Romania: Loudspeaker Market 2024

Loudspeaker Market Size in Romania

In 2022, the Romanian loudspeaker market decreased by -5.7% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the market value increased by 9.5%. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Loudspeaker Exports

Exports from Romania

Loudspeaker exports from Romania fell modestly to X units in 2022, remaining relatively unchanged against the previous year. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2014 with an increase of 526% against the previous year. The exports peaked at X units in 2021, and then reduced modestly in the following year.

In value terms, loudspeaker exports rose modestly to $X in 2022. In general, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 68% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X units), France (X units) and South Korea (X units) were the main destinations of loudspeaker exports from Romania, together accounting for 40% of total exports. The Netherlands, the UK, Russia, Bulgaria, Belgium, Austria, Poland, Hong Kong SAR, Sweden and Hungary lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +146.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for loudspeaker exported from Romania were Bulgaria ($X), Germany ($X) and France ($X), with a combined 40% share of total exports. Hungary, the UK, the Netherlands, Hong Kong SAR, Poland, Belgium, Austria, Sweden, South Korea and Russia lagged somewhat behind, together comprising a further 32%.

Among the main countries of destination, the UK, with a CAGR of +160.0%, recorded the highest rates of growth with regard to the value of exports, 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, picking up by 3.1% against the previous year. Overall, the export price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2013 an increase of 41% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per unit), while the average price for exports to South Korea ($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 Hong Kong SAR (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Romania

In 2022, purchases abroad of loudspeakers decreased by -12.8% to X units, falling for the third consecutive year after two years of growth. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 26%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, loudspeaker imports expanded to $X in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.9% against 2015 indices. The pace of growth appeared the most rapid in 2017 with an increase of 15% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X units), China (X units) and Vietnam (X units) were the main suppliers of loudspeaker imports to Romania, with a combined 68% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +260.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and China ($X) were the largest loudspeaker suppliers to Romania, with a combined 42% share of total imports. Hungary, Belgium, Slovenia, Spain and Vietnam lagged somewhat behind, together comprising a further 24%.

Vietnam, with a CAGR of +133.8%, saw 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, jumping by 19% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, loudspeaker import price increased by +60.2% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 25% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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