latvia ($X), Poland ($X) and China ($X), with a combined 43% share of total imports. Germany, Estonia, Finland, the Netherlands and Cyprus lagged somewhat behind, together accounting for a further 31%.

Finland, with a CAGR of +35.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average loudspeaker import price amounted to $X per unit, surging by 13% against the previous year. In general, the import price showed a remarkable increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 61%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform