Hungary: Domestic Appliances Market 2024

Domestic Appliances Market Size in Hungary

The Hungarian domestic appliances market skyrocketed to $X in 2021, picking up by 44% against the previous year. In general, consumption continues to indicate buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Domestic Appliances Production in Hungary

In value terms, domestic appliances production surged to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt shrinkage. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Domestic Appliances Exports

Exports from Hungary

In 2021, shipments abroad of domestic appliances increased by 1.4% to X units, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 8.8%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, domestic appliances exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 15% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for domestic appliances exports from Hungary, accounting for a 41% share of total exports. Moreover, domestic appliances exports to Germany exceeded the volume sent to the second major destination, Sweden (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+9.4% per year) and Italy (+16.5% per year).

In value terms, Germany ($X) remains the key foreign market for domestic appliances exports from Hungary, comprising 26% of total exports. The second position in the ranking was taken by Italy ($X), with a 9.2% share of total exports. It was followed by the United States, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+11.1% per year) and the United States (+18.8% per year).

Export Prices by Country

In 2021, the average domestic appliances export price amounted to $X per unit, surging by 4.6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 18% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Sweden ($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 the United States (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Appliances Imports

Imports into Hungary

In 2021, the amount of domestic appliances imported into Hungary amounted to X units, with an increase of 2.6% against the previous year. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +107.0% against 2012 indices. The pace of growth appeared the most rapid in 2017 with an increase of 16% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, domestic appliances imports rose markedly to $X in 2021. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 38%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Germany (X units), China (X units) and Ukraine (X units) were the main suppliers of domestic appliances imports to Hungary, together comprising 51% of total imports. These countries were followed by Poland, Slovakia, North Macedonia, Italy, the Czech Republic and Turkey, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by North Macedonia (with a CAGR of +192.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest domestic appliances suppliers to Hungary were Ukraine ($X), Germany ($X) and China ($X), together accounting for 60% of total imports. These countries were followed by Poland, Slovakia, Italy, the Czech Republic, Turkey and North Macedonia, which together accounted for a further 26%.

North Macedonia, with a CAGR of +81.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average domestic appliances import price stood at $X per unit in 2021, rising by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

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 Ukraine ($X per unit), while the price for North Macedonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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