Hungary: Bicycle Market 2025

Bicycle Market Size in Hungary

In 2021, the Hungarian bicycle market decreased by -45.7% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a slight descent. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Bicycle Production in Hungary

In value terms, bicycle production declined sharply to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2013 when the production volume increased by 65% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Bicycle Exports

Exports from Hungary

In 2021, shipments abroad of bicycles and other cycles increased by 328% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, showed a perceptible setback. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, bicycle exports skyrocketed to $X in 2021. In general, exports, however, saw a abrupt slump. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X units), Belgium (X units) and Slovakia (X units) were the main destinations of bicycle exports from Hungary, together comprising 69% of total exports. These countries were followed by Poland, the UK, Germany, Austria, Romania and France, which together accounted for a further 28%.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +66.2%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Slovakia ($X) appeared to be the largest markets for bicycle exported from Hungary worldwide, together comprising 77% of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of +65.4%, recorded 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

In 2021, the average bicycle export price amounted to $X per unit, surging by 62% against the previous year. Overall, the export price, however, showed a abrupt descent. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into Hungary

In 2021, supplies from abroad of bicycles and other cycles was finally on the rise to reach X units after four years of decline. Overall, total imports indicated a prominent expansion from 2013 to 2021: its volume increased at an average annual rate of +7.7% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, bicycle imports surged to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2013 to 2021: its value increased at an average annual rate of +6.9% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Romania (X units), Italy (X units) and Portugal (X units) were the main suppliers of bicycle imports to Hungary, with a combined 44% share of total imports. China, Austria, Serbia, Slovakia, Germany, Taiwan (Chinese), France and Spain lagged somewhat behind, together accounting for a further 48%.

From 2013 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +41.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle suppliers to Hungary were Austria ($X), Romania ($X) and Italy ($X), together comprising 47% of total imports. Portugal, Germany, Serbia, Slovakia, France, Spain, China and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 43%.

China, with a CAGR of +38.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average bicycle import price amounted to $X per unit, surging by 2.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 28%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by France (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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