Hungary: Sugar-Manufacturing Industrial Machinery Market 2024

Sugar-Manufacturing Industrial Machinery Market Size in Hungary

The Hungarian sugar-manufacturing industrial machinery market shrank to $X in 2022, waning by -9.2% against the previous year. Overall, consumption recorded a mild contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Sugar-Manufacturing Industrial Machinery Production in Hungary

In value terms, sugar-manufacturing industrial machinery production fell to $X in 2022 estimated in export price. In general, production saw a perceptible decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by 426% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sugar-Manufacturing Industrial Machinery Exports

Exports from Hungary

In 2022, overseas shipments of industrial machinery for the manufacture or preparation of sugar were finally on the rise to reach X units after three years of decline. Overall, exports, however, showed a relatively flat trend pattern. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, sugar-manufacturing industrial machinery exports rose notably to $X in 2022. Over the period under review, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 46%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for sugar-manufacturing industrial machinery exports from Hungary, accounting for a 70% share of total exports. Moreover, sugar-manufacturing industrial machinery exports to the United States exceeded the volume sent to the second major destination, South Africa (X units), fourfold. The third position in this ranking was held by Turkey (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (0.0% per year) and Turkey (0.0% per year).

In value terms, the United States ($X), South Africa ($X) and Turkey ($X) appeared to be the largest markets for sugar-manufacturing industrial machinery exported from Hungary worldwide, together accounting for 99% of total exports.

Among the main countries of destination, the United States, with a CAGR of 0.0%, saw 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 sugar-manufacturing industrial machinery export price stood at $X per unit in 2022, waning by -85.9% against the previous year. Over the period under review, the export price showed a abrupt shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 174%. The export price peaked at $X per unit in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to the United States ($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 (+7.9%).

Sugar-Manufacturing Industrial Machinery Imports

Imports into Hungary

In 2022, overseas purchases of industrial machinery for the manufacture or preparation of sugar decreased by 0% to X units, falling for the second year in a row after two years of growth. Overall, imports faced a sharp downturn. The pace of growth was the most pronounced in 2015 with an increase of 3,050% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, sugar-manufacturing industrial machinery imports soared to $X in 2022. In general, imports saw a dramatic decline. The pace of growth was the most pronounced in 2015 when imports increased by 9,426%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Poland (X units) was the main supplier of sugar-manufacturing industrial machinery to Hungary, with a 92% share of total imports. Moreover, sugar-manufacturing industrial machinery imports from Poland exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Poland totaled -26.6%.

In value terms, Poland ($X) constituted the largest supplier of industrial machinery for the manufacture or preparation of sugar to Hungary, comprising 91% of total imports. The second position in the ranking was held by China ($X), with a 6.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Poland amounted to -22.8%.

Import Prices by Country

In 2022, the average sugar-manufacturing industrial machinery import price amounted to $X per unit, declining by -15.9% against the previous year. Over the period under review, the import price saw a perceptible descent. The growth pace was the most rapid in 2017 when the average import price increased by 220%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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