Amplifying The Loudspeaker Industry
Loudspeakers are often seen as an annoyance. Ironically, noise pollution has been called a silent epidemic. Yet speakers give us an almost magical ability to amplify our voices. In fact, they allow great feats of mass organization every day worldwide.
The speakers import-export data shows that the industry is valued at around $11 billion. It might be smaller than some of the other electronic industries, but there is great potential for growth. Let’s take a closer look.
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All speakers have a voice coil that converts electricity into sound and directs it to a diaphragm. A diaphragm is a typical circular component that’s often visible, made of rubber, metal, or plastic. It vibrates and sends the audio into the air.
A single speaker cannot recreate natural audio perfectly, multiple ones are used to capture different frequencies. For example woofers for bass, tweeters for tremble, and sub-woofers for other extremities.
Commercially speaking, the product is categorized based on size, quality, and purpose. So we have portable Bluetooth speakers that are often bought on a whim at the bottom. At the top, we have heavy-duty, extremely expensive ones with intricate setups that are used in concerts. These are commonly rented and used for decades.
Most of the biggest loudspeaker producers are from the US and Japan. There are countless smaller players, but Bose, JBL, Pioneer, and Sony are from these countries. Yet they still lack affordable skilled labor and a developed supply chain within borders. China is renowned for these qualities and also has the biggest consumer market for the product.
Meanwhile, Mexico and Vietnam are preferred for American and Japanese producers respectively for geographical reasons as well. The speakers export data tells us that Hungary has its own production for automotive sound systems. The European country also hosts a portion of Samsung’s production.
Top Exporting Countries (2021)
- China ($2.91 billion),
- Vietnam ($990 million)
- Mexico ($382 million)
- United States ($256 million)
- Hungary ($165 million)
The individualistic culture in developed countries like the US and Japan is very focused on entertainment. Hence home theater systems, speakers, and concerts are understandably popular. We see in the speakers import data that Germany imports a lot of sound systems for its premium automotive industry.
Top importing countries (2021)
- United States ($1.07 billion)
- Hong Kong ($502 million)
- Japan ($417 million)
- China ($398 million)
- Germany ($324 million)
What to Expect
As countries all around the world develop and globalization spreads popular culture across borders, it’s hard to imagine loudspeaker demand reducing. Experts suggest that the industry will more than double in value to $23 billion as early as 2030. The development of new technology is one of the biggest factors that affect this industry.
Soundbars are currently popular for affordable home audio solutions and more powerful compact batteries are under development. There is a massive demand for high-quality portable audio, but an increasing number of people are actually turning to headphones for personal entertainment.
Be sure to study your target market closely before jumping into the trade of this seemingly evergreen commodity.