Russian Federation: Loudspeaker Market 2024

Loudspeaker Market Size in the Russian Federation

The Russian loudspeaker market dropped to $X in 2022, reducing by -5.9% against the previous year. In general, consumption continues to indicate a slight shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Loudspeaker Production in the Russian Federation

In value terms, loudspeaker production declined to $X in 2022 estimated in export price. Overall, production faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 51%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Loudspeaker Exports

Exports from the Russian Federation

In 2022, approx. X units of loudspeakers were exported from Russia; almost unchanged from 2021. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 117%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, loudspeaker exports reduced to $X in 2022. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 99.9% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Belarus (X units) was the main destination for loudspeaker exports from Russia, accounting for a 48% share of total exports. Moreover, loudspeaker exports to Belarus exceeded the volume sent to the second major destination, Ukraine (X units), fourfold. The third position in this ranking was taken by Kazakhstan (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belarus totaled +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+30.6% per year) and Kazakhstan (+15.0% per year).

In value terms, the largest markets for loudspeaker exported from Russia were Belarus ($X), Kazakhstan ($X) and Ukraine ($X), together comprising 76% of total exports. Sweden, Poland, the Czech Republic and Egypt lagged somewhat behind, together accounting for a further 12%.

The Czech Republic, with a CAGR of +129.5%, recorded 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

In 2022, the average loudspeaker export price amounted to $X per unit, reducing by -15.3% against the previous year. In general, the export price, however, continues to indicate a tangible increase. The growth pace was the most rapid in 2016 when the average export price increased by 103%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to the Czech Republic ($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 South Korea (+68.3%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into the Russian Federation

In 2022, imports of loudspeakers into Russia reduced slightly to X units, shrinking by -2.9% on the year before. Overall, imports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2017 with an increase of 28%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, loudspeaker imports dropped to $X in 2022. Over the period under review, imports showed a slight decline. The pace of growth appeared the most rapid in 2017 with an increase of 38%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of loudspeaker to Russia, with a 72% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fivefold. The third position in this ranking was taken by Indonesia (X units), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+15.1% per year) and Indonesia (+13.2% per year).

In value terms, China ($X), Vietnam ($X) and South Korea ($X) constituted the largest loudspeaker suppliers to Russia, with a combined 88% share of total imports. Indonesia, Romania and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 3.4%.

Romania, with a CAGR of +27.2%, 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 mixed trend patterns.

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2022, shrinking by -3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2019 an increase of 14% against the previous year. The import price peaked at $X per unit in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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