Size most definately matters. The lower the bass note you want to reproduce, the more air you need to move. The size of the enclosure is definately directly related to the area of the driver(s)used in that enclosure.
There are two ways you can make up for driver size: increase excursion of the driver, better coupling of the driver to the air mass you are moving to make sound.
Of the two, more efficient coupling in the form of a horn loaded bass driver is the more effective, but both have their limits.
