Hungary: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Hungary

The Hungarian stone polishing machine market skyrocketed to $X in 2022, jumping by 99.9% against the previous year. Over the period under review, consumption showed a perceptible expansion. Stone polishing machine consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Stone Polishing Machine Production in Hungary

In value terms, stone polishing machine production stood at $X in 2022 estimated in export price. In general, production continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by 15%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Stone Polishing Machine Exports

Exports from Hungary

In 2022, approx. X units of grinding or polishing machines for working stone, ceramics and concrete were exported from Hungary; declining by -98% against the previous year's figure. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 1,178%. Over the period under review, the exports hit record highs at X units in 2021, and then reduced rapidly in the following year.

In value terms, stone polishing machine exports reduced markedly to $X in 2022. Overall, exports saw a dramatic descent. The pace of growth appeared the most rapid in 2019 when exports increased by 856% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell markedly in the following year.

Exports by Country

Romania (X units) was the main destination for stone polishing machine exports from Hungary, accounting for a 86% share of total exports. Moreover, stone polishing machine exports to Romania exceeded the volume sent to the second major destination, Turkey (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Romania stood at +29.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and Slovakia (0.0% per year).

In value terms, Romania ($X) emerged as the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Hungary, comprising 80% of total exports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+10.5% per year) and Slovakia (-3.1% per year).

Export Prices by Country

The average stone polishing machine export price stood at $X per unit in 2022, with an increase of 224% against the previous year. Overall, the export price, however, showed a abrupt downturn. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Slovakia ($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 Australia (+20.8%), while the prices for the other major destinations experienced mixed trend patterns.

Stone Polishing Machine Imports

Imports into Hungary

In 2022, imports of grinding or polishing machines for working stone, ceramics and concrete into Hungary contracted remarkably to X units, which is down by -48.5% against the previous year. In general, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 148%. Over the period under review, imports attained the peak figure at X units in 2021, and then dropped markedly in the following year.

In value terms, stone polishing machine imports dropped remarkably to $X in 2022. Overall, imports saw a perceptible setback. The pace of growth was the most pronounced in 2015 when imports increased by 127%. Over the period under review, imports attained the maximum at $X in 2021, and then fell rapidly in the following year.

Imports by Country

South Korea (X units), Italy (X units) and Belgium (X units) were the main suppliers of stone polishing machine imports to Hungary, with a combined 52% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +114.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest stone polishing machine suppliers to Hungary were Italy ($X), Germany ($X) and France ($X), with a combined 72% share of total imports. Sweden, Japan, South Korea, Belgium and Hong Kong SAR lagged somewhat behind, together comprising a further 21%.

Belgium, with a CAGR of +57.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average stone polishing machine import price stood at $X per unit in 2022, dropping by -34% against the previous year. Over the period under review, the import price recorded a drastic downturn. The growth pace was the most rapid in 2015 an increase of 145%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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