Hungary: Metal Vehicle Lock Market 2024

Metal Vehicle Lock Market Size in Hungary

In 2021, the Hungarian metal vehicle lock market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Metal Vehicle Lock Production in Hungary

In value terms, metal vehicle lock production surged to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt shrinkage. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Metal Vehicle Lock Exports

Exports from Hungary

For the third consecutive year, Hungary recorded decline in overseas shipments of base metal motor vehicle locks, which decreased by -2.7% to X tons in 2021. In general, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 46%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, metal vehicle lock exports rose sharply to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 71%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for metal vehicle lock exports from Hungary, accounting for a 43% share of total exports. Moreover, metal vehicle lock exports to France exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Romania (X tons), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume to France totaled -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-18.7% per year) and Romania (+21.0% per year).

In value terms, France ($X) remains the key foreign market for base metal motor vehicle locks exports from Hungary, comprising 45% of total exports. The second position in the ranking was taken by Romania ($X), with a 15% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to France amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+22.1% per year) and Germany (-10.4% per year).

Export Prices by Country

The average metal vehicle lock export price stood at $X per ton in 2021, jumping by 18% against the previous year. In general, the export price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Slovenia ($X per ton), while the average price for exports to China ($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 France (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Vehicle Lock Imports

Imports into Hungary

In 2021, overseas purchases of base metal motor vehicle locks increased by 6.9% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports saw a significant increase. The pace of growth was the most pronounced in 2013 when imports increased by 148%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, metal vehicle lock imports amounted to $X in 2021. Overall, imports posted a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 145%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

The Czech Republic (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of metal vehicle lock imports to Hungary, together comprising 79% of total imports. These countries were followed by Bulgaria, Italy, China and Slovakia, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +361.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) constituted the largest supplier of base metal motor vehicle locks to Hungary, comprising 51% of total imports. The second position in the ranking was taken by Bulgaria ($X), with a 17% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from the Czech Republic stood at +64.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+373.0% per year) and Germany (+14.0% per year).

Import Prices by Country

The average metal vehicle lock import price stood at $X per ton in 2021, picking up by 2.2% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 11% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Bulgaria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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