Hungary: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Hungary

The Hungarian market for vacuum pumps and air or gas compressors shrank significantly to $X in 2022, reducing by -23.2% against the previous year. Overall, consumption, however, recorded a resilient expansion. Consumption of peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in Hungary

In value terms, production of vacuum pumps and air or gas compressors expanded rapidly to $X in 2022 estimated in export price. In general, production continues to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 3,853%. Production of peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Hungary

In 2022, shipments abroad of vacuum pumps and air or gas compressors increased by 1% to X units, rising for the second consecutive year after two years of decline. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 11%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of vacuum pumps and air or gas compressors contracted to $X in 2022. Over the period under review, exports, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2014 with an increase of 11% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Germany (X units), Spain (X units) and Poland (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from Hungary, together comprising 45% of total exports. France, the Czech Republic, Sweden, Italy, Turkey, Romania, the Netherlands, Mexico, the United States and the UK lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +164.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and Poland ($X) appeared to be the largest markets for vacuum pump and air or gas compressor exported from Hungary worldwide, together accounting for 42% of total exports. Sweden, France, Italy, the Czech Republic, Romania, Turkey, the United States, the UK, Mexico and the Netherlands lagged somewhat behind, together comprising a further 51%.

Among the main countries of destination, Mexico, with a CAGR of +142.2%, saw the highest rates of growth with regard to 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 export price for vacuum pumps and air or gas compressors amounted to $X per unit, reducing by -9.1% against the previous year. Over the period under review, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to the Netherlands ($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 the UK (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Hungary

Imports of vacuum pumps and air or gas compressors into Hungary declined to X units in 2022, waning by -12.6% on the year before. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 33%. Over the period under review, imports of attained the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of vacuum pumps and air or gas compressors contracted rapidly to $X in 2022. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 25%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Italy (X units) and Slovakia (X units) were the main suppliers of imports of vacuum pumps and air or gas compressors to Hungary, together comprising 65% of total imports. Germany, Poland, Turkey, the Netherlands, France, Romania, Austria and Japan lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +70.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vacuum pump and air or gas compressor suppliers to Hungary were Germany ($X), Poland ($X) and the Netherlands ($X), together comprising 52% of total imports. Slovakia, China, Italy, Romania, France, Turkey, Austria and Japan lagged somewhat behind, together comprising a further 35%.

Slovakia, with a CAGR of +38.4%, recorded 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

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, with a decrease of -10.6% against the previous year. Overall, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 5.9%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Romania ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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