Serbia: Market for Upholstered Seats With Wooden Frames 2024

Market Size for Upholstered Seats With Wooden Frames in Serbia

For the third consecutive year, the Serbian wooden frame upholstered seat market recorded growth in sales value, which increased by 53% to $X in 2022. In general, consumption enjoyed a perceptible increase. Wooden frame upholstered seat consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Upholstered Seats With Wooden Frames in Serbia

In value terms, wooden frame upholstered seat production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2016 with an increase of 115%. Wooden frame upholstered seat production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Upholstered Seats With Wooden Frames

Exports from Serbia

After two years of decline, shipments abroad of upholstered seats with wooden frames increased by 35% to X units in 2022. In general, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 77% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, wooden frame upholstered seat exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.8% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X units), France (X units) and Croatia (X units) were the main destinations of wooden frame upholstered seat exports from Serbia, together comprising 49% of total exports. Montenegro, Bosnia and Herzegovina, the Netherlands, North Macedonia, Bulgaria, Russia, Switzerland, Romania, Slovenia and Germany lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of +21.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden frame upholstered seat exported from Serbia were Italy ($X), France ($X) and Croatia ($X), with a combined 49% share of total exports. Montenegro, Bosnia and Herzegovina, the Netherlands, North Macedonia, Bulgaria, Russia, Switzerland, Romania, Slovenia and Germany lagged somewhat behind, together comprising a further 38%.

Among the main countries of destination, Bulgaria, with a CAGR of +23.5%, recorded the highest growth rate of 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 average wooden frame upholstered seat export price amounted to $X per unit, shrinking by -6.9% against the previous year. Overall, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden frame upholstered seat export price increased by +53.0% against 2019 indices. The pace of growth appeared the most rapid in 2018 an increase of 71%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Bulgaria ($X per unit) and Bosnia and Herzegovina ($X per unit), while the average price for exports to Slovenia ($X per unit) and Switzerland ($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 Bulgaria (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Upholstered Seats With Wooden Frames

Imports into Serbia

After three years of growth, purchases abroad of upholstered seats with wooden frames decreased by -0.4% to X units in 2022. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 29%. Imports peaked at X units in 2021, and then fell in the following year.

In value terms, wooden frame upholstered seat imports reached $X in 2022. Over the period under review, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 24% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Italy (X units), Turkey (X units) and Bosnia and Herzegovina (X units) were the main suppliers of wooden frame upholstered seat imports to Serbia, with a combined 57% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +58.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Turkey ($X) and Bosnia and Herzegovina ($X) were the largest wooden frame upholstered seat suppliers to Serbia, together comprising 57% of total imports.

Among the main suppliers, Turkey, with a CAGR of +59.8%, saw the highest growth rate of 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

The average wooden frame upholstered seat import price stood at $X per unit in 2022, surging by 15% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per unit) and North Macedonia ($X per unit), while the price for Croatia ($X per unit) and Romania ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform