Hungary: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Hungary

In 2022, the Hungarian industrial sewing machine market decreased by -7.8% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a deep reduction. Industrial sewing machine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Industrial Sewing Machine Production in Hungary

In value terms, industrial sewing machine production reached $X in 2022 estimated in export price. In general, production, however, faced a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 25%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Industrial Sewing Machine Exports

Exports from Hungary

In 2022, shipments abroad of industrial sewing machines decreased by -4.5% to X units, falling for the fourth year in a row after four years of growth. Overall, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 246% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, industrial sewing machine exports reduced markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 170% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for industrial sewing machine exports from Hungary, with a 44% share of total exports. Moreover, industrial sewing machine exports to Germany exceeded the volume sent to the second major destination, Ukraine (X units), threefold. The third position in this ranking was held by Turkey (X units), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+17.0% per year) and Turkey (+63.4% per year).

In value terms, Germany ($X) emerged as the key foreign market for industrial sewing machines exports from Hungary, comprising 30% of total exports. The second position in the ranking was taken by Austria ($X), with a 15% share of total exports. It was followed by Serbia, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-5.1% per year) and Serbia (+27.2% per year).

Export Prices by Country

The average industrial sewing machine export price stood at $X per unit in 2022, which is down by -23.8% against the previous year. Over the period under review, the export price continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2016 an increase of 84% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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 Tunisia ($X per unit), while the average price for exports to Ukraine ($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.

Industrial Sewing Machine Imports

Imports into Hungary

After ten years of growth, purchases abroad of industrial sewing machines decreased by -27.1% to X units in 2022. Over the period under review, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 78%. Over the period under review, imports attained the peak figure at X units in 2021, and then declined markedly in the following year.

In value terms, industrial sewing machine imports contracted to $X in 2022. Overall, imports, however, recorded measured growth. The pace of growth appeared the most rapid in 2015 with an increase of 136%. 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

Poland (X units), Germany (X units) and Switzerland (X units) were the main suppliers of industrial sewing machine imports to Hungary, together comprising 54% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +105.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Poland ($X) appeared to be the largest industrial sewing machine suppliers to Hungary, together accounting for 61% of total imports.

Among the main suppliers, Poland, with a CAGR of +94.2%, recorded 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 industrial sewing machine import price stood at $X per unit in 2022, growing by 17% against the previous year. Over the period under review, the import price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Switzerland ($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 (-5.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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