MENA: Loudspeaker Market 2024

Loudspeaker Market Size in MENA

In 2022, the MENA's loudspeaker market increased by 0.4% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Loudspeaker Production in MENA

In value terms, loudspeaker production stood at $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 59%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Loudspeaker Exports

Exports in MENA

In 2022, shipments abroad of loudspeakers increased by 14% to X units, rising for the third year in a row after four years of decline. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 45% against the previous year. The volume of export peaked at X units in 2013; afterwards, it flattened through to 2022.

In value terms, loudspeaker exports reached $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 11%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X units) represented the largest exporter of loudspeakers, constituting 79% of total exports. Turkey (X units) took the second position in the ranking, distantly followed by Israel (X units). All these countries together held near 17% share of total exports. Jordan (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the loudspeakers exports, with a CAGR of +4.4% from 2012 to 2022. Turkey experienced a relatively flat trend pattern. Jordan (-4.6%) and Israel (-8.1%) illustrated a downward trend over the same period. The United Arab Emirates (+28 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -6.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest loudspeaker supplier in MENA, comprising 57% of total exports. The second position in the ranking was held by Turkey ($X), with a 25% share of total exports. It was followed by Israel, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +1.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+14.2% per year) and Israel (-8.9% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, dropping by -12.4% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 34% against the previous year. The level of export 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 origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while Jordan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+13.9%), while the other leaders experienced a decline in the export price figures.

Loudspeaker Imports

Imports in MENA

In 2022, the amount of loudspeakers imported in MENA amounted to X units, approximately reflecting 2021 figures. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 13% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, loudspeaker imports contracted to $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 26%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Turkey represented the major importer of loudspeakers in MENA, with the volume of imports resulting at X units, which was approx. 44% of total imports in 2022. Egypt (X units) took the second position in the ranking, distantly followed by the United Arab Emirates (X units) and Israel (X units). All these countries together held near 42% share of total imports. Iran (X units), Iraq (X units) and Morocco (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to loudspeaker imports into Turkey stood at -1.6%. At the same time, Egypt (+38.4%), Israel (+16.1%), Iraq (+15.9%) and Morocco (+14.4%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of +38.4% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Iran (-3.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Egypt and Israel increased by +20 and +5.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2022, with a combined 68% share of total imports.

Israel, with a CAGR of +13.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, falling by -9.3% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 19% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform