Hungary: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Hungary

In 2021, the Hungarian flywheels and pulleys market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.0% against 2017 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Flywheels And Pulleys Exports

Exports from Hungary

In 2021, shipments abroad of flywheels and pulleys increased by 17% to X tons, rising for the fourth consecutive year after three years of decline. In general, exports, however, saw a deep slump. The pace of growth was the most pronounced in 2013 when exports increased by 75%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, flywheels and pulleys exports dropped to $X in 2021. Over the period under review, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 82%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for flywheels and pulleys exports from Hungary, with a 47% share of total exports. Moreover, flywheels and pulleys exports to Germany exceeded the volume sent to the second major destination, Romania (X tons), fourfold. Serbia (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+17.8% per year) and Serbia (+33.2% per year).

In value terms, Germany ($X), Romania ($X) and Austria ($X) were the largest markets for flywheels and pulleys exported from Hungary worldwide, together comprising 60% of total exports. These countries were followed by Serbia, Slovakia, China, Bulgaria, Ukraine, India and Mexico, which together accounted for a further 25%.

India, with a CAGR of +79.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average flywheels and pulleys export price stood at $X per ton in 2021, declining by -18.9% against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 37% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then reduced sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+9.5%), while the prices for the other major destinations experienced mixed trend patterns.

Flywheels And Pulleys Imports

Imports into Hungary

After three years of decline, supplies from abroad of flywheels and pulleys increased by 1.8% to X tons in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 23%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, flywheels and pulleys imports rose significantly to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 20%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest flywheels and pulleys supplier to Hungary, with a 45% share of total imports. Moreover, flywheels and pulleys imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-1.0% per year) and Italy (+24.0% per year).

In value terms, Germany ($X) constituted the largest supplier of flywheels and pulleys to Hungary, comprising 50% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by Italy, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+1.3% per year) and Italy (+7.7% per year).

Import Prices by Country

The average flywheels and pulleys import price stood at $X per ton in 2021, surging by 8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 41% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the near future.

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 France ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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