Denmark: Accordion Market 2024

Accordion Market Size in Denmark

In 2021, the Danish accordion market decreased by -34.4% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption recorded a perceptible curtailment. Accordion consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Accordion Production in Denmark

In value terms, accordion production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Accordion Exports

Exports from Denmark

In 2021, the amount of accordions and mouth organs exported from Denmark skyrocketed to X units, surging by 28% compared with 2020 figures. Over the period under review, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 217%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, accordion exports fell modestly to $X in 2021. Overall, exports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 401%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Norway (X units) and Faroe Islands (X units) were the main destinations of accordion exports from Denmark, with a combined 46% share of total exports. The UK, Hong Kong SAR, France, Sweden, Poland, Belgium, Switzerland, Greenland, the Netherlands and the Czech Republic lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +105.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) emerged as the key foreign market for accordions and mouth organs exports from Denmark, comprising 50% of total exports. The second position in the ranking was held by Norway ($X), with an 18% share of total exports. It was followed by Hong Kong SAR, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +46.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+20.3% per year) and Hong Kong SAR (+97.6% per year).

Export Prices by Country

The average accordion export price stood at $X per unit in 2021, dropping by -24% against the previous year. Over the period under review, the export price, however, continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 108% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into Denmark

In 2021, approx. X units of accordions and mouth organs were imported into Denmark; declining by -32.8% on the previous year. Overall, imports continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2020 with an increase of 79%. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, accordion imports fell dramatically to $X in 2021. In general, imports, however, showed a notable expansion. The pace of growth was the most pronounced in 2013 with an increase of 166%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of accordion imports to Denmark, with a combined 82% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +98.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of accordions and mouth organs to Denmark, comprising 63% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Japan, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.0% per year) and Japan (+3.1% per year).

Import Prices by Country

In 2021, the average accordion import price amounted to $X per unit, with an increase of 5.8% against the previous year. Overall, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, accordion import price decreased by -9.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 98% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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