Hungary: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Hungary

In 2021, the Hungarian glass electrical insulator market decreased by -73% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, enjoyed a remarkable increase. As a result, consumption attained the peak level of $X, and then dropped markedly in the following year.

Glass Electrical Insulator Production in Hungary

In value terms, glass electrical insulator production dropped markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 17%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Glass Electrical Insulator Exports

Exports from Hungary

In 2021, the amount of glass electrical insulators exported from Hungary skyrocketed to X units, increasing by 61% against the year before. Overall, exports showed a strong increase. The growth pace was the most rapid in 2016 with an increase of 268%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, glass electrical insulator exports expanded notably to $X in 2021. Over the period under review, exports showed significant growth. The growth pace was the most rapid in 2016 with an increase of 335% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

The Netherlands (X units) was the main destination for glass electrical insulator exports from Hungary, with a 84% share of total exports. Moreover, glass electrical insulator exports to the Netherlands exceeded the volume sent to the second major destination, Italy (X units), more than tenfold. China (X units) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands amounted to +247.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+1.4% per year) and China (0.0% per year).

In value terms, Italy ($X) remains the key foreign market for glass electrical insulators exports from Hungary, comprising 2.8% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 0.7% share of total exports. It was followed by Austria, with a 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy stood at -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-47.9% per year) and Austria (-2.5% per year).

Export Prices by Country

The average glass electrical insulator export price stood at $X per unit in 2021, declining by -34.4% against the previous year. Overall, the export price, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 an increase of 194%. As a result, the export price reached the peak level of $X per unit, and then reduced notably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.1%), while the prices for the other major destinations experienced a decline.

Glass Electrical Insulator Imports

Imports into Hungary

In 2021, supplies from abroad of glass electrical insulators decreased by -66.8% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2017 when imports increased by 472%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, glass electrical insulator imports plummeted to $X in 2021. Overall, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 139%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Ukraine (X units), France (X units) and Spain (X units) were the main suppliers of glass electrical insulator imports to Hungary, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +45.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass electrical insulator suppliers to Hungary were Spain ($X), France ($X) and Ukraine ($X), together accounting for 87% of total imports.

Among the main suppliers, Ukraine, with a CAGR of +40.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average glass electrical insulator import price stood at $X per unit in 2021, with an increase of 73% against the previous year. Over the period under review, the import price, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 an increase of 228% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices failed to regain momentum.

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 Spain ($X per unit), while the price for Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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