Hungary: Sewing Machine Furniture Market 2024

Sewing Machine Furniture Market Size in Hungary

The Hungarian sewing machine furniture market stood at $X in 2022, rising by 4.5% against the previous year. In general, consumption recorded significant growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Sewing Machine Furniture Production in Hungary

In value terms, sewing machine furniture production expanded to $X in 2022 estimated in export price. Overall, production continues to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 137% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Sewing Machine Furniture Exports

Exports from Hungary

For the third consecutive year, Hungary recorded decline in overseas shipments of furniture, bases and covers for sewing machines, which decreased by -12.4% to X tons in 2022. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 239%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, sewing machine furniture exports contracted dramatically to $X in 2022. In general, exports, however, posted a tangible expansion. The pace of growth was the most pronounced in 2015 with an increase of 333% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for sewing machine furniture exports from Hungary, accounting for a 75% share of total exports. Moreover, sewing machine furniture exports to Germany exceeded the volume sent to the second major destination, Ukraine (X kg), eightfold. Poland (X kg) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-0.7% per year) and Poland (+59.0% per year).

In value terms, the largest markets for sewing machine furniture exported from Hungary were Ukraine ($X), Germany ($X) and Serbia ($X), together comprising 87% of total exports. Poland lagged somewhat behind, comprising a further 2.1%.

In terms of the main countries of destination, Poland, with a CAGR of +47.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sewing machine furniture export price stood at $X per ton in 2022, falling by -16% against the previous year. In general, the export price, however, posted resilient growth. The pace of growth appeared the most rapid in 2021 an increase of 168%. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Poland ($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 Ukraine (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sewing Machine Furniture Imports

Imports into Hungary

Sewing machine furniture imports into Hungary reached X tons in 2022, approximately reflecting the previous year. Over the period under review, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2015 when imports increased by 111% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sewing machine furniture imports fell to $X in 2022. Overall, imports, however, showed a mild contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Poland (X tons), China (X tons) and Germany (X tons) were the main suppliers of sewing machine furniture imports to Hungary, with a combined 82% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +44.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and China ($X) were the largest sewing machine furniture suppliers to Hungary, with a combined 67% share of total imports.

Among the main suppliers, Poland, with a CAGR of +24.7%, 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 sewing machine furniture import price stood at $X per ton in 2022, dropping by -4.9% against the previous year. Over the period under review, the import price saw a abrupt decrease. The growth pace was the most rapid in 2020 an increase of 9% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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