Hungary: Loudspeaker Market 2024

Loudspeaker Market Size in Hungary

After three years of growth, the Hungarian loudspeaker market decreased by X% to $X in 2023. Overall, consumption showed a drastic downturn. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Loudspeaker Production in Hungary

In value terms, loudspeaker production declined modestly to $X in 2023 estimated in export price. In general, production saw a noticeable setback. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

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Loudspeaker Exports

Exports from Hungary

In 2023, the amount of loudspeakers exported from Hungary soared to X units, jumping by X% compared with the previous year's figure. In general, total exports indicated buoyant growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at X units in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, loudspeaker exports soared to $X in 2023. Overall, total exports indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The exports peaked in 2023 and are likely to continue growth in years to come.

Exports by Country

Germany (X units) was the main destination for loudspeaker exports from Hungary, accounting for a X% share of total exports. Moreover, loudspeaker exports to Germany exceeded the volume sent to the second major destination, Belgium (X units), threefold. France (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and France (X% per year).

In value terms, Germany ($X) remains the key foreign market for loudspeakers exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Sweden ($X), with an X% share of total exports. It was followed by the Czech Republic, with an X% share.

From 2012 to 2023, the average annual growth rate of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and the Czech Republic (X% per year).

Export Prices by Country

In 2023, the average loudspeaker export price amounted to $X per unit, falling by X% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, loudspeaker export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2022, and then declined slightly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Russia ($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 the Czech Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Hungary

In 2023, imports of loudspeakers into Hungary dropped to X units, falling by X% against 2022. In general, imports saw a mild shrinkage. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, loudspeaker imports declined to $X in 2023. Overall, total imports indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then dropped in the following year.

Imports by Country

In 2023, China (X units) constituted the largest supplier of loudspeaker to Hungary, with a X% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), twofold. Germany (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of loudspeakers to Hungary, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Germany (X% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2023, reducing by X% against the previous year. In general, the import price, however, saw a remarkable increase. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The import price peaked at $X per unit in 2022, and then shrank in the following year.

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

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

Source: IndexBox Platform