Hungary: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Hungary

In 2022, after two years of growth, there was significant decline in the Hungarian gearboxes and speed changers market, when its value decreased by X% to $X. In general, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Production of Gearboxes and Speed Changers in Hungary

In value terms, gearboxes and speed changers production expanded markedly to $X in 2022 estimated in export price. In general, production, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Gearboxes and speed changers production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Gearboxes and Speed Changers

Exports from Hungary

In 2022, shipments abroad of gearboxes and speed changers increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports skyrocketed to $X in 2022. In general, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), France (X tons) and the UK (X tons) were the main destinations of gearboxes and speed changers exports from Hungary, with a combined X% share of total exports. Italy, Mexico, the United States, China, the Czech Republic and Austria lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for gearboxes and speed changers exported from Hungary were Germany ($X), France ($X) and the UK ($X), with a combined X% share of total exports. The United States, Mexico, Italy, China, the Czech Republic and Austria lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, 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 gearboxes and speed changers export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to the UK ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Hungary

In 2022, purchases abroad of gearboxes and speed changers increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers imports reached $X in 2022. In general, imports, however, continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest gearboxes and speed changers supplier to Hungary, accounting for a X% share of total imports. Moreover, gearboxes and speed changers imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Poland (X% per year).

In value terms, Germany ($X) constituted the largest supplier of gearboxes and speed changers to Hungary, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

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

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

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 the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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