Scandinavia: Loudspeaker Market 2024

Loudspeaker Market Size in Scandinavia

The Scandinavia loudspeaker market declined slightly to $X in 2022, which is down by -4.4% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Loudspeaker Production in Scandinavia

In value terms, loudspeaker production rose rapidly to $X in 2022 estimated in export price. In general, production showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 57% against the previous year. The level of production peaked in 2022 and is likely to see gradual growth in the near future.

Loudspeaker Exports

Exports in Scandinavia

In 2022, exports of loudspeakers in Scandinavia shrank slightly to X units, reducing by -3.9% compared with the previous year's figure. In general, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 40% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, loudspeaker exports stood at $X in 2022. Over the period under review, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

In 2022, Sweden (X units) was the key exporter of loudspeakers, creating 82% of total exports. Norway (X units) took the second position in the ranking, followed by Finland (X units). All these countries together took approx. 18% share of total exports.

Sweden was also the fastest-growing in terms of the loudspeakers exports, with a CAGR of +14.7% from 2012 to 2022. At the same time, Finland (+7.4%) displayed positive paces of growth. By contrast, Norway (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +26 percentage points.

In value terms, Sweden ($X) remains the largest loudspeaker supplier in Scandinavia, comprising 63% of total exports. The second position in the ranking was held by Finland ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden totaled +12.8%. In the other countries, the average annual rates were as follows: Finland (+10.6% per year) and Norway (-2.7% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, increasing by 4.9% against the previous year. Overall, the export price, however, continues to indicate a mild setback. The pace of growth appeared the most rapid in 2020 when the export price increased by 36%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Finland ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+3.0%), while the other leaders experienced a decline in the export price figures.

Loudspeaker Imports

Imports in Scandinavia

In 2022, the amount of loudspeakers imported in Scandinavia dropped remarkably to X units, with a decrease of -18.1% on the previous year. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% 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 +5.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. As a result, imports attained the peak of X units, and then dropped dramatically in the following year.

In value terms, loudspeaker imports shrank to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +2.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 20%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Sweden represented the largest importing country with an import of around X units, which finished at 78% of total imports. It was distantly followed by Finland (X units) and Norway (X units), together mixing up a 22% share of total imports.

Sweden was also the fastest-growing in terms of the loudspeakers imports, with a CAGR of +6.6% from 2012 to 2022. At the same time, Finland (+2.1%) displayed positive paces of growth. Norway experienced a relatively flat trend pattern. While the share of Sweden (+10 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Finland (-4.1 p.p.) and Norway (-6.3 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported loudspeakers in Scandinavia, comprising 59% of total imports. The second position in the ranking was taken by Norway ($X), with a 27% share of total imports.

In Sweden, loudspeaker imports expanded at an average annual rate of +7.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Norway (+3.8% per year) and Finland (+7.1% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2022, picking up by 16% against the previous year. In general, the import price showed a modest increase. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform