Hungary: Electric Sound Amplifier Market 2024

Electric Sound Amplifier Market Size in Hungary

After two years of growth, the Hungarian electric sound amplifier market decreased by -91% to $X in 2022. Over the period under review, consumption saw a abrupt shrinkage. As a result, consumption attained the peak level of $X, and then contracted significantly in the following year.

Electric Sound Amplifier Exports

Exports from Hungary

In 2022, overseas shipments of electric sound amplifier sets increased by 400% to X units, rising for the fourth year in a row after four years of decline. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 589% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, electric sound amplifier exports contracted markedly to $X in 2022. In general, exports, however, faced a dramatic decline. The pace of growth was the most pronounced in 2020 when exports increased by 456% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines (X units) was the main destination for electric sound amplifier exports from Hungary, accounting for a 94% share of total exports. Moreover, electric sound amplifier exports to the Philippines exceeded the volume sent to the second major destination, France (X units), more than tenfold. Romania (X units) ranked third in terms of total exports with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+109.6% per year) and Romania (+10.0% per year).

In value terms, the largest markets for electric sound amplifier exported from Hungary were Romania ($X), France ($X) and the Philippines ($X), together accounting for 40% of total exports.

France, with a CAGR of +43.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average electric sound amplifier export price stood at $X per unit in 2022, waning by -97.3% against the previous year. In general, the export price showed a sharp downturn. The growth pace was the most rapid in 2015 when the average export price increased by 42%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-3.7%), while the prices for the other major destinations experienced a decline.

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Electric Sound Amplifier Imports

Imports into Hungary

In 2022, supplies from abroad of electric sound amplifier sets decreased by -3.3% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, posted resilient growth. The growth pace was the most rapid in 2020 when imports increased by 109%. Over the period under review, imports hit record highs at X units in 2021, and then dropped slightly in the following year.

In value terms, electric sound amplifier imports surged to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 85% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric sound amplifier to Hungary, with a 71% share of total imports. Moreover, electric sound amplifier imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), sevenfold. The Netherlands (X units) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +54.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.6% per year) and the Netherlands (+21.2% per year).

In value terms, the Netherlands ($X), Poland ($X) and China ($X) were the largest electric sound amplifier suppliers to Hungary, together accounting for 85% of total imports.

China, with a CAGR of +57.7%, saw the highest growth rate of 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 2022, the average electric sound amplifier import price amounted to $X per unit, increasing by 23% against the previous year. Overall, the import price continues to indicate a slight increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 91%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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