Hungary: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Hungary

In 2022, the Hungarian tow-behind air compressor market decreased by -32.9% to $X, falling for the second year in a row after four years of growth. Overall, consumption, however, enjoyed prominent growth. Tow-behind air compressor consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Tow-Behind Air Compressor Exports

Exports from Hungary

After two years of decline, overseas shipments of air compressors mounted on a wheeled chassis for towing increased by 507% to X units in 2022. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tow-behind air compressor exports soared to $X in 2022. In general, exports, however, continue to indicate a perceptible downturn. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Georgia (X units) was the main destination for tow-behind air compressor exports from Hungary, with a 65% share of total exports. Moreover, tow-behind air compressor exports to Georgia exceeded the volume sent to the second major destination, Germany (X units), twofold. Bosnia and Herzegovina (X units) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Georgia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+34.1% per year) and Bosnia and Herzegovina (-12.7% per year).

In value terms, the largest markets for tow-behind air compressor exported from Hungary were Georgia ($X), Germany ($X) and Romania ($X), with a combined 91% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +15.8%, 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

The average tow-behind air compressor export price stood at $X per unit in 2022, waning by -72.5% against the previous year. Over the period under review, the export price faced a abrupt setback. The growth pace was the most rapid in 2020 when the average export price increased by 27%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while the average price for exports to Georgia ($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 Bosnia and Herzegovina (+27.8%), while the prices for the other major destinations experienced mixed trend patterns.

Tow-Behind Air Compressor Imports

Imports into Hungary

In 2022, supplies from abroad of air compressors mounted on a wheeled chassis for towing decreased by -24.9% to X units, falling for the third year in a row after three years of growth. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 181% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, tow-behind air compressor imports dropped to $X in 2022. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 133% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest tow-behind air compressor supplier to Hungary, with a 72% share of total imports. Moreover, tow-behind air compressor imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. The Czech Republic (X units) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +31.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.9% per year) and the Czech Republic (+88.5% per year).

In value terms, the largest tow-behind air compressor suppliers to Hungary were China ($X), Italy ($X) and the Czech Republic ($X), together accounting for 57% of total imports.

Among the main suppliers, the Czech Republic, with a CAGR of +79.6%, saw the highest growth rate of 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

In 2022, the average tow-behind air compressor import price amounted to $X per unit, increasing by 28% against the previous year. Overall, the import price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2020 when the average import price increased by 156% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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