Hungary: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Hungary

In 2022, after two years of growth, there was significant decline in the Hungarian gym and fitness equipment market, when its value decreased by -38.5% to $X. Over the period under review, consumption, however, showed a resilient increase. Gym and fitness equipment consumption peaked at $X in 2021, and then contracted rapidly in the following year.

Production of Gym and Fitness Equipment in Hungary

In value terms, gym and fitness equipment production shrank slightly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 21%. Gym and fitness equipment production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Gym and Fitness Equipment

Exports from Hungary

In 2022, the amount of gym and fitness equipment exported from Hungary rose remarkably to X tons, picking up by 9.8% compared with 2021 figures. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% 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 +30.5% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 24% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, gym and fitness equipment exports soared to $X in 2022. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +53.3% against 2020 indices. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), the United States (X tons) and the UK (X tons) were the main destinations of gym and fitness equipment exports from Hungary, together accounting for 34% of total exports. Brazil, China, the Netherlands, Australia, Spain, Sweden, Romania, Serbia, Saudi Arabia and Belgium lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +55.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and the UK ($X) constituted the largest markets for gym and fitness equipment exported from Hungary worldwide, with a combined 34% share of total exports. Romania, Brazil, China, the Netherlands, Australia, Saudi Arabia, Spain, Sweden, Belgium and Serbia lagged somewhat behind, together comprising a further 40%.

Serbia, with a CAGR of +41.0%, recorded the highest growth rate of the value of exports, in terms of 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 gym and fitness equipment export price stood at $X per ton in 2022, increasing by 17% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Serbia ($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 Romania (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Hungary

In 2022, after three years of growth, there was significant decline in overseas purchases of gym and fitness equipment, when their volume decreased by -27.7% to X tons. In general, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by 49% against the previous year. As a result, imports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, gym and fitness equipment imports contracted remarkably to $X in 2022. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 54% against the previous year. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest gym and fitness equipment supplier to Hungary, accounting for a 64% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), ninefold. The third position in this ranking was held by Germany (X tons), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+13.1% per year) and Germany (+15.9% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Hungary, comprising 51% of total imports. The second position in the ranking was held by Austria ($X), with a 7.4% share of total imports. It was followed by France, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+9.5% per year) and France (+12.7% per year).

Import Prices by Country

The average gym and fitness equipment import price stood at $X per ton in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 an increase of 19% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 Romania ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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