Report : South America Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Car Audio, Home Audio, Cinema Sound, Sound Reinforcement, and Others) and End-user (Residential and Commercial)
Commercial Segment to Dominate SAM Sub-Woofer Market during 2021–2028
According to a new market research study on “SAM Sub-Woofer Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and End-User” is expected to reach US$ 75.09 million by 2028 from US$ 47.75 million in 2021. The market is estimated to grow at a CAGR of 6.7% from 2021 to 2028. The report provides trends prevailing in the SAM sub-woofer market along with the drivers and restraints pertaining to the market growth. Surge in demand in automotive industry is the major factor driving the growth of the SAM sub-woofer market. However, issues associated with the availability of low-quality subwoofers hinder the growth of SAM sub-woofer market.
The SAM sub-woofer market is segmented into type, application and country. In terms of application, the sub-woofer market is categorized into car audio, home audio, cinema sound, sound reinforcement, and others. The others segment dominated the market in 2020 and cinema sound segment is expected to be the fastest growing during the forecast period. Based on end-user, the sub-woofer market is categorized into residential and commercial. The commercial segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on country, SAM sub-woofer market is classified into Brazil, Argentina, and Rest of SAM.
Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of South America will reduce economic activity in the manufacturing and service sectors for at least the next quarter and is expected to rebound once the pandemic is contained. Several countries in SAM have been severely affected by the COVID-19 outbreak. Brazil has had the worst hit in the region, with the number of positive cases continuing to surge on a daily basis. The outbreak of COVID-19 has weakened the manufacturing volume and trade in Brazil and other countries in SAM, which has a negative impact on the sub-woofer market offerings. Hence, the overall impact of COVID-19 on SAM region is moderate.
Dynaudio A/S, Harman International, JVC Kenwood Holdings Inc., K-Array, Klipsch Group Inc., Paradigm Electronics Inc., Sony Corporation, and SV Sound are among the leading companies in the SAM sub-woofer market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, K-array has unveiled a new line of audio solutions with the aim of introducing new technologies into the products while targeting budget-sensitive yet highly demanding applications.
SAM Sub-Woofer Market, By Country, 2020 and 2028 (%)
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org