Hungary: Electric Blanket Market 2024

Electric Blanket Market Size in Hungary

In 2021, the Hungarian electric blanket market increased by 11% to $X, rising for the third consecutive year after three years of decline. Overall, consumption saw buoyant growth. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Electric Blanket Production in Hungary

In value terms, electric blanket production fell modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2013 with an increase of 7.3%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

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Electric Blanket Exports

Exports from Hungary

In 2021, shipments abroad of electric blankets increased by 42% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded a slight expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 64% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, electric blanket exports soared to $X in 2021. Over the period under review, exports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 49%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for electric blanket exports from Hungary, with a 43% share of total exports. Moreover, electric blanket exports to Germany exceeded the volume sent to the second major destination, France (X units), twofold. The third position in this ranking was held by Belgium (X units), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+3.2% per year) and Belgium (+33.5% per year).

In value terms, Germany ($X) remains the key foreign market for electric blankets exports from Hungary, comprising 44% of total exports. The second position in the ranking was taken by France ($X), with a 20% share of total exports. It was followed by Belgium, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+2.1% per year) and Belgium (+32.4% per year).

Export Prices by Country

In 2021, the average electric blanket export price amounted to $X per unit, growing by 2.1% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced descent. The growth pace was the most rapid in 2013 when the average export price increased by 12%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Switzerland ($X per unit) and Romania ($X per unit), while the average price for exports to Belgium ($X per unit) and Spain ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (-0.8%), while the prices for the other major destinations experienced a decline.

Electric Blanket Imports

Imports into Hungary

In 2021, approx. X units of electric blankets were imported into Hungary; jumping by 199% against the previous year's figure. Overall, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric blanket imports rose significantly to $X in 2021. Over the period under review, imports, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2019 with an increase of 65%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Bulgaria (X units) constituted the largest electric blanket supplier to Hungary, with a 63% share of total imports. Moreover, electric blanket imports from Bulgaria exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by the Czech Republic (X units), with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume from Bulgaria was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+29.7% per year) and the Czech Republic (+41.2% per year).

In value terms, the largest electric blanket suppliers to Hungary were China ($X), Germany ($X) and the Czech Republic ($X), together comprising 83% of total imports.

The Czech Republic, with a CAGR of +45.6%, 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 2021, the average electric blanket import price amounted to $X per unit, dropping by -63.6% against the previous year. Overall, the import price faced a abrupt descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 17% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Bulgaria (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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