Hungary: Ball Bearing Market 2024

Ball Bearing Market Size in Hungary

In 2021, the Hungarian ball bearing market decreased by -68.6% to $X, falling for the third year in a row after seven years of growth. Over the period under review, consumption saw a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Ball Bearing Production in Hungary

In value terms, ball bearing production dropped rapidly to $X in 2021 estimated in export price. In general, production continues to indicate a significant decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 46% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Ball Bearing Exports

Exports from Hungary

In 2021, overseas shipments of ball bearings increased by 22% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports surged to $X in 2021. Over the period under review, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +91.9% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for ball bearing exports from Hungary, with a 67% share of total exports. Moreover, ball bearing exports to Germany exceeded the volume sent to the second major destination, Romania (X tons), more than tenfold. The third position in this ranking was taken by Poland (X tons), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+6.6% per year) and Poland (+48.5% per year).

In value terms, Germany ($X) remains the key foreign market for ball bearings exports from Hungary, comprising 39% of total exports. The second position in the ranking was held by Romania ($X), with a 9.3% share of total exports. It was followed by Ukraine, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+2.5% per year) and Ukraine (+28.3% per year).

Export Prices by Country

In 2021, the average ball bearing export price amounted to $X per ton, rising by 5.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2018 an increase of 17% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Hungary

In 2021, imports of ball bearings into Hungary skyrocketed to X tons, increasing by 25% against the previous year's figure. The total import volume increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing imports soared to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.1% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and Italy (X tons) were the main suppliers of ball bearing imports to Hungary, with a combined 69% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +16.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of ball bearings to Hungary, comprising 47% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by Poland, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.4% per year) and Poland (+5.8% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, surging by 4.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 11% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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