Czech Republic: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in the Czech Republic

The Czech electrical musical instrument market contracted to $X in 2022, waning by X% against the previous year. In general, consumption showed a slight contraction. Electrical musical instrument consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Electrical Musical Instrument Production in the Czech Republic

In value terms, electrical musical instrument production fell rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Electrical musical instrument production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Electrical Musical Instrument Exports

Exports from the Czech Republic

In 2022, after ten years of growth, there was significant decline in overseas shipments of electrical musical or keyboard instruments, when their volume decreased by X% to X units. Over the period under review, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The exports peaked at X units in 2021, and then reduced notably in the following year.

In value terms, electrical musical instrument exports declined rapidly to $X in 2022. Overall, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2020 when exports increased by X%. The exports peaked at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

Germany (X units), Slovakia (X units) and Poland (X units) were the main destinations of electrical musical instrument exports from the Czech Republic, with a combined X% share of total exports. Hungary, the United States, Austria and Romania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical musical instrument exported from the Czech Republic were Slovakia ($X), Germany ($X) and the United States ($X), with a combined X% share of total exports. Poland, Hungary, Romania and Austria lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical musical instrument export price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the export price, however, recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, the average export prices reached the maximum 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 external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Austria ($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 (X%), while the prices for the other major destinations experienced a decline.

Electrical Musical Instrument Imports

Imports into the Czech Republic

After five years of growth, overseas purchases of electrical musical or keyboard instruments decreased by X% to X units in 2022. In general, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked at X units in 2021, and then declined in the following year.

In value terms, electrical musical instrument imports shrank to $X in 2022. Overall, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of electrical musical instrument to the Czech Republic, accounting for a X% share of total imports. Moreover, electrical musical instrument imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The Netherlands (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the Netherlands (X% per year).

In value terms, Germany ($X) constituted the largest supplier of electrical musical or keyboard instruments to the Czech Republic, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Austria, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Austria (X% per year).

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, rising by X% against the previous year. Overall, the import price, however, saw a slight decline. The pace of growth was the most pronounced in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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