Slovenia: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Slovenia

The Slovene percussion musical instrument market soared to $X in 2022, increasing by 76% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed strong growth. Percussion musical instrument consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Percussion Musical Instrument Exports

Exports from Slovenia

In 2022, shipments abroad of percussion musical instruments decreased by -71.6% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports recorded a noticeable decline. The pace of growth was the most pronounced in 2014 when exports increased by 150% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, percussion musical instrument exports dropped remarkably to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 137%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Croatia (X units) was the main destination for percussion musical instrument exports from Slovenia, accounting for a 32% share of total exports. Moreover, percussion musical instrument exports to Croatia exceeded the volume sent to the second major destination, Serbia (X units), twofold. The third position in this ranking was taken by Hungary (X units), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Croatia stood at -8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-4.8% per year) and Hungary (+9.2% per year).

In value terms, Croatia ($X) remains the key foreign market for percussion musical instruments exports from Slovenia, comprising 34% of total exports. The second position in the ranking was held by Serbia ($X), with a 15% share of total exports. It was followed by Hungary, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Croatia totaled -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-1.3% per year) and Hungary (+13.4% per year).

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, with an increase of 80% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+34.5%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Slovenia

In 2022, the amount of percussion musical instruments imported into Slovenia surged to X units, picking up by 44% compared with the previous year's figure. Over the period under review, imports posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 106%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, percussion musical instrument imports fell to $X in 2022. Overall, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 71%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of percussion musical instrument imports to Slovenia, with a combined 73% share of total imports. The United States, Canada, Taiwan (Chinese) and Turkey lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +38.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the Netherlands ($X) appeared to be the largest percussion musical instrument suppliers to Slovenia, together comprising 73% of total imports. The United States, Canada, Taiwan (Chinese) and Turkey lagged somewhat behind, together accounting for a further 18%.

In terms of the main suppliers, Turkey, with a CAGR of +19.8%, 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

The average percussion musical instrument import price stood at $X per unit in 2022, dropping by -35.5% against the previous year. In general, the import price saw a deep reduction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 9.8% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 Canada ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for Turkey ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-8.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform