Nigeria: Non-Enclosed Loudspeakers Market 2025

Non-Enclosed Loudspeakers Market Size in Nigeria

The Nigerien non-enclosed loudspeakers market surged to $X in 2021, rising by 29% 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, however, saw a deep contraction. Non-enclosed loudspeakers consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Non-Enclosed Loudspeakers Exports

Exports from Nigeria

In 2021, shipments abroad of loudspeakers (not in enclosure) increased by 14% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2015 with an increase of 463%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-enclosed loudspeakers exports rose markedly to $X in 2021. Over the period under review, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 310% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Cameroon (X units) was the main destination for non-enclosed loudspeakers exports from Nigeria, with a 93% share of total exports. Moreover, non-enclosed loudspeakers exports to Cameroon exceeded the volume sent to the second major destination, Burkina Faso (X units), more than tenfold. The third position in this ranking was taken by Ghana (X units), with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cameroon stood at +65.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+13.6% per year) and Ghana (-37.8% per year).

In value terms, Cameroon ($X) remains the key foreign market for loudspeakers (not in enclosure) exports from Nigeria, comprising 78% of total exports. The second position in the ranking was held by Ghana ($X), with a 3.5% share of total exports. It was followed by Burkina Faso, with a 0.7% share.

From 2012 to 2021, the average annual growth rate of value to Cameroon stood at +45.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (-21.8% per year) and Burkina Faso (-7.0% per year).

Export Prices by Country

In 2021, the average non-enclosed loudspeakers export price amounted to $X per unit, with a decrease of -6% against the previous year. In general, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of 146% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Ghana ($X per unit), while the average price for exports to Burkina Faso ($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 the United Arab Emirates (+63.8%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Enclosed Loudspeakers Imports

Imports into Nigeria

In 2021, approx. X units of loudspeakers (not in enclosure) were imported into Nigeria; picking up by 29% on the year before. Overall, imports, however, faced a abrupt decline. The growth pace was the most rapid in 2019 when imports increased by 116% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, non-enclosed loudspeakers imports surged to $X in 2021. In general, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2019 when imports increased by 140%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main non-enclosed loudspeakers supplier to Nigeria, accounting for a 90% share of total imports. Moreover, non-enclosed loudspeakers imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -14.4%.

In value terms, China ($X) constituted the largest supplier of loudspeakers (not in enclosure) to Nigeria, comprising 82% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 3.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -12.8%.

Import Prices by Country

The average non-enclosed loudspeakers import price stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Overall, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-enclosed loudspeakers import price decreased by -5.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 69%. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for Hong Kong SAR totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.7%).

Source: IndexBox Platform

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