Hungary: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Hungary

The Hungarian grinding and sharpening machine market contracted to $X in 2022, with a decrease of -6.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed a buoyant increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Hungary

In 2022, after four years of growth, there was significant decline in shipments abroad of grinding and sharpening metal finishing machines, when their volume decreased by -35.8% to X units. Overall, exports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2019 with an increase of 103%. The exports peaked at X units in 2021, and then shrank markedly in the following year.

In value terms, grinding and sharpening machine exports contracted significantly to $X in 2022. Over the period under review, exports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 467%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Serbia (X units), Romania (X units) and Croatia (X units) were the main destinations of grinding and sharpening machine exports from Hungary, with a combined 88% share of total exports. Slovenia and the Czech Republic lagged somewhat behind, together comprising a further 8.5%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +47.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X) emerged as the key foreign market for grinding and sharpening metal finishing machines exports from Hungary, comprising 30% of total exports. The second position in the ranking was taken by Romania ($X), with a 14% share of total exports. It was followed by Croatia, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to Serbia totaled +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-8.8% per year) and Croatia (+45.7% per year).

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, reducing by -62.4% against the previous year. In general, the export price showed a abrupt descent. The growth pace was the most rapid in 2013 when the average export price increased by 219% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per unit), while the average price for exports to the Czech Republic ($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 the Netherlands (+117.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Hungary

In 2022, the amount of grinding and sharpening metal finishing machines imported into Hungary shrank to X units, which is down by -7.9% on the previous year. Over the period under review, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 212%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, grinding and sharpening machine imports soared to $X in 2022. In general, imports showed a abrupt slump. The growth pace was the most rapid in 2019 with an increase of 131%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of grinding and sharpening machine to Hungary, with a 77% share of total imports. Moreover, grinding and sharpening machine imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), sevenfold. The Czech Republic (X units) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.3% per year) and the Czech Republic (+39.7% per year).

In value terms, Germany ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Hungary, comprising 58% of total imports. The second position in the ranking was held by China ($X), with a 6.2% share of total imports. It was followed by the Czech Republic, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.0% per year) and the Czech Republic (+44.9% per year).

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, increasing by 50% against the previous year. Over the period under review, the import price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of 194% 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 lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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