Hungary: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Hungary

In 2022, the Hungarian market for turbo, rotary and reciporating displacement compressors decreased by -60.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption continues to indicate a noticeable reduction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Hungary

In value terms, production of turbo, rotary and reciporating displacement compressors fell remarkably to $X in 2022 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 317% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Hungary

After three years of decline, shipments abroad of turbo, rotary and reciporating displacement compressors increased by 4.6% to X units in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 44% against the previous year. Over the period under review, the exports of hit record highs at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of turbo, rotary and reciporating displacement compressors fell to $X in 2022. In general, exports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 15% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X units), France (X units) and Sweden (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from Hungary, with a combined 64% share of total exports. Poland, Germany, Italy, Slovakia and Austria lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +51.1%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), France ($X) and Spain ($X) constituted the largest markets for turbo, rotary and reciporating displacement compressor exported from Hungary worldwide, with a combined 56% share of total exports. Poland, Germany, Italy, Austria and Slovakia lagged somewhat behind, together accounting for a further 32%.

Among the main countries of destination, Italy, with a CAGR of +12.1%, 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 turbo, rotary and reciporating displacement compressors amounted to $X per unit, shrinking by -17.2% against the previous year. Overall, the export price recorded a pronounced descent. The pace of growth appeared the most rapid in 2013 an increase of 34% against the previous year. Over the period under review, the average export prices reached the peak figure 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 Austria ($X per unit), while the average price for exports to Slovakia ($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 Austria (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Hungary

In 2022, imports of turbo, rotary and reciporating displacement compressors into Hungary contracted sharply to X units, with a decrease of -36.7% compared with the previous year. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 45% against the previous year. As a result, imports attained the peak of X units, and then dropped rapidly in the following year.

In value terms, imports of turbo, rotary and reciporating displacement compressors reduced sharply to $X in 2022. Overall, imports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when imports increased by 24% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Slovakia (X units) constituted the largest turbo, rotary and reciporating displacement compressor supplier to Hungary, accounting for a 38% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from Slovakia exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. Poland (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Slovakia stood at +71.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.2% per year) and Poland (+8.1% per year).

In value terms, the largest turbo, rotary and reciporating displacement compressor suppliers to Hungary were Germany ($X), Poland ($X) and Slovakia ($X), together comprising 63% of total imports.

Among the main suppliers, Slovakia, with a CAGR of +70.6%, saw 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 import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, increasing by 19% against the previous year. In general, the import price, however, showed a deep setback. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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