Hungary: Dairy Machinery Market 2024

Dairy Machinery Market Size in Hungary

The Hungarian dairy machinery market dropped dramatically to $X in 2022, which is down by -71.3% against the previous year. In general, consumption recorded a abrupt downturn. Dairy machinery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Dairy Machinery Production in Hungary

In value terms, dairy machinery production fell rapidly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 789%. Over the period under review, production reached the peak level at $X in 2021, and then contracted remarkably in the following year.

Dairy Machinery Exports

Exports from Hungary

Dairy machinery exports from Hungary skyrocketed to X units in 2022, growing by 210% compared with 2021 figures. Overall, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 1,315%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy machinery exports soared to $X in 2022. In general, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 1,280% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mongolia (X units) was the main destination for dairy machinery exports from Hungary, accounting for a 69% share of total exports. Moreover, dairy machinery exports to Mongolia exceeded the volume sent to the second major destination, Germany (X units), fourfold. Switzerland (X units) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume to Mongolia stood at +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+50.3% per year) and Switzerland (+115.4% per year).

In value terms, Mongolia ($X) emerged as the key foreign market for dairy machinery exports from Hungary, comprising 77% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.1% share of total exports. It was followed by Switzerland, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value to Mongolia stood at +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+33.3% per year) and Switzerland (+126.8% per year).

Export Prices by Country

The average dairy machinery export price stood at $X per unit in 2022, rising by 42% against the previous year. In general, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Machinery Imports

Imports into Hungary

Dairy machinery imports into Hungary plummeted to X units in 2022, with a decrease of -29% compared with the previous year's figure. Overall, imports, however, enjoyed perceptible growth. The pace of growth appeared the most rapid in 2018 when imports increased by 403%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, dairy machinery imports fell dramatically to $X in 2022. In general, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 358%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of dairy machinery to Hungary, accounting for a 46% share of total imports. Moreover, dairy machinery imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X units), threefold. The third position in this ranking was taken by Portugal (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+42.7% per year) and Portugal (0.0% per year).

In value terms, the largest dairy machinery suppliers to Hungary were Italy ($X), Denmark ($X) and Spain ($X), together comprising 79% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +69.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average dairy machinery import price stood at $X per unit in 2022, picking up by 5.8% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy machinery import price increased by +38.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 31% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for Greece ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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