Hungary: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Hungary

In 2022, the Hungarian agricultural forestry machinery market decreased by -4.7% to $X, falling for the fifth year in a row after four years of growth. Overall, consumption recorded a noticeable slump. Agricultural forestry machinery consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Agricultural Forestry Machinery Production in Hungary

In value terms, agricultural forestry machinery production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate tangible growth. The growth pace was the most rapid in 2014 with an increase of 215%. Agricultural forestry machinery production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Agricultural Forestry Machinery Exports

Exports from Hungary

In 2022, agricultural forestry machinery exports from Hungary skyrocketed to X units, increasing by 23% compared with the previous year's figure. In general, total exports indicated a tangible expansion from 2012 to 2022: its volume 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, exports increased by +57.7% against 2020 indices. The growth pace was the most rapid in 2016 when exports increased by 51%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, agricultural forestry machinery exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong expansion. The growth pace was the most rapid in 2016 when exports increased by 72%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X units) was the main destination for agricultural forestry machinery exports from Hungary, accounting for a 49% share of total exports. Moreover, agricultural forestry machinery exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was taken by Russia (X units), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-9.7% per year) and Russia (+26.3% per year).

In value terms, the Netherlands ($X) remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Hungary, comprising 61% of total exports. The second position in the ranking was taken by Germany ($X), with a 12% share of total exports. It was followed by Russia, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to +27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-6.0% per year) and Russia (+27.1% per year).

Export Prices by Country

The average agricultural forestry machinery export price stood at $X per unit in 2022, with an increase of 4.8% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 16% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Serbia ($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 Germany (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into Hungary

Agricultural forestry machinery imports into Hungary fell remarkably to X units in 2022, which is down by -21.7% compared with the year before. In general, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2019 when imports increased by 31% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, agricultural forestry machinery imports contracted to $X in 2022. Overall, imports continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 38% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), Germany (X units) and Sweden (X units) were the main suppliers of agricultural forestry machinery imports to Hungary, with a combined 49% share of total imports. These countries were followed by the Czech Republic, Poland, Romania, Turkey, Denmark, Spain, Greece, the Netherlands, France and Croatia, which together accounted for a further 42%.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +29.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the Czech Republic ($X) were the largest agricultural forestry machinery suppliers to Hungary, with a combined 55% share of total imports. These countries were followed by Sweden, Poland, Romania, the Netherlands, Spain, France, Turkey, Denmark, Greece and Croatia, which together accounted for a further 37%.

Greece, with a CAGR of +28.0%, recorded the highest growth rate of the value of imports, among 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 agricultural forestry machinery import price stood at $X per unit in 2022, with an increase of 9.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2021 an increase of 20%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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