Hungary: Isolating Switch Market 2024

Isolating Switch Market Size in Hungary

The Hungarian isolating switch market rose markedly to $X in 2022, increasing by 12% against the previous year. Overall, consumption posted a resilient expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Isolating Switch Production in Hungary

In value terms, isolating switch production surged to $X in 2022 estimated in export price. Overall, production saw notable growth. The most prominent rate of growth was recorded in 2015 with an increase of 376% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Isolating Switch Exports

Exports from Hungary

In 2022, exports of isolating switches & make-and-break switches from Hungary expanded to X units, with an increase of 3.9% compared with 2021 figures. Overall, exports posted tangible growth. The most prominent rate of growth was recorded in 2019 with an increase of 547%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, isolating switch exports fell to $X in 2022. In general, exports saw a notable expansion. The most prominent rate of growth was recorded in 2019 with an increase of 312%. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped modestly in the following year.

Exports by Country

France (X units), Poland (X units) and Slovakia (X units) were the main destinations of isolating switch exports from Hungary, with a combined 81% share of total exports. Serbia, Romania, Colombia, the Czech Republic and Germany lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +254.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Poland ($X) and Slovakia ($X) were the largest markets for isolating switch exported from Hungary worldwide, with a combined 72% share of total exports. Serbia, Romania, Colombia, the Czech Republic and Germany lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, Serbia, with a CAGR of +299.4%, 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 isolating switch export price stood at $X per unit in 2022, with a decrease of -7.9% against the previous year. Overall, the export price saw a mild decrease. The pace of growth was the most pronounced in 2013 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to France ($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 Turkey (+59.7%), while the prices for the other major destinations experienced more modest paces of growth.

Isolating Switch Imports

Imports into Hungary

In 2022, overseas purchases of isolating switches & make-and-break switches increased by 18% to X units, rising for the second year in a row after two years of decline. Overall, imports recorded a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 213%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, isolating switch imports declined slightly to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 79% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Croatia (X units), Poland (X units) and Bulgaria (X units) were the main suppliers of isolating switch imports to Hungary, together accounting for 79% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of +539.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Croatia ($X), Germany ($X) and Poland ($X) appeared to be the largest isolating switch suppliers to Hungary, with a combined 55% share of total imports.

Croatia, with a CAGR of +456.5%, 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 isolating switch import price stood at $X per unit in 2022, which is down by -16.6% against the previous year. Overall, the import price saw a noticeable slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 49% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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