Hungary: Golf Equipment Market 2024

Golf Equipment Market Size in Hungary

In 2022, the Hungarian golf equipment market decreased by -95.6% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption saw a dramatic downturn. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Golf Equipment Exports

Exports from Hungary

In 2022, exports of golf clubs and other golf equipment from Hungary reduced to X units, declining by -12.5% compared with the year before. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 778% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, golf equipment exports plummeted to $X in 2022. Over the period under review, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by 877% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Romania (X units), Slovakia (X units) and Finland (X units) were the main destinations of golf equipment exports from Hungary, with a combined 48% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +115.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X), Romania ($X) and Serbia ($X) constituted the largest markets for golf equipment exported from Hungary worldwide, together accounting for 55% of total exports. France, the Czech Republic, Finland, Germany, Slovenia, Poland, Italy, Ireland and Lithuania lagged somewhat behind, together accounting for a further 31%.

In terms of the main countries of destination, Finland, with a CAGR of +135.7%, saw 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 golf equipment export price stood at $X per unit in 2022, falling by -14.3% against the previous year. In general, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 an increase of 29%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per unit), while the average price for exports to Slovenia ($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 Finland (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Hungary

In 2022, overseas purchases of golf clubs and other golf equipment decreased by -20.7% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 109%. Imports peaked at X units in 2021, and then fell rapidly in the following year.

In value terms, golf equipment imports shrank notably to $X in 2022. Overall, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by 82% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of golf equipment to Hungary, with a 63% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, Spain (X units), fourfold. Austria (X units) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +57.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+5.8% per year) and Austria (+60.3% per year).

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Hungary, comprising 35% of total imports. The second position in the ranking was held by France ($X), with a 15% share of total imports. It was followed by Belgium, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +43.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.0% per year) and Belgium (-0.1% per year).

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, shrinking by -22.9% against the previous year. In general, the import price showed a deep setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 107% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 France ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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