- Outsourced production accounted for 87% of global TWS shipments in H1 2022.
- Luxshare and Goertek retained their first and second ranks, respectively, among TWS manufacturers. They jointly accountedglobal outsourced TWS production shipments in H1 2022.
Beijing, New Delhi, Hong Kong, Taipei, Seoul, London, San Diego, Buenos Aires
TWS shipments from outsourced manufacturing companiesincreased 16% YoY in H1 2022, according to Counterpoint Research’sGlobal TWS Hearables Manufacturing Tracker and Report, H1 2022. Meanwhile, total global TWS shipments grew 9.4% YoY in H1 2022. The share of TWS shipments from outsourced production (ODM/EMS) increased to 87% of total global TWS shipments in H1 2022 from 83% in 2021.
H1 2022 and 2021 Global TWS Manufacturing Operations
Source: Counterpoint Research’s Global TWS Hearables Manufacturing Tracker, H1 2022
评论TWS市场,Senior Research Analyst Shenghao Baisaid, “Despite economic headwinds in H1 2022, the global TWS market continued to grow, especially in emerging markets. ODMs/EMSs stand to benefit from this growth trend because several key TWS brands rely on outsourced manufacturing.”
Senior Research Analyst Ivan Lamadded, “Affordable TWS modelswere welcomed in H1 2022 as consumers tightened their purse strings in anticipation of a lurking recession. Brands such asboAt,Xiaomiand Skullcandy absorbed the demand for affordable TWS, mainly in Asia and Europe. The TWS production of these brands is completely outsourced. ODMs that mainly produce low-to-mid-end models registered more orders in H1 2022.”
LuxshareandGoertekremained the top-ranking ODMs/EMSs in the competitive global TWS landscape in H1 2022. The two companies jointly accounted for 33% of the global outsourced TWS manufacturing in H1 2022, down from 35% in H1 2021.
Ranking, Growth of Global TWS ODM/EMS Vendors
Source: Counterpoint Research’s Global TWS Hearables Manufacturing Tracker, H1 2022
Commenting on the leading ODMs’ performances,Shenghaosaid, “Luxshare and Goertek both had higher shipments in H1 2022 due to the popularity of the Apple AirPods 3 and AirPods Pro. Luxshare will also benefit from Apple’s recently launched AirPods Pro 2. Among Tier-2 companies, Huaqin increased its cooperation with realme based on its partnership with Huawei, which boosted its TWS shipments in H1 2022. Huaqin will also continue to expand its cooperation withOPPOGroup andHONORTWS业务增长。2022年H1,Horn’s shipments increased due to strong orders from Skullcandy while Zhengrong’s growth was driven by Xiaomi’s new models.”
Diversification of manufacturing in the global electronics industry has continued. ODMs such asCosonic,AACandZhengronghave beenexpanding their operations to Southeast Asia or India.These companies are also diversifiying their portfolios into other smart devices such as smartwatches, smart speakers and smart home devices.
Commenting on these trends,Ivan说,“从emergi TWS的增长中获益ng markets, some Chinese ODMs are investing in more manufacturing sites overseas. Establishing local factories can help companies build connections with local clients more easily and capitalize on lower labor costs. Also, portfolio diversification can help ODMs stay ahead of competition and lower exposure to risks. We expect an acceleration in the expansion to regions outside China after COVID-19 restrictions are eased. However, one should be wary of limiting factors such as sub-optimal supply chain ecosystems and local policy risks.”
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You can alsovisit our Data Section(updated quarterly) to view theTWSmarket share forWorld,USA,ChinaandIndia.
Analyst Contact
Shenghao Bai
shenghao.bai@www.arena-ruc.com
Ivan Lam
ivan.lam@www.arena-ruc.com
Counterpoint Research
press@www.arena-ruc.com
