Hungary: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Hungary

In 2021, the Hungarian lathe for removing metal market increased by 1% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption showed a pronounced downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Lathes For Removing Metal in Hungary

In value terms, lathe for removing metal production expanded modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 62%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Lathes For Removing Metal

Exports from Hungary

In 2021, approx. X units of lathes for removing metal were exported from Hungary; increasing by 127% on the previous year's figure. In general, exports saw a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 231% against the previous year. Over the period under review, the lafor removing metal exports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, lathe for removing metal exports surged to $X in 2021. Overall, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 112%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Russia (X units), India (X units) and Turkey (X units) were the main destinations of lathe for removing metal exports from Hungary, with a combined 70% share of total exports. Serbia, Germany, Moldova, Egypt, Iraq, Ukraine, Kuwait, Libya and Slovakia lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the biggest increases were recorded for Moldova (with a CAGR of +800.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) emerged as the key foreign market for lathes for removing metal exports from Hungary, comprising 39% of total exports. The second position in the ranking was held by India ($X), with an 8.8% share of total exports. It was followed by Turkey, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia amounted to +37.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+52.4% per year) and Turkey (+46.5% per year).

Export Prices by Country

The average lathe for removing metal export price stood at $X per unit in 2021, reducing by -16.7% against the previous year. Over the period under review, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 124% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a 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 Slovakia ($X per unit), while the average price for exports to Libya ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Moldova (+68.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lathes For Removing Metal

Imports into Hungary

Lathe for removing metal imports into Hungary surged to X units in 2021, picking up by 38% against the year before. Overall, imports, however, showed a slight setback. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, lathe for removing metal imports skyrocketed to $X in 2021. In general, imports, however, saw a deep reduction. The growth pace was the most rapid in 2015 with an increase of 30% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Germany (X units) and Slovakia (X units) were the main suppliers of lathe for removing metal imports to Hungary, together comprising 70% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of lathes for removing metal to Hungary, comprising 37% of total imports. The second position in the ranking was held by Slovakia ($X), with a 9.6% share of total imports. It was followed by Belgium, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+6.3% per year) and Belgium (-4.4% per year).

Import Prices by Country

The average lathe for removing metal import price stood at $X per unit in 2021, reducing by -13.7% against the previous year. Over the period under review, the import price showed a noticeable setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 36% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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