Hungary: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2025

Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in Hungary

In 2021, the Hungarian market for electrical boards, panels, consoles, desks and cabinets decreased by -29.4% to $X, falling for the second consecutive year after three years of growth. Overall, consumption saw a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Production of Electrical Boards, Panels, Consoles, Desks and Cabinets in Hungary

In value terms, electric board, desk and panel production reached $X in 2021 estimated in export price. In general, production showed a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 14% against the previous year. Electric board, desk and panel production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Exports from Hungary

For the third year in a row, Hungary recorded decline in shipments abroad of electrical boards, panels, consoles, desks and cabinets, which decreased by -3.8% to X units in 2021. Overall, exports saw a pronounced downturn. The pace of growth appeared the most rapid in 2018 with an increase of 6.4%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric board, desk and panel exports rose remarkably to $X in 2021. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 23% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for electric board, desk and panel exports from Hungary, with a 36% share of total exports. Moreover, electric board, desk and panel exports to Germany exceeded the volume sent to the second major destination, Italy (X units), twofold. The third position in this ranking was held by France (X units), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-0.2% per year) and France (-9.8% per year).

In value terms, the largest markets for electric board, desk and panel exported from Hungary were Germany ($X), France ($X) and Spain ($X), with a combined 58% share of total exports.

In terms of the main countries of destination, Spain, with a CAGR of +41.3%, saw 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 export price for electrical boards, panels, consoles, desks and cabinets amounted to $X per unit, increasing by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.6%. The pace of growth was the most pronounced in 2014 when the average export price increased by 45%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Greece ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Imports into Hungary

In 2021, purchases abroad of electrical boards, panels, consoles, desks and cabinets decreased by -15.7% to X units, falling for the second year in a row after five years of growth. In general, imports, however, continue to indicate a perceptible expansion. The pace of growth appeared the most rapid in 2019 with an increase of 48%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, electric board, desk and panel imports surged to $X in 2021. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2018 when imports increased by 35%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X units), France (X units) and China (X units) were the main suppliers of electric board, desk and panel imports to Hungary, together comprising 74% of total imports. These countries were followed by Russia, Spain, the Czech Republic, Poland, Turkey, Slovakia, Italy, Belgium and Austria, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +311.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electric board, desk and panel suppliers to Hungary were China ($X), Germany ($X) and France ($X), with a combined 73% share of total imports. These countries were followed by the Czech Republic, Italy, Slovakia, Russia, Poland, Spain, Austria, Belgium and Turkey, which together accounted for a further 20%.

Russia, with a CAGR of +252.9%, saw 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

The average import price for electrical boards, panels, consoles, desks and cabinets stood at $X per unit in 2021, increasing by 43% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electric board, desk and panel import price increased by +96.5% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :