Hungary: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Hungary

The Hungarian market for diesel engines (other than for motor vehicles and aircraft) rose slightly to $X in 2022, increasing by 2.6% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Hungary

In value terms, production of diesel engines (other than for motor vehicles and aircraft) dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 40%. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Hungary

Exports of diesel engines (other than for motor vehicles and aircraft) from Hungary reduced sharply to X units in 2022, dropping by -87.1% on the previous year. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 593% against the previous year. Over the period under review, the exports of attained the maximum at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) contracted rapidly to $X in 2022. Overall, exports recorded a sharp contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 3,350% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Ukraine (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Hungary, accounting for a 68% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to Ukraine exceeded the volume sent to the second major destination, Saudi Arabia (X units), fivefold. Croatia (X units) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ukraine amounted to +35.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (0.0% per year) and Croatia (+8.0% per year).

In value terms, the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from Hungary were Ukraine ($X), Slovakia ($X) and Romania ($X), together comprising 92% of total exports.

In terms of the main countries of destination, Ukraine, with a CAGR of +69.3%, recorded the highest growth rate of 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 2022, the average export price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, which is down by -69.9% against the previous year. Over the period under review, the export price faced a abrupt decline. The growth pace was the most rapid in 2019 an increase of 478% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average 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 Slovakia ($X per unit), while the average price for exports to Saudi Arabia ($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 Ukraine (+24.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Hungary

In 2022, approx. X units of diesel engines (other than for motor vehicles and aircraft) were imported into Hungary; jumping by 78% on 2021 figures. Over the period under review, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. Overall, imports recorded prominent growth. The growth pace was the most rapid in 2016 with an increase of 140% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X units), Italy (X units) and Canada (X units) were the main suppliers of imports of diesel engines (other than for motor vehicles and aircraft) to Hungary, with a combined 82% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +429.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and the Netherlands ($X) constituted the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Hungary, with a combined 84% share of total imports. Germany, Canada, the UK and Austria lagged somewhat behind, together accounting for a further 13%.

In terms of the main suppliers, Canada, with a CAGR of +310.8%, recorded the highest growth rate of 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

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, declining by -14.8% against the previous year. In general, the import price, however, showed slight growth. The growth pace was the most rapid in 2016 an increase of 100%. The import price peaked 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 ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :