Hungary: Market for Air conditioning Machines without Refrigeration Unit 2024

Market Size for Air conditioning Machines without Refrigeration Unit in Hungary

In 2022, the Hungarian market for air conditioning machines without refrigeration unit increased by 0.5% to $X, rising for the sixth year in a row after two years of decline. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.7% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Air conditioning Machines without Refrigeration Unit in Hungary

In value terms, production of air conditioning machines without refrigeration unit fell modestly to $X in 2022 estimated in export price. In general, production saw a temperate expansion. The most prominent rate of growth was recorded in 2018 with an increase of 44%. Production of peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Air conditioning Machines without Refrigeration Unit

Exports from Hungary

Exports of air conditioning machines without refrigeration unit from Hungary surged to X units in 2022, jumping by 21% compared with 2021. Overall, total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% 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 +60.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 33%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, exports of air conditioning machines without refrigeration unit skyrocketed to $X in 2022. Over the period under review, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 39% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for exports of air conditioning machines without refrigeration unit from Hungary, with a 44% share of total exports. Moreover, exports of air conditioning machines without refrigeration unit to Germany exceeded the volume sent to the second major destination, Italy (X units), twofold. The third position in this ranking was held by Austria (X units), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+118.8% per year) and Austria (-5.3% per year).

In value terms, Germany ($X) emerged as the key foreign market for air conditioning machines without refrigeration unit exports from Hungary, comprising 47% of total exports. The second position in the ranking was held by Italy ($X), with a 22% share of total exports. It was followed by Austria, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+118.6% per year) and Austria (+0.4% per year).

Export Prices by Country

In 2022, the average export price for air conditioning machines without refrigeration unit amounted to $X per unit, increasing by 10% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for air conditioning machines without refrigeration unit increased by +10.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 31%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per unit), while the average price for exports to Slovakia ($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 (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Air conditioning Machines without Refrigeration Unit

Imports into Hungary

In 2022, imports of air conditioning machines without refrigeration unit into Hungary soared to X units, picking up by 38% on 2021. Overall, imports posted prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 95% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, imports of air conditioning machines without refrigeration unit skyrocketed to $X in 2022. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 98% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

South Korea (X units), Poland (X units) and Germany (X units) were the main suppliers of imports of air conditioning machines without refrigeration unit to Hungary, with a combined 81% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +40.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of air conditioning machines without refrigeration unit to Hungary, comprising 60% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by Poland, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea amounted to +54.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.0% per year) and Poland (+17.3% per year).

Import Prices by Country

In 2022, the average import price for air conditioning machines without refrigeration unit amounted to $X per unit, rising by 5.6% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for air conditioning machines without refrigeration unit increased by +82.3% against 2018 indices. The growth pace was the most rapid in 2020 an increase of 31% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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 South Korea ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform