Vietnam: Non-Enclosed Loudspeakers Market 2024

Non-Enclosed Loudspeakers Market Size in Vietnam

In 2021, the Vietnamese non-enclosed loudspeakers market increased by 329% to $X, rising for the fourth year in a row after two years of decline. Overall, consumption, however, recorded a pronounced setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Non-Enclosed Loudspeakers Production in Vietnam

In value terms, non-enclosed loudspeakers production rose slightly to $X in 2021 estimated in export price. Over the period under review, production saw strong growth. The pace of growth was the most pronounced in 2014 when the production volume increased by 99%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Non-Enclosed Loudspeakers Exports

Exports from Vietnam

In 2021, overseas shipments of loudspeakers (not in enclosure) decreased by -4.6% to X units, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 111% against the previous year. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, non-enclosed loudspeakers exports soared to $X in 2021. In general, exports, however, posted strong growth. The growth pace was the most rapid in 2013 when exports increased by 39%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

China (X units), the United States (X units) and India (X units) were the main destinations of non-enclosed loudspeakers exports from Vietnam, together accounting for 53% of total exports. Japan, South Korea, Hong Kong SAR, Mexico, Slovakia, the UK, Russia, the United Arab Emirates and Malaysia lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +102.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-enclosed loudspeakers exported from Vietnam were China ($X), the United States ($X) and India ($X), with a combined 49% share of total exports. Japan, South Korea, Hong Kong SAR, Mexico, Slovakia, the UK, Russia, the United Arab Emirates and Malaysia lagged somewhat behind, together comprising a further 24%.

The UK, with a CAGR of +49.8%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 non-enclosed loudspeakers export price stood at $X per unit in 2021, picking up by 40% against the previous year. Over the period under review, the export price, however, recorded a mild decline. The growth pace was the most rapid in 2016 an increase of 58% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to Russia ($X per unit) and India ($X per unit), while the average price for exports to Slovakia ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Enclosed Loudspeakers Imports

Imports into Vietnam

In 2021, supplies from abroad of loudspeakers (not in enclosure) increased by 21% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +37.0% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 51% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, non-enclosed loudspeakers imports stood at $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +64.6% against 2016 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 32%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main non-enclosed loudspeakers supplier to Vietnam, accounting for a 91% share of total imports. It was followed by South Korea (X units), with a 2.2% share of total imports. The third position in this ranking was held by Indonesia (X units), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-13.8% per year) and Indonesia (+15.4% per year).

In value terms, China ($X) constituted the largest supplier of loudspeakers (not in enclosure) to Vietnam, comprising 91% of total imports. The second position in the ranking was held by South Korea ($X), with a 2.2% share of total imports. It was followed by Indonesia, with a 2.1% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-13.5% per year) and Indonesia (+18.8% per year).

Import Prices by Country

In 2021, the average non-enclosed loudspeakers import price amounted to $X per unit, with a decrease of -8.4% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 16% against the previous year. As a result, import price attained the peak level of $X per unit, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Indonesia ($X per unit) and Thailand ($X per unit), while the price for China ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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