Hungary: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in Hungary

In 2021, after two years of growth, there was significant decline in the Hungarian market for in-hand motor grinders, sanders and planers, when its value decreased by -62.5% to $X. Over the period under review, consumption saw a pronounced contraction. Consumption of peaked at $X in 2020, and then dropped markedly in the following year.

Production of In-Hand Motor Grinders, Sanders And Planers in Hungary

In value terms, production of in-hand motor grinders, sanders and planers reached $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production of growth remained at a lower figure.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from Hungary

In 2021, shipments abroad of in-hand motor grinders, sanders and planers increased by 44% to X units, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of in-hand motor grinders, sanders and planers skyrocketed to $X in 2021. Overall, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for exports of in-hand motor grinders, sanders and planers from Hungary, with a 68% share of total exports. Moreover, exports of in-hand motor grinders, sanders and planers to Germany exceeded the volume sent to the second major destination, the UK (X units), sixfold. Spain (X units) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+5.0% per year) and Spain (+15.9% per year).

In value terms, Germany ($X) remains the key foreign market for electromechanical tools for working in the hand, with self-contained electric motor exports from Hungary, comprising 71% of total exports. The second position in the ranking was taken by the UK ($X), with an 8.1% share of total exports. It was followed by Spain, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+4.4% per year) and Spain (+17.5% per year).

Export Prices by Country

The average export price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, with an increase of 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2017 an increase of 36%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Russia ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into Hungary

For the third consecutive year, Hungary recorded growth in supplies from abroad of in-hand motor grinders, sanders and planers, which increased by 32% to X units in 2021. Over the period under review, imports saw a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 71% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, imports of in-hand motor grinders, sanders and planers skyrocketed to $X in 2021. In general, imports posted significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 60%. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X units), China (X units) and Malaysia (X units) were the main suppliers of imports of in-hand motor grinders, sanders and planers to Hungary, together comprising 81% of total imports.

From 2012 to 2021, the biggest increases were in Malaysia (with a CAGR of +127.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electromechanical tools for working in the hand, with self-contained electric motor suppliers to Hungary were Germany ($X), Malaysia ($X) and China ($X), together accounting for 70% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +85.8%, saw the highest growth rate of 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

In 2021, the average import price for in-hand motor grinders, sanders and planers amounted to $X per unit, picking up by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2016 an increase of 16% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Poland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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