Hungary: Wire And Cable Market 2024

Wire And Cable Market Size in Hungary

In 2021, the Hungarian wire and cable market decreased by -93.9% to $X, falling for the third consecutive year after two years of growth. Overall, consumption saw a abrupt descent. Wire and cable consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Wire And Cable Production in Hungary

In value terms, wire and cable production declined dramatically to $X in 2021 estimated in export price. Overall, production continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 15%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Wire And Cable Exports

Exports from Hungary

Wire and cable exports from Hungary rose remarkably to X tons in 2021, surging by 10% on 2020 figures. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wire and cable exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for wire and cable exports from Hungary, accounting for a 29% share of total exports. Moreover, wire and cable exports to Germany exceeded the volume sent to the second major destination, Austria (X tons), threefold. The third position in this ranking was taken by Ukraine (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-0.1% per year) and Ukraine (+2.6% per year).

In value terms, Germany ($X) remains the key foreign market for insulated wire and cable exports from Hungary, comprising 36% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 7.8% share of total exports. It was followed by Austria, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+4.6% per year) and Austria (-0.7% per year).

Export Prices by Country

In 2021, the average wire and cable export price amounted to $X per ton, picking up by 9.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Hungary

For the third consecutive year, Hungary recorded growth in supplies from abroad of insulated wire and cable, which increased by 9.8% to X tons in 2021. The total import volume increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 13%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, wire and cable imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Austria (X tons) and Romania (X tons) were the main suppliers of wire and cable imports to Hungary, together accounting for 39% of total imports. China, North Macedonia, Serbia, Poland, Ukraine, Slovakia, Italy, the Czech Republic and Tunisia lagged somewhat behind, together comprising a further 48%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by North Macedonia (with a CAGR of +391.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable suppliers to Hungary were Germany ($X), Serbia ($X) and North Macedonia ($X), together comprising 35% of total imports.

North Macedonia, with a CAGR of +308.4%, saw 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 wire and cable import price stood at $X per ton in 2021, picking up by 11% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Tunisia ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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