Hungary: Electronic Metal Tester Market 2024

Electronic Metal Tester Market Size in Hungary

After four years of decline, the Hungarian electronic metal tester market increased by 198% to $X in 2021. In general, consumption enjoyed mild growth. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Electronic Metal Tester Production in Hungary

In value terms, electronic metal tester production contracted rapidly to $X in 2021 estimated in export price. Overall, production showed a precipitous curtailment. Over the period under review, production hit record highs at $X in 2020, and then contracted markedly in the following year.

Electronic Metal Tester Exports

Exports from Hungary

In 2021, after two years of growth, there was significant decline in overseas shipments of electronic machines and appliances for testing metals, when their volume decreased by -64.7% to X units. Over the period under review, exports, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2020 with an increase of 282% against the previous year. As a result, the exports attained the peak of X units, and then dropped remarkably in the following year.

In value terms, electronic metal tester exports shrank significantly to $X in 2021. Overall, exports, however, showed buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 384% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for electronic metal tester exports from Hungary, with a 81% share of total exports. Moreover, electronic metal tester exports to Germany exceeded the volume sent to the second major destination, Moldova (X units), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (0.0% per year) and South Korea (+350.0% per year).

In value terms, Germany ($X) remains the key foreign market for electronic machines and appliances for testing metals exports from Hungary, comprising 74% of total exports. The second position in the ranking was held by China ($X), with an 11% share of total exports. It was followed by South Korea, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+14.1% per year) and South Korea (+567.8% per year).

Export Prices by Country

The average electronic metal tester export price stood at $X per unit in 2021, surging by 140% against the previous year. In general, the export price continues to indicate a remarkable increase. The growth pace was the most rapid in 2013 when the average export price increased by 248%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to Moldova ($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 Italy (+44.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Metal Tester Imports

Imports into Hungary

In 2021, after four years of decline, there was significant growth in purchases abroad of electronic machines and appliances for testing metals, when their volume increased by 15% to X units. In general, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2016 when imports increased by 238%. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, electronic metal tester imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2016 when imports increased by 125% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the UK (X units) constituted the largest supplier of electronic metal tester to Hungary, with a 39% share of total imports. Moreover, electronic metal tester imports from the UK exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Poland (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from the UK totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.7% per year) and Poland (+77.2% per year).

In value terms, the largest electronic metal tester suppliers to Hungary were the UK ($X), the Netherlands ($X) and Germany ($X), together accounting for 68% of total imports. These countries were followed by Poland, China, Switzerland and Italy, which together accounted for a further 26%.

Among the main suppliers, Poland, with a CAGR of +63.9%, 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 2021, the average electronic metal tester import price amounted to $X per unit, growing by 5.4% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electronic metal tester import price increased by +86.1% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 92% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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