Hungary: Headphone Market 2024

Headphone Market Size in Hungary

In 2022, the Hungarian headphone market increased by 61% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption posted a remarkable increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Headphone Production in Hungary

In value terms, headphone production reduced to $X in 2022 estimated in export price. Over the period under review, production posted a resilient expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 44% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Headphone Exports

Exports from Hungary

In 2022, after four years of growth, there was significant decline in overseas shipments of headphones, when their volume decreased by -32.9% to X units. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 374% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then contracted markedly in the following year.

In value terms, headphone exports soared to $X in 2022. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 416% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Italy (X units), Germany (X units) and the United States (X units) were the main destinations of headphone exports from Hungary, with a combined 51% share of total exports. The Netherlands, Slovenia, the UK, France, Bulgaria, Hong Kong SAR, Poland, Sweden, Croatia and Slovakia lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +80.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the United States ($X) appeared to be the largest markets for headphone exported from Hungary worldwide, together comprising 51% of total exports. The Netherlands, Slovenia, the UK, France, Bulgaria, Hong Kong SAR, Poland, Sweden, Croatia and Slovakia lagged somewhat behind, together comprising a further 34%.

Hong Kong SAR, with a CAGR of +87.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average headphone export price stood at $X per unit in 2022, surging by 79% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Slovenia ($X per unit) and Bulgaria ($X per unit), while the average price for exports to Slovakia ($X per unit) and Sweden ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Headphone Imports

Imports into Hungary

In 2022, overseas purchases of headphones decreased by -9% to X units, falling for the second year in a row after four years of growth. Over the period under review, imports, however, recorded measured growth. The pace of growth appeared the most rapid in 2018 when imports increased by 112%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, headphone imports fell slightly to $X in 2022. In general, imports, however, posted buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 160%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

The Czech Republic (X units), Ukraine (X units) and Germany (X units) were the main suppliers of headphone imports to Hungary, with a combined 64% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +345.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest headphone suppliers to Hungary were the Czech Republic ($X), Ukraine ($X) and Germany ($X), with a combined 64% share of total imports.

Among the main suppliers, Ukraine, with a CAGR of +414.4%, recorded the highest rates of growth with regard to the value of imports, 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 headphone import price amounted to $X per unit, increasing by 7.4% against the previous year. Over the period under review, the import price posted buoyant growth. The growth pace was the most rapid in 2016 when the average import price increased by 56% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per unit) and Romania ($X per unit), while the price for Slovakia ($X per unit) and Ireland ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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