U.S.: Market for Audio And Video Equipment 2024

Market Size for Audio And Video Equipment in the U.S.

After five years of growth, the U.S. audio and video equipment market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Audio and video equipment consumption peaked at $X in 2022, and then shrank in the following year.

Production of Audio And Video Equipment in the U.S.

In value terms, audio and video equipment production reached $X in 2023. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Audio and video equipment production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

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Exports of Audio And Video Equipment

Exports from the U.S.

In 2023, shipments abroad of audio and video equipment decreased by X% to X units for the first time since 2018, thus ending a four-year rising trend. Over the period under review, exports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2022, and then shrank slightly in the following year.

In value terms, audio and video equipment exports amounted to $X in 2023. Overall, exports saw a mild descent. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

Mexico (X units) was the main destination for audio and video equipment exports from the United States, with a X% share of total exports. Moreover, audio and video equipment exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), fourfold. The third position in this ranking was taken by Germany (X units), with a X% share.

From 2013 to 2023, the average annual growth rate of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Germany (X% per year).

In value terms, the largest markets for audio and video equipment exported from the United States were Canada ($X), Mexico ($X) and Japan ($X), with a combined X% share of total exports. Germany, China, South Korea and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2023, the average audio and video equipment export price amounted to $X per unit, picking up by X% against the previous year. In general, the export price, however, showed a abrupt decline. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced a decline.

Imports of Audio And Video Equipment

Imports into the U.S.

In 2023, approx. X units of audio and video equipment were imported into the United States; approximately mirroring the previous year's figure. Overall, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, audio and video equipment imports reduced to $X in 2023. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, China (X units) constituted the largest audio and video equipment supplier to the United States, accounting for a X% share of total imports. Moreover, audio and video equipment imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fourfold. The third position in this ranking was taken by Mexico (X units), with an X% share.

From 2013 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Mexico (X% per year).

In value terms, Mexico ($X), China ($X) and Vietnam ($X) were the largest audio and video equipment suppliers to the United States, with a combined X% share of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average audio and video equipment import price amounted to $X per unit, reducing by X% against the previous year. Overall, the import price recorded a abrupt decline. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform