Hungary: Market for Industrial Automatic Sewing Machines 2024

Market Size for Industrial Automatic Sewing Machines in Hungary

In 2022, after two years of growth, there was significant decline in the Hungarian industrial automatic sewing machine market, when its value decreased by -25% to $X. In general, consumption, however, posted a strong expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then declined remarkably in the following year.

Production of Industrial Automatic Sewing Machines in Hungary

In value terms, industrial automatic sewing machine production reached $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 12% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Industrial Automatic Sewing Machines

Exports from Hungary

In 2022, overseas shipments of industrial automatic sewing machines increased by 24% to X units for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by 1,013%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, industrial automatic sewing machine exports fell rapidly to $X in 2022. Overall, exports, however, continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 266%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units), Tunisia (X units) and Austria (X units) were the main destinations of industrial automatic sewing machine exports from Hungary, with a combined 68% share of total exports. Slovakia, Serbia, Turkey, Mexico and Italy lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +30.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Tunisia ($X) and Serbia ($X) were the largest markets for industrial automatic sewing machine exported from Hungary worldwide, with a combined 78% share of total exports. Slovakia, Turkey, Mexico, Germany and Italy lagged somewhat behind, together accounting for a further 17%.

Among the main countries of destination, Slovakia, with a CAGR of +52.4%, recorded the highest rates of growth with regard to 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 industrial automatic sewing machine export price stood at $X per unit in 2022, shrinking by -64.8% against the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 313%. As a result, the export price attained the peak level of $X per unit, and then contracted dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Germany ($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 Tunisia (+88.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Automatic Sewing Machines

Imports into Hungary

In 2022, the amount of industrial automatic sewing machines imported into Hungary reduced rapidly to X units, which is down by -25.5% compared with the previous year's figure. In general, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2015 when imports increased by 365%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, industrial automatic sewing machine imports shrank rapidly to $X in 2022. Overall, imports showed a pronounced downturn. The pace of growth was the most pronounced in 2015 when imports increased by 413% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X units), Poland (X units) and China (X units) were the main suppliers of industrial automatic sewing machine imports to Hungary, together comprising 86% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +23.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Ukraine ($X) and China ($X) constituted the largest industrial automatic sewing machine suppliers to Hungary, with a combined 74% share of total imports.

Ukraine, with a CAGR of +20.0%, recorded the highest growth rate of the value of imports, among 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 industrial automatic sewing machine import price stood at $X per unit in 2022, falling by -21.2% against the previous year. Over the period under review, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 30% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+43.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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