The global sub-woofer market is expected to grow from US$ 834. 77 million in 2021 to US$ 1,132. 62 million by 2028; it is estimated to register a CAGR of 4. 5% during 2021-2028. A sub-woofer is used for various applications such as home audio, cinema sound, car audio, sound reinforcement, outdoor entertainment, and others.
New York, June 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application and End-user" - https://www.reportlinker.com/p06232610/?utm_source=GNW
The requirement for sub-woofers is growing with the increasing number of public meetings, stand-up comedy shows, and cinema halls.
Shifting preferences and changing consumer lifestyle toward using on-board infotainment systems in ride-hailing services is anticipated to create promising opportunities in the sub-woofer market.
The sub-woofer market is segmented into application, end-user, and geography.Based on application, the sub-woofer market is segmented into car audio, home audio, cinema sound, sound reinforcement, and others.
In 2020, home audio segment held the largest share in the market.In terms of end-user, the sub-woofer market is segmented into residential and commercial.
In 2020, the commercial segment accounted for a larger share.Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
In 2020, Asia Pacific accounted for a significant share in the global market.
During the COVID-19 pandemic, the sub-woofer industry came to a halt due to minimal resources.The temporary shutdown of the manufacturing units has negatively impacted the growth of the sub-woofer market across the globe and has created many uncertainties in the stock market, decline in the supply chain, falling business confidence, and growing panic among consumers.
Due to the unusual coronavirus outbreak, the production and supply chain procedures have been halted.Also, the research and development (R&D) exercises of key players have been halted across the globe.
The sale of sub-woofer has been decreased during the Covid-19 outbreak due to the operational constraints on sales channels such as specialty stores and e-commerce platforms. Nonetheless, certain manufacturing firms have restarted their plans and prepared to owe to the rests imposed on the restrictions, by the government bodies, in several regions.
In 2020, the US witnessed most severe impact of COVID-19.Sub-woofer manufacturers and service providers were affected due to nationwide lockdowns, travel restrictions, shutdown of production facilities, and shortage of employees.
The pandemic led to health and economic crises in the US.Moreover, it led to disruptions in the consumer electronics industry, impacting various aspects such as supply chain, manufacturing, and sales.
The pandemic has directly and indirectly affected the sub-woofer market, and it is expected to witness growth with decreasing COVID-19 cases.
The overall sub-woofer market size has been derived using both primary and secondary sources.Extensive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The research also serves the purpose of obtaining an overview and forecast of the sub-woofer market with all the segments.It also offers an overview and forecast of the market based on the segmentation provided concerning five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of the research include VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the sub-woofer market.
Dynaudio A/S, K-Array, Harman International, Sony Corporation, SV Sound, Pioneer India Electronics Pvt. Ltd., Paradigm Electronics Inc., LW Speakers professional sound systems, Klipsch Group Inc., and JVC Kenwood Holdings Inc are among the few companies operating in the global sub-woofer market.
Read the full report: https://www.reportlinker.com/p06232610/?utm_source=GNW
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