Hungary: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Hungary

The Hungarian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) fell rapidly to $X in 2021, declining by -64.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a significant decline. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Hungary

In 2021, after three years of growth, there was significant decline in shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when their volume decreased by -54.5% to X tons. In general, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 239%. As a result, the exports reached the peak of X tons, and then contracted rapidly in the following year.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) expanded sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 when exports increased by 164%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons), the Czech Republic (X tons) and Lithuania (X tons) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Hungary, together accounting for 54% of total exports. Latvia, Germany, Estonia, Slovakia and Croatia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the biggest increases were recorded for Latvia (with a CAGR of +404.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Lithuania ($X) and the Czech Republic ($X) appeared to be the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Hungary worldwide, together accounting for 59% of total exports. Latvia, Estonia, Slovakia, Germany and Croatia lagged somewhat behind, together comprising a further 26%.

Latvia, with a CAGR of +137.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, picking up by 138% against the previous year. Overall, the export price enjoyed prominent growth. The growth pace was the most rapid in 2014 when the average export price increased by 145%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

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 Estonia ($X per ton), while the average price for exports to Croatia ($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 Romania (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Hungary

Imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) into Hungary contracted significantly to X tons in 2021, which is down by -70.9% compared with 2020 figures. In general, imports recorded a precipitous descent. The pace of growth was the most pronounced in 2013 with an increase of 13%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) dropped dramatically to $X in 2021. Overall, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 28% against the previous year. Over the period under review, imports of attained the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Belgium (X tons), Romania (X tons) and Thailand (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Hungary, together comprising 52% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +237.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Japan ($X) and Belgium ($X) were the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Hungary, with a combined 66% share of total imports.

Thailand, with a CAGR of +244.7%, 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

In 2021, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, increasing by 66% against the previous year. Overall, the import price recorded a resilient increase. 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 Thailand ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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