Hungary: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Hungary

The Hungarian liquid fuel furnace burner market fell markedly to $X in 2021, dropping by -25.5% against the previous year. Overall, consumption, however, posted a mild expansion. As a result, consumption reached the peak level of $X, and then declined markedly in the following year.

Production of Furnace Burners For Liquid Fuel in Hungary

In value terms, liquid fuel furnace burner production reduced sharply to $X in 2021 estimated in export price. In general, production, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 105% against the previous year. As a result, production reached the peak level of $X, and then reduced markedly in the following year.

Exports of Furnace Burners For Liquid Fuel

Exports from Hungary

In 2021, approx. X tons of furnace burners for liquid fuel were exported from Hungary; with a decrease of -64.2% against 2020. Overall, exports recorded a deep slump. The growth pace was the most rapid in 2016 when exports increased by 218%. Over the period under review, the exports hit record highs at X tons in 2020, and then contracted rapidly in the following year.

In value terms, liquid fuel furnace burner exports shrank rapidly to $X in 2021. In general, exports, however, recorded a moderate increase. The growth pace was the most rapid in 2016 with an increase of 599%. The exports peaked at $X in 2020, and then contracted rapidly in the following year.

Exports by Country

Ukraine (X tons) was the main destination for liquid fuel furnace burner exports from Hungary, with a 90% share of total exports. Moreover, liquid fuel furnace burner exports to Ukraine exceeded the volume sent to the second major destination, Switzerland (X kg), more than tenfold. Bulgaria (X kg) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ukraine stood at +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+27.0% per year) and Bulgaria (-4.9% per year).

In value terms, Ukraine ($X) remains the key foreign market for furnace burners for liquid fuel exports from Hungary, comprising 86% of total exports. The second position in the ranking was taken by Serbia ($X), with a 10% share of total exports. It was followed by Switzerland, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value to Ukraine amounted to +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+13.1% per year) and Switzerland (+35.2% per year).

Export Prices by Country

In 2021, the average liquid fuel furnace burner export price amounted to $X per ton, jumping by 72% against the previous year. Over the period under review, the export price saw a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 120% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Serbia ($X per ton), while the average price for exports to Bulgaria ($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 Belarus (+45.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Furnace Burners For Liquid Fuel

Imports into Hungary

In 2021, supplies from abroad of furnace burners for liquid fuel decreased by -36.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports saw a deep downturn. The pace of growth was the most pronounced in 2019 when imports increased by 367%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, liquid fuel furnace burner imports contracted notably to $X in 2021. Overall, imports saw a mild slump. The growth pace was the most rapid in 2019 with an increase of 250%. Over the period under review, imports hit record highs at $X in 2020, and then reduced markedly in the following year.

Imports by Country

Italy (X tons), Turkey (X tons) and Lithuania (X tons) were the main suppliers of liquid fuel furnace burner imports to Hungary, with a combined 67% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +32.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest liquid fuel furnace burner suppliers to Hungary were Italy ($X), Germany ($X) and Turkey ($X), with a combined 63% share of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +55.6%, recorded the highest rates of growth with regard to 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 liquid fuel furnace burner import price stood at $X per ton in 2021, which is down by -43.9% against the previous year. Overall, the import price, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2014 when the average import price increased by 100% against the previous year. The import price peaked at $X per ton in 2020, and then dropped significantly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+42.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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