Singapore: Loudspeaker Market 2024

Loudspeaker Market Size in Singapore

For the third consecutive year, the Singaporean loudspeaker market recorded growth in sales value, which increased by 6.4% to $X in 2022. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +0.8% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Loudspeaker Production in Singapore

In value terms, loudspeaker production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production showed a strong increase. The growth pace was the most rapid in 2013 with an increase of 213%. Loudspeaker production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Loudspeaker Exports

Exports from Singapore

In 2022, shipments abroad of loudspeakers increased by 8.8% to X units, rising for the second consecutive year after four years of decline. Overall, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 18% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, loudspeaker exports expanded markedly to $X in 2022. In general, exports, however, showed a noticeable contraction. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X units), Malaysia (X units) and China (X units) were the main destinations of loudspeaker exports from Singapore, together accounting for 73% of total exports. The United Arab Emirates, Thailand, the United States, the UK, Australia, India, the Netherlands, the Philippines and Japan lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +77.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for loudspeaker exported from Singapore were Australia ($X), Indonesia ($X) and the United Arab Emirates ($X), together accounting for 37% of total exports.

The United Arab Emirates, with a CAGR of +75.6%, 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

The average loudspeaker export price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Malaysia ($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 Thailand (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Singapore

In 2022, supplies from abroad of loudspeakers increased by 58% to X units, rising for the third year in a row after three years of decline. Overall, imports, however, continue to indicate a pronounced decline. Imports peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, loudspeaker imports soared to $X in 2022. In general, imports, however, showed a mild decline. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam (X units), China (X units) and Thailand (X units) were the main suppliers of loudspeaker imports to Singapore, together accounting for 88% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +93.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of loudspeakers to Singapore, comprising 45% of total imports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total imports. It was followed by Malaysia, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+75.8% per year) and Malaysia (+8.1% per year).

Import Prices by Country

In 2022, the average loudspeaker import price amounted to $X per unit, falling by -20.4% against the previous year. Overall, the import price, however, recorded slight growth. The pace of growth appeared the most rapid in 2019 an increase of 127% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then shrank notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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