Middle East: Loudspeaker Market 2024

Loudspeaker Market Size in the Middle East

The Middle Eastern loudspeaker market declined to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Loudspeaker Production in the Middle East

In value terms, loudspeaker production totaled $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +2.3% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 62% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Loudspeaker Exports

Exports in the Middle East

In 2022, overseas shipments of loudspeakers increased by 30% to X units, rising for the third year in a row after four years of decline. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.3% 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 +104.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 57%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, loudspeaker exports rose slightly to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 14% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the major exporting country with an export of about X units, which resulted at 80% of total exports. Turkey (X units) took the second position in the ranking, distantly followed by Israel (X units). All these countries together took approx. 18% 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. From 2012 to 2022, the share of the United Arab Emirates increased by +15 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest loudspeaker supplier in the Middle East, comprising 58% of total exports. The second position in the ranking was taken by Turkey ($X), with a 25% share of total exports. It was followed by Israel, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +1.9%. In the other countries, the average annual rates were as follows: Turkey (+14.2% per year) and Israel (-8.9% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, waning by -21.8% against the previous year. Over the period under review, the export price showed a slight descent. The pace of growth was the most pronounced in 2014 when the export price increased by 47%. Over the period under review, the export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 the Middle East

In 2022, the amount of loudspeakers imported in the Middle East reduced to X units, dropping by -7.4% compared with the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 13%. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, loudspeaker imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.8% 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 2021 when imports increased by 27%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Turkey (X units) was the main importer of loudspeakers, making up 60% of total imports. The United Arab Emirates (X units) held the second position in the ranking, followed by Israel (X units) and Iran (X units). All these countries together took near 34% share of total imports. Iraq (X units) took a minor share of total imports.

Imports into Turkey decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Israel (+16.1%) and Iraq (+15.9%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +16.1% 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. Israel (+8.6 p.p.) and Iraq (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Iran and Turkey saw its share reduced by -2.2% and -9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest loudspeaker importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together comprising 76% of total imports.

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

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, which is down by -2.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2013 an increase of 20%. Over the period under review, import prices hit record highs 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 ($X per unit), while Turkey ($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

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