Hungary: Gear Box Market 2025

Gear Box Market Size in Hungary

The Hungarian gear box market declined remarkably to $X in 2022, reducing by -24.3% against the previous year. In general, consumption, however, posted a prominent expansion. Gear box consumption peaked at $X in 2021, and then contracted significantly in the following year.

Gear Box Production in Hungary

In value terms, gear box production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed noticeable growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 58%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Gear Box Exports

Exports from Hungary

In 2022, shipments abroad of gear boxes increased by 30% to X units, rising for the fifth year in a row after two years of decline. Overall, exports showed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 45% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, gear box exports skyrocketed to $X in 2022. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 27%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Slovakia (X units), Germany (X units) and France (X units) were the main destinations of gear box exports from Hungary, with a combined 71% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +102.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gear box exported from Hungary were Slovakia ($X), Germany ($X) and France ($X), together comprising 66% of total exports.

In terms of the main countries of destination, Slovakia, with a CAGR of +87.6%, recorded the highest growth rate of 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

In 2022, the average gear box export price amounted to $X per unit, which is down by -5.6% against the previous year. Over the period under review, the export price showed a pronounced descent. The growth pace was the most rapid in 2016 an increase of 9.7%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Hungary

In 2022, the amount of gear boxes imported into Hungary expanded significantly to X units, rising by 11% on the previous year. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2019 when imports increased by 66% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, gear box imports totaled $X in 2022. Over the period under review, imports saw resilient growth. The pace of growth was the most pronounced in 2019 when imports increased by 78%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest gear box supplier to Hungary, with a 65% share of total imports. Moreover, gear box imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. Poland (X units) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.2% per year) and Poland (+11.9% per year).

In value terms, Germany ($X) constituted the largest supplier of gear boxes to Hungary, comprising 64% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by Poland, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.7% per year) and Poland (+14.8% per year).

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, declining by -8.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 8.7% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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