Hungary: Crane Market 2025

Crane Market Size in Hungary

The Hungarian crane market dropped modestly to $X in 2022, shrinking by -4.1% against the previous year. Over the period under review, consumption showed a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crane Production in Hungary

In value terms, crane production contracted to $X in 2022 estimated in export price. In general, production, however, posted a remarkable increase. The growth pace was the most rapid in 2013 when the production volume increased by 279%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Crane Exports

Exports from Hungary

In 2022, overseas shipments of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 14% to X units, rising for the fifth consecutive year after four years of decline. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 93% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, crane exports amounted to $X in 2022. Overall, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +31.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 102%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units), Romania (X units) and Slovenia (X units) were the main destinations of crane exports from Hungary, together comprising 68% of total exports. Croatia, Austria, Denmark, Slovakia and Poland lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +55.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crane exported from Hungary were Romania ($X), Germany ($X) and Slovakia ($X), with a combined 59% share of total exports. Slovenia, Austria, Denmark, Croatia and Poland lagged somewhat behind, together accounting for a further 26%.

Denmark, with a CAGR of +71.9%, saw the highest rates of growth with regard to 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

The average crane export price stood at $X per unit in 2022, waning by -8.5% against the previous year. In general, the export price, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2016 an increase of 456% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while the average price for exports to Slovenia ($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 Slovakia (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Hungary

In 2022, the amount of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane imported into Hungary expanded modestly to X units, picking up by 4.3% on the year before. In general, imports saw significant growth. The growth pace was the most rapid in 2021 when imports increased by 176% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, crane imports expanded rapidly to $X in 2022. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 65% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X units) constituted the largest crane supplier to Hungary, with a 55% share of total imports. Moreover, crane imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X units), fourfold. Italy (X units) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +31.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+24.4% per year) and Italy (+24.7% per year).

In value terms, Germany ($X) constituted the largest supplier of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane to Hungary, comprising 39% of total imports. The second position in the ranking was held by Austria ($X), with an 18% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+18.2% per year) and South Korea (+236.1% per year).

Import Prices by Country

In 2022, the average crane import price amounted to $X per unit, increasing by 4.5% against the previous year. Over the period under review, the import price, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 88%. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 the Netherlands ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+44.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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