Hungary: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Hungary

The Hungarian market for industrial, laboratory or bakery ovens amounted to $X in 2022, growing by 8.8% against the previous year. In general, consumption continues to indicate a prominent increase. Industrial, laboratory or bakery oven consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Industrial, Laboratory or Bakery Ovens in Hungary

In value terms, industrial, laboratory or bakery oven production surged to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2019 with an increase of 282% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports from Hungary

In 2022, overseas shipments of industrial, laboratory or bakery ovens were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 293%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial, laboratory or bakery oven exports expanded modestly to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 798% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for industrial, laboratory or bakery oven exports from Hungary, with a 82% share of total exports. Moreover, industrial, laboratory or bakery oven exports to China exceeded the volume sent to the second major destination, Romania (X units), more than tenfold. Slovakia (X units) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+4.1% per year) and Slovakia (-3.3% per year).

In value terms, China ($X) remains the key foreign market for industrial, laboratory or bakery ovens exports from Hungary, comprising 87% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by Romania, with a 1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+52.0% per year) and Romania (-3.5% per year).

Export Prices by Country

In 2022, the average export price for industrial, laboratory or bakery ovens amounted to $X per unit, waning by -2.4% against the previous year. Overall, the export price, however, showed resilient growth. The most prominent rate of growth was recorded in 2014 an increase of 946% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the Czech Republic ($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 the United States (+36.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial, Laboratory or Bakery Ovens

Imports into Hungary

In 2022, industrial, laboratory or bakery oven imports into Hungary declined to X units, shrinking by -8.4% against the previous year. Overall, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2014 when imports increased by 49% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then fell in the following year.

In value terms, industrial, laboratory or bakery oven imports reached $X in 2022. In general, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 116%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of industrial, laboratory or bakery oven to Hungary, accounting for a 58% share of total imports. Moreover, industrial, laboratory or bakery oven imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Spain (X units), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.4% per year) and Spain (+52.9% per year).

In value terms, the largest industrial, laboratory or bakery oven suppliers to Hungary were Germany ($X), Italy ($X) and China ($X), with a combined 72% share of total imports. The Czech Republic, France, Spain and the Netherlands lagged somewhat behind, together accounting for a further 6.9%.

Among the main suppliers, France, with a CAGR of +97.4%, saw 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 industrial, laboratory or bakery ovens amounted to $X per unit, increasing by 14% against the previous year. In general, the import price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 an increase of 75%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+31.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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