Bulgaria: Loudspeaker Market 2024

Loudspeaker Market Size in Bulgaria

In 2023, after four years of decline, there was growth in the Bulgarian loudspeaker market, when its value increased by X% to $X. Overall, consumption, however, continues to indicate a remarkable increase. Loudspeaker consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Loudspeaker Production in Bulgaria

In value terms, loudspeaker production rose to $X in 2023 estimated in export price. In general, production enjoyed a notable expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Loudspeaker Exports

Exports from Bulgaria

In 2023, the amount of loudspeakers exported from Bulgaria fell to X units, declining by X% on the year before. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, loudspeaker exports surged to $X in 2023. Overall, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in years to come.

Exports by Country

Germany (X units) was the main destination for loudspeaker exports from Bulgaria, accounting for a X% share of total exports. Moreover, loudspeaker exports to Germany exceeded the volume sent to the second major destination, Romania (X units), fivefold. Greece (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Greece (X% per year).

In value terms, Germany ($X) remains the key foreign market for loudspeakers exports from Bulgaria, comprising X% of total exports. The second position in the ranking was taken by Greece ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (X% per year) and the United States (X% per year).

Export Prices by Country

In 2023, the average loudspeaker export price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price recorded a strong expansion. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2023 and is expected to retain growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Bulgaria

In 2023, overseas purchases of loudspeakers decreased by X% to X units, falling for the fifth consecutive year after three years of growth. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, loudspeaker imports expanded significantly to $X in 2023. Over the period under review, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in years to come.

Imports by Country

In 2023, China (X units) constituted the largest loudspeaker supplier to Bulgaria, accounting for a X% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by Hong Kong SAR (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Hong Kong SAR (X% per year).

In value terms, the largest loudspeaker suppliers to Bulgaria were China ($X), the Netherlands ($X) and Italy ($X), together comprising X% of total imports. Germany, the Czech Republic, Greece, Belgium, Hong Kong SAR, France and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Greece, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 loudspeaker import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price showed a buoyant expansion. The growth pace was the most rapid in 2022 an increase of X%. Over the period under review, average import prices hit record highs in 2023 and is likely to continue growth in the near future.

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 the Czech Republic ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform