Hungary: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Hungary

The Hungarian heat exchange unit market was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -29.0% against 2018 indices. Heat exchange unit consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Heat Exchange Unit Production in Hungary

In value terms, heat exchange unit production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by 14% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Heat Exchange Unit Exports

Exports from Hungary

In 2022, after three years of growth, there was significant decline in shipments abroad of heat exchange units, when their volume decreased by -9.6% to X units. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then shrank in the following year.

In value terms, heat exchange unit exports expanded slightly to $X in 2022. Over the period under review, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for heat exchange unit exports from Hungary, accounting for a 46% share of total exports. Moreover, heat exchange unit exports to Germany exceeded the volume sent to the second major destination, France (X units), sevenfold. The third position in this ranking was taken by the Netherlands (X units), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+30.2% per year) and the Netherlands (+176.3% per year).

In value terms, Germany ($X) remains the key foreign market for heat exchange units exports from Hungary, comprising 40% of total exports. The second position in the ranking was held by France ($X), with a 6.6% share of total exports. It was followed by the Netherlands, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+43.0% per year) and the Netherlands (+158.9% per year).

Export Prices by Country

The average heat exchange unit export price stood at $X per unit in 2022, surging by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Germany ($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 France (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Hungary

In 2022, imports of heat exchange units into Hungary totaled X units, flattening at 2021 figures. Over the period under review, imports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 117%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, heat exchange unit imports declined to $X in 2022. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 119%. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Romania (X units) constituted the largest supplier of heat exchange unit to Hungary, accounting for a 67% share of total imports. Moreover, heat exchange unit imports from Romania exceeded the figures recorded by the second-largest supplier, Austria (X units), tenfold. Italy (X units) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania stood at +61.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+26.5% per year) and Italy (+3.2% per year).

In value terms, Romania ($X) constituted the largest supplier of heat exchange units to Hungary, comprising 58% of total imports. The second position in the ranking was held by Italy ($X), with a 6.6% share of total imports. It was followed by Germany, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from Romania amounted to +67.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.1% per year) and Germany (+4.3% per year).

Import Prices by Country

The average heat exchange unit import price stood at $X per unit in 2022, reducing by -10.6% against the previous year. In general, the import price recorded a mild setback. The pace of growth was the most pronounced in 2021 when the average import price increased by 25% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Germany ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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