Singapore: Non-Enclosed Loudspeakers Market 2024

Non-Enclosed Loudspeakers Market Size in Singapore

The Singaporean non-enclosed loudspeakers market surged to $X in 2021, picking up by 696% 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). Overall, consumption showed a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Non-Enclosed Loudspeakers Exports

Exports from Singapore

In 2021, approx. X units of loudspeakers (not in enclosure) were exported from Singapore; reducing by -67.8% compared with the previous year. Overall, exports saw a dramatic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 24% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-enclosed loudspeakers exports contracted notably to $X in 2021. In general, exports saw a precipitous shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 31%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for non-enclosed loudspeakers exports from Singapore, with a 87% share of total exports. Moreover, non-enclosed loudspeakers exports to Indonesia exceeded the volume sent to the second major destination, the United States (X units), more than tenfold. The third position in this ranking was taken by Malaysia (X units), with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-32.7% per year) and Malaysia (-50.9% per year).

In value terms, the United States ($X) remains the key foreign market for loudspeakers (not in enclosure) exports from Singapore, comprising 47% of total exports. The second position in the ranking was held by Indonesia ($X), with a 14% share of total exports. It was followed by Hong Kong SAR, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-18.9% per year) and Hong Kong SAR (-21.6% per year).

Export Prices by Country

In 2021, the average non-enclosed loudspeakers export price amounted to $X per unit, falling by -16.2% against the previous year. Overall, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.6% 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 export price increased by +43.3% against 2016 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 41%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020, and then declined significantly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Indonesia ($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 Hong Kong SAR (+41.8%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Enclosed Loudspeakers Imports

Imports into Singapore

In 2021, supplies from abroad of loudspeakers (not in enclosure) was finally on the rise to reach X units after two years of decline. In general, imports, however, showed a abrupt slump. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, non-enclosed loudspeakers imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a noticeable decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Indonesia (X units) and Malaysia (X units) were the main suppliers of non-enclosed loudspeakers imports to Singapore, together accounting for 90% of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of -8.0%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), Indonesia ($X) and Vietnam ($X) appeared to be the largest non-enclosed loudspeakers suppliers to Singapore, with a combined 90% share of total imports.

In terms of the main suppliers, China, with a CAGR of +3.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average non-enclosed loudspeakers import price amounted to $X per unit, growing by 28% against the previous year. Overall, the import price recorded strong growth. The most prominent rate of growth was recorded in 2019 an increase of 48% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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