Hungary: Electrical Insulator Market 2024

Electrical Insulator Market Size in Hungary

The Hungarian electrical insulator market shrank to $X in 2022, which is down by -6.9% against the previous year. In general, consumption, however, showed a remarkable increase. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Electrical Insulator Production in Hungary

In value terms, electrical insulator production shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 141%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Electrical Insulator Exports

Exports from Hungary

In 2022, electrical insulator exports from Hungary surged to X units, rising by 45% on the previous year. In general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 52%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, electrical insulator exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed strong growth. The pace of growth was the most pronounced in 2019 with an increase of 69% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X units) was the main destination for electrical insulator exports from Hungary, with a 50% share of total exports. Moreover, electrical insulator exports to Italy exceeded the volume sent to the second major destination, Germany (X units), sevenfold. The third position in this ranking was held by Romania (X units), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy amounted to +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+22.2% per year) and Romania (+18.6% per year).

In value terms, Germany ($X) remains the key foreign market for electrical insulators exports from Hungary, comprising 56% of total exports. The second position in the ranking was held by Italy ($X), with an 11% share of total exports. It was followed by the United States, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+11.5% per year) and the United States (+13.3% per year).

Export Prices by Country

In 2022, the average electrical insulator export price amounted to $X per unit, waning by -18.2% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 124%. The export price peaked at $X per unit in 2014; however, from 2015 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 Germany ($X per unit), while the average price for exports to Morocco ($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 Netherlands (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Insulator Imports

Imports into Hungary

In 2022, the amount of electrical insulators imported into Hungary declined to X units, dropping by -3.2% against the previous year. Over the period under review, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2014 when imports increased by 176%. Over the period under review, imports attained the maximum at X units in 2021, and then fell slightly in the following year.

In value terms, electrical insulator imports contracted to $X in 2022. Overall, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 15% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

France (X units), China (X units) and Germany (X units) were the main suppliers of electrical insulator imports to Hungary, with a combined 84% share of total imports. Slovenia, Spain, Poland and Ukraine lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +64.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Slovenia ($X) and Poland ($X) appeared to be the largest electrical insulator suppliers to Hungary, with a combined 50% share of total imports. France, China, Spain and Ukraine lagged somewhat behind, together comprising a further 13%.

Spain, with a CAGR of +54.3%, saw the highest growth rate of 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 electrical insulator import price stood at $X per unit in 2022, remaining constant against the previous year. Overall, the import price faced a sharp downturn. The most prominent rate of growth was recorded in 2015 when the average import price decreased by -0.5%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for France ($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 (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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