Hungary: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Hungary

The Hungarian jacks and hoists market skyrocketed to $X in 2022, rising by 37% 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, however, saw a perceptible decline. Jacks and hoists consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Jacks And Hoists Exports

Exports from Hungary

In 2022, after three years of growth, there was significant decline in overseas shipments of jacks and hoists for raising vehicles, when their volume decreased by -52.7% to X units. Overall, exports faced a deep slump. The pace of growth was the most pronounced in 2021 when exports increased by 74% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, jacks and hoists exports fell remarkably to $X in 2022. In general, exports saw a deep reduction. The pace of growth appeared the most rapid in 2013 when exports increased by 67%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Australia (X units) and the UK (X units) were the main destinations of jacks and hoists exports from Hungary, together comprising 53% of total exports. Malaysia, Romania, Indonesia, the Czech Republic, Chile, Slovakia, Bulgaria, Japan, China and Austria lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +41.2%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) emerged as the key foreign market for jacks and hoists for raising vehicles exports from Hungary, comprising 28% of total exports. The second position in the ranking was taken by Indonesia ($X), with an 11% share of total exports. It was followed by Romania, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia amounted to +32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+45.7% per year) and Romania (+15.4% per year).

Export Prices by Country

In 2022, the average jacks and hoists export price amounted to $X per unit, jumping by 46% against the previous year. Over the period under review, the export price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 when the average export price increased by 158%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Germany ($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 Japan (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Jacks And Hoists Imports

Imports into Hungary

In 2022, after two years of growth, there was significant decline in overseas purchases of jacks and hoists for raising vehicles, when their volume decreased by -6.4% to X units. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 47%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, jacks and hoists imports reduced modestly to $X in 2022. In general, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.0% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 38% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Spain (X units) and Germany (X units) were the main suppliers of jacks and hoists imports to Hungary, with a combined 89% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +146.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest jacks and hoists suppliers to Hungary were China ($X), Germany ($X) and Spain ($X), together accounting for 67% of total imports.

Spain, with a CAGR of +104.9%, saw the highest rates of growth with regard to 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 jacks and hoists import price stood at $X per unit in 2022, rising by 3.3% against the previous year. In general, the import price enjoyed notable growth. The growth pace was the most rapid in 2018 an increase of 26% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+21.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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