Hungary: Truck Crane Market 2024

Truck Crane Market Size in Hungary

In 2021, the Hungarian truck crane market decreased by -12.8% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a drastic downturn. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Truck Crane Production in Hungary

In value terms, truck crane production reduced remarkably to $X in 2021 estimated in export price. Overall, production saw a precipitous decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 32%. Truck crane production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Truck Crane Exports

Exports from Hungary

In 2021, approx. X units of truck cranes were exported from Hungary; growing by 24% on the year before. Overall, exports saw a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 772%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, truck crane exports surged to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 156% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Serbia (X units) was the main destination for truck crane exports from Hungary, with a 29% share of total exports. Moreover, truck crane exports to Serbia exceeded the volume sent to the second major destination, Ukraine (X units), sixfold. The third position in this ranking was taken by Romania (X units), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume to Serbia amounted to +76.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+40.3% per year) and Romania (-5.5% per year).

In value terms, Serbia ($X) remains the key foreign market for truck cranes exports from Hungary, comprising 78% of total exports. The second position in the ranking was held by Romania ($X), with an 8.6% share of total exports. It was followed by Egypt, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Serbia totaled +103.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-12.8% per year) and Egypt (+17.8% per year).

Export Prices by Country

The average truck crane export price stood at $X per unit in 2021, surging by 76% against the previous year. In general, the export price, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2015 when the average export price increased by 230%. The export price peaked at $X per unit in 2012; however, from 2013 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 Egypt ($X per unit), while the average price for exports to Ukraine ($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 Austria (+101.4%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Crane Imports

Imports into Hungary

In 2021, imports of truck cranes into Hungary rose significantly to X units, increasing by 11% against the previous year. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 750% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, truck crane imports reduced notably to $X in 2021. Overall, imports saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,385%. Imports peaked at $X in 2020, and then reduced dramatically in the following year.

Imports by Country

Turkey (X units), the Czech Republic (X units) and Germany (X units) were the main suppliers of truck crane imports to Hungary, with a combined 6.7% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +29.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of truck cranes to Hungary, comprising 85% of total imports. The second position in the ranking was held by France ($X), with an 8.1% share of total imports. It was followed by the Netherlands, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +80.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-9.9% per year) and the Netherlands (-21.2% per year).

Import Prices by Country

In 2021, the average truck crane import price amounted to $X per unit, dropping by -40.7% against the previous year. In general, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 101% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a lower figure.

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 Germany ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+39.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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