Hungary: Tools For Bearing Market 2024

Tools For Bearing Market Size in Hungary

The Hungarian tools for bearing market reduced to $X in 2022, declining by -6.2% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Tools for bearing consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Tools For Bearing Production in Hungary

In value terms, tools for bearing production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 483% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Tools For Bearing Exports

Exports from Hungary

In 2022, the amount of balls, needles and rollers for ball or roller bearings exported from Hungary reduced slightly to X tons, approximately equating 2021 figures. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 17%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, tools for bearing exports dropped to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Austria (X tons) was the main destination for tools for bearing exports from Hungary, accounting for a 90% share of total exports. Moreover, tools for bearing exports to Austria exceeded the volume sent to the second major destination, Romania (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 3% share.

From 2012 to 2022, the average annual growth rate of volume to Austria stood at +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-7.6% per year) and Italy (+3.1% per year).

In value terms, Austria ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Hungary, comprising 74% of total exports. The second position in the ranking was held by Romania ($X), with a 10% share of total exports. It was followed by Italy, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-2.1% per year) and Italy (+2.8% per year).

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2018 an increase of 16% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+5.9%), while the prices for the other major destinations experienced mixed trend patterns.

Tools For Bearing Imports

Imports into Hungary

Tools for bearing imports into Hungary dropped sharply to X tons in 2022, shrinking by -19.4% compared with the previous year's figure. Overall, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2013 when imports increased by 67% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, tools for bearing imports contracted to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 40%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Germany (X tons) and China (X tons) were the main suppliers of tools for bearing imports to Hungary, together comprising 63% of total imports. Italy, France, Austria, Poland, the UK and Slovakia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +33.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Hungary, comprising 30% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-7.6% per year) and China (+13.3% per year).

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, growing by 6.9% against the previous year. Overall, the import price, however, showed a abrupt curtailment. The growth pace was the most rapid in 2016 when the average import price increased by 11%. Over the period under review, average import prices attained the maximum at $X per ton 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 Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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