Bulgaria: Loudspeaker Market 2024

Loudspeaker Market Size in Bulgaria

For the third year in a row, the Bulgarian loudspeaker market recorded growth in sales value, which increased by X% to $X in 2023. In general, consumption showed a buoyant expansion. Loudspeaker consumption peaked in 2023 and is expected to retain growth in the near future.

Loudspeaker Production in Bulgaria

In value terms, loudspeaker production rose slightly to $X in 2023 estimated in export price. Over the period under review, production recorded noticeable growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. Loudspeaker production peaked at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Loudspeaker Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded decline in overseas shipments of loudspeakers, which decreased by X% to X units in 2023. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, loudspeaker exports skyrocketed to $X in 2023. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for loudspeaker exports from Bulgaria, with a X% share of total exports. Moreover, loudspeaker exports to Germany exceeded the volume sent to the second major destination, Greece (X units), threefold. Romania (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (X% per year) and Romania (X% per year).

In value terms, Germany ($X) remains the key foreign market for loudspeakers exports from Bulgaria, comprising X% of total exports. The second position in the ranking was taken by Greece ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (X% per year) and the United States (X% per year).

Export Prices by Country

The average loudspeaker export price stood at $X per unit in 2023, growing by X% against the previous year. In general, the export price saw a resilient increase. The pace of growth appeared the most rapid in 2022 an increase of X%. The export price peaked in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Iraq ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Bulgaria

In 2023, purchases abroad of loudspeakers increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports posted a resilient increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, loudspeaker imports expanded significantly to $X in 2023. In general, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in years to come.

Imports by Country

In 2023, China (X units) constituted the largest loudspeaker supplier to Bulgaria, accounting for a X% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), threefold. The third position in this ranking was taken by Germany (X units), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Germany (X% per year).

In value terms, China ($X), the Netherlands ($X) and Italy ($X) were the largest loudspeaker suppliers to Bulgaria, together accounting for X% of total imports. Romania, Germany, the Czech Republic, Greece, Belgium, Hungary, Poland, Hong Kong SAR, France and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Romania, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2023, rising by X% against the previous year. Over the period under review, the import price posted a prominent expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Romania ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Romania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform