Hungary: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Hungary

The Hungarian wooden bedroom furniture market reduced remarkably to $X in 2022, falling by -23.7% against the previous year. In general, consumption, however, showed prominent growth. As a result, consumption attained the peak level of $X, and then shrank dramatically in the following year.

Wooden Bedroom Furniture Production in Hungary

In value terms, wooden bedroom furniture production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when the production volume increased by 31% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Wooden Bedroom Furniture Exports

Exports from Hungary

In 2022, overseas shipments of wooden furniture of a kind used in the bedroom decreased by -3% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. Over the period under review, the exports hit record highs at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports fell to $X in 2022. Overall, exports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 43% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Germany (X units), Austria (X units) and the United States (X units) were the main destinations of wooden bedroom furniture exports from Hungary, with a combined 76% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +68.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden bedroom furniture exported from Hungary were Germany ($X), Austria ($X) and the United States ($X), together comprising 76% of total exports.

The United States, with a CAGR of +70.0%, recorded the highest growth rate of 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

In 2022, the average wooden bedroom furniture export price amounted to $X per unit, falling by -6.3% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then reduced in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Germany ($X per unit), while the average price for exports to Switzerland ($X per unit) and Belgium ($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 the United States (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into Hungary

After three years of growth, overseas purchases of wooden furniture of a kind used in the bedroom decreased by -30.7% to X units in 2022. In general, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 48%. Imports peaked at X units in 2021, and then dropped rapidly in the following year.

In value terms, wooden bedroom furniture imports rose remarkably to $X in 2022. Overall, imports, however, saw a resilient increase. The growth pace was the most rapid in 2018 with an increase of 20% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Poland (X units) constituted the largest supplier of wooden bedroom furniture to Hungary, with a 58% share of total imports. Moreover, wooden bedroom furniture imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was held by Turkey (X units), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.0% per year) and Turkey (+29.3% per year).

In value terms, Poland ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to Hungary, comprising 58% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Turkey, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from Poland stood at +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.8% per year) and Turkey (+30.3% per year).

Import Prices by Country

In 2022, the average wooden bedroom furniture import price amounted to $X per unit, increasing by 53% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were France ($X per unit) and Italy ($X per unit), while the price for Lithuania ($X per unit) and Austria ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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