Hungary: Machinery Electrical Parts Market 2025

Machinery Electrical Parts Market Size in Hungary

In 2022, the Hungarian machinery electrical parts market increased by 1.3% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, faced a deep setback. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Machinery Electrical Parts Production in Hungary

In value terms, machinery electrical parts production declined to $X in 2022 estimated in export price. In general, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 62%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Machinery Electrical Parts Exports

Exports from Hungary

Machinery electrical parts exports from Hungary shrank dramatically to X tons in 2022, reducing by -34.9% against 2021. Overall, exports, however, recorded a notable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 256% against the previous year. As a result, the exports reached the peak of X tons, and then shrank significantly in the following year.

In value terms, machinery electrical parts exports shrank markedly to $X in 2022. In general, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 126%. The exports peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

Germany (X tons) was the main destination for machinery electrical parts exports from Hungary, with a 58% share of total exports. Moreover, machinery electrical parts exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was held by Belgium (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+26.0% per year) and Belgium (+51.9% per year).

In value terms, Germany ($X) remains the key foreign market for electrical parts of machinery or apparatus exports from Hungary, comprising 35% of total exports. The second position in the ranking was taken by Italy ($X), with a 13% share of total exports. It was followed by the Netherlands, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +21.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+22.8% per year) and the Netherlands (+98.9% per year).

Export Prices by Country

In 2022, the average machinery electrical parts export price amounted to $X per ton, rising by 15% against the previous year. Overall, the export price showed resilient growth. The pace of growth was the most pronounced in 2013 an increase of 65%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, 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 Slovakia ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+22.0%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Hungary

In 2022, approx. X tons of electrical parts of machinery or apparatus were imported into Hungary; reducing by -3.2% compared with the previous year. Overall, imports, however, posted strong growth. The pace of growth was the most pronounced in 2015 when imports increased by 85% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, machinery electrical parts imports dropped to $X in 2022. In general, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 193% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of machinery electrical parts imports to Hungary, with a combined 73% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +50.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Taiwan (Chinese) ($X) appeared to be the largest machinery electrical parts suppliers to Hungary, with a combined 89% share of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +40.4%, 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

The average machinery electrical parts import price stood at $X per ton in 2022, reducing by -2.1% against the previous year. Overall, import price indicated measured growth from 2012 to 2022: its price 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, machinery electrical parts import price decreased by -28.5% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 58%. The import price peaked at $X per ton 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 Taiwan (Chinese) ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :