Hungary: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Hungary

For the fifth consecutive year, the Hungarian cranks and crankshafts market recorded growth in sales value, which increased by 2.6% to $X in 2022. In general, consumption, however, recorded a mild reduction. Cranks and crankshafts consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Production in Hungary

In value terms, cranks and crankshafts production reached $X in 2022 estimated in export price. Overall, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.7% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 57%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from Hungary

In 2022, shipments abroad of cranks and crankshafts increased by 3.4% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cranks and crankshafts exports contracted to $X in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 79%. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Germany (X tons), Romania (X tons) and Sweden (X tons) were the main destinations of cranks and crankshafts exports from Hungary, with a combined 49% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +114.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and Poland ($X) constituted the largest markets for cranks and crankshafts exported from Hungary worldwide, together accounting for 55% of total exports.

Sweden, with a CAGR of +116.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cranks and crankshafts export price amounted to $X per ton, falling by -9.9% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cranks and crankshafts export price increased by +60.3% against 2019 indices. The growth pace was the most rapid in 2020 when the average export price increased by 44% against the previous year. The export price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Slovakia ($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 Italy (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Hungary

In 2022, overseas purchases of cranks and crankshafts increased by 18% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 38%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cranks and crankshafts imports declined slightly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of cranks and crankshafts to Hungary, with a 54% share of total imports. Moreover, cranks and crankshafts imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. The third position in this ranking was held by India (X tons), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+9.9% per year) and India (+4.9% per year).

In value terms, Germany ($X) constituted the largest supplier of cranks and crankshafts to Hungary, comprising 56% of total imports. The second position in the ranking was held by Italy ($X), with a 6.4% share of total imports. It was followed by Spain, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.3% per year) and Spain (-4.0% per year).

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, reducing by -17.9% against the previous year. Overall, the import price saw a abrupt decline. The pace of growth appeared the most rapid in 2017 an increase of 17%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 the Czech Republic ($X per ton), while the price for India ($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 (+8.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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