Hungary: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Hungary

The Hungarian hydraulic cylinder and system market skyrocketed to $X in 2022, increasing by 117% against the previous year. Over the period under review, consumption enjoyed a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Hydraulic Cylinders And Systems in Hungary

In value terms, hydraulic cylinder and system production dropped to $X in 2022 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.4% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 44% against the previous year. Hydraulic cylinder and system production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Hungary

In 2022, overseas shipments of hydraulic cylinders and systems decreased by -79.1% to X units, falling for the second year in a row after nine years of growth. In general, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 152% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, hydraulic cylinder and system exports fell significantly to $X in 2022. Over the period under review, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 199%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X units), Germany (X units) and France (X units) were the main destinations of hydraulic cylinder and system exports from Hungary, together accounting for 62% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +109.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydraulic cylinder and system exported from Hungary were France ($X), South Korea ($X) and Germany ($X), with a combined 59% share of total exports.

Among the main countries of destination, France, with a CAGR of +115.3%, saw the highest growth rate of 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 hydraulic cylinder and system export price stood at $X per unit in 2022, with an increase of 28% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decline. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to the Czech Republic ($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 South Korea (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Hungary

In 2022, purchases abroad of hydraulic cylinders and systems increased by 21% to X units, rising for the second consecutive year after two years of decline. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 25%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, hydraulic cylinder and system imports surged to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.0% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 27%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Slovakia (X units), Germany (X units) and Ireland (X units) were the main suppliers of hydraulic cylinder and system imports to Hungary, with a combined 54% share of total imports. Italy, Poland, India, Bulgaria, the United States, Canada, China, the UK, Austria and South Korea lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +88.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hydraulic cylinder and system suppliers to Hungary were Germany ($X), Slovakia ($X) and Ireland ($X), with a combined 53% share of total imports. Italy, Bulgaria, the United States, India, Austria, Poland, the UK, Canada, China and South Korea lagged somewhat behind, together accounting for a further 37%.

In terms of the main suppliers, Canada, with a CAGR of +78.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hydraulic cylinder and system import price stood at $X per unit in 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 18% against the previous year. The import price peaked at $X per unit in 2021, and then shrank in the following year.

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 Poland (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :