Eastern Europe: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Eastern Europe

The East European electrical musical instrument market contracted to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then shrank slightly in the following year.

Electrical Musical Instrument Production in Eastern Europe

In value terms, electrical musical instrument production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Electrical Musical Instrument Exports

Exports in Eastern Europe

In 2022, after ten years of growth, there was significant decline in shipments abroad of electrical musical or keyboard instruments, when their volume decreased by X% to X units. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of export peaked at X units in 2021, and then dropped in the following year.

In value terms, electrical musical instrument exports declined sharply to $X in 2022. In general, exports, however, posted a strong expansion. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then dropped rapidly in the following year.

Exports by Country

The biggest shipments were from Poland (X units), the Czech Republic (X units), Russia (X units), Romania (X units), Belarus (X units), Slovakia (X units), Lithuania (X units) and Latvia (X units), together finishing at X% of total export.

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 electrical musical instrument supplying countries in Eastern Europe were Poland ($X), the Czech Republic ($X) and Romania ($X), together comprising X% of total exports. Russia, Slovakia, Lithuania, Latvia and Belarus lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Russia, with a CAGR of X%, recorded 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

In 2022, the export price in Eastern Europe amounted to $X per unit, falling by X% against the previous year. In general, the export price recorded a abrupt decline. The pace of growth appeared the most rapid in 2016 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the other leaders experienced mixed trends in the export price figures.

Electrical Musical Instrument Imports

Imports in Eastern Europe

After five years of growth, overseas purchases of electrical musical or keyboard instruments decreased by X% to X units in 2022. Overall, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X units, and then declined in the following year.

In value terms, electrical musical instrument imports shrank slightly to $X in 2022. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Russia represented the largest importer of electrical musical or keyboard instruments in Eastern Europe, with the volume of imports amounting to X units, which was approx. X% of total imports in 2022. Poland (X units) took the second position in the ranking, followed by the Czech Republic (X units), Romania (X units) and Slovakia (X units). All these countries together held near X% share of total imports. The following importers - Ukraine (X units) and Hungary (X units) - each finished at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to electrical musical instrument imports into Russia stood at X%. At the same time, Romania (X%), the Czech Republic (X%), Slovakia (X%), Poland (X%) and Hungary (X%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. By contrast, Ukraine (X%) illustrated a downward trend over the same period. While the share of Poland (X p.p.), Romania (X p.p.) and the Czech Republic (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ukraine (X p.p.) and Russia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported electrical musical or keyboard instruments in Eastern Europe, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by the Czech Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Russia amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2022, growing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Romania ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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