Hungary: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in Hungary

After three years of decline, the Hungarian mounting lifting equipment market increased by 478% to $X in 2021. Over the period under review, consumption, however, saw a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Mounting Lifting Equipment Exports

Exports from Hungary

In 2021, after two years of growth, there was significant decline in shipments abroad of lifting equipment designed for mounting on road vehicles, when their volume decreased by -12.9% to X units. Overall, exports, however, saw a noticeable increase. The pace of growth appeared the most rapid in 2019 with an increase of 121% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2020, and then reduced in the following year.

In value terms, mounting lifting equipment exports surged to $X in 2021. In general, exports showed a mild reduction. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X units) was the main destination for mounting lifting equipment exports from Hungary, with a 55% share of total exports. Moreover, mounting lifting equipment exports to Romania exceeded the volume sent to the second major destination, Slovenia (X units), twofold. Germany (X units) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania stood at +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+76.2% per year) and Germany (0.0% per year).

In value terms, the largest markets for mounting lifting equipment exported from Hungary were Slovenia ($X), Romania ($X) and Germany ($X), with a combined 94% share of total exports.

Slovenia, with a CAGR of +115.6%, recorded the highest growth rate of 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 mounting lifting equipment export price stood at $X per unit in 2021, growing by 193% against the previous year. Over the period under review, the export price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 252% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Slovenia ($X per unit), while the average price for exports to Serbia ($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 the Netherlands (+1,550.8%), while the prices for the other major destinations experienced more modest paces of growth.

Mounting Lifting Equipment Imports

Imports into Hungary

In 2021, supplies from abroad of lifting equipment designed for mounting on road vehicles was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a abrupt slump. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, mounting lifting equipment imports soared to $X in 2021. In general, imports recorded a strong increase. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Austria (X units) constituted the largest mounting lifting equipment supplier to Hungary, with a 45% share of total imports. Moreover, mounting lifting equipment imports from Austria exceeded the figures recorded by the second-largest supplier, Poland (X units), twofold. Denmark (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Austria stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+25.3% per year) and Denmark (+11.2% per year).

In value terms, Austria ($X) constituted the largest supplier of lifting equipment designed for mounting on road vehicles to Hungary, comprising 51% of total imports. The second position in the ranking was taken by Denmark ($X), with a 20% share of total imports. It was followed by Poland, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Austria totaled +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+29.7% per year) and Poland (+45.4% per year).

Import Prices by Country

The average mounting lifting equipment import price stood at $X per unit in 2021, with a decrease of -8.9% against the previous year. In general, the import price, however, showed resilient growth. The growth pace was the most rapid in 2018 when the average import price increased by 130% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2020, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+35.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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