Hungary: Loading Machinery Market 2024

Loading Machinery Market Size in Hungary

The Hungarian loading machinery market reduced to $X in 2022, waning by -10.8% against the previous year. Overall, consumption saw a mild decline. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Loading Machinery Production in Hungary

In value terms, loading machinery production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 when the production volume increased by 37%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Loading Machinery Exports

Exports from Hungary

Loading machinery exports from Hungary contracted notably to X units in 2022, which is down by -28.5% compared with 2021. Over the period under review, exports showed a slight downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 89% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, loading machinery exports declined sharply to $X in 2022. Overall, exports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 88%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

France (X units), Germany (X units) and the UK (X units) were the main destinations of loading machinery exports from Hungary, with a combined 51% share of total exports. These countries were followed by Australia, Ireland, the Netherlands, Romania, Turkey, Austria, Slovakia, Croatia, Canada and Portugal, which together accounted for a further 39%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +384.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the UK ($X) appeared to be the largest markets for loading machinery exported from Hungary worldwide, with a combined 51% share of total exports. These countries were followed by Australia, Turkey, the Netherlands, Romania, Slovakia, Ireland, Croatia, Portugal, Canada and Austria, which together accounted for a further 35%.

Among the main countries of destination, Ireland, with a CAGR of +455.2%, saw the highest growth rate of 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 loading machinery export price stood at $X per unit in 2022, dropping by -10.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 24%. As a result, the export price reached the peak level of $X per unit, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Austria ($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 Ireland (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Loading Machinery Imports

Imports into Hungary

Loading machinery imports into Hungary amounted to X units in 2022, rising by 11% against the previous year. Over the period under review, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 96% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, loading machinery imports declined to $X in 2022. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 81%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X units), Poland (X units) and Germany (X units) were the main suppliers of loading machinery imports to Hungary, with a combined 47% share of total imports. These countries were followed by France, Finland, Italy, Romania and Belgium, which together accounted for a further 36%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +38.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest loading machinery suppliers to Hungary were the Netherlands ($X), Germany ($X) and France ($X), with a combined 45% share of total imports.

In terms of the main suppliers, France, with a CAGR of +40.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average loading machinery import price amounted to $X per unit, declining by -16.2% against the previous year. In general, the import price showed a pronounced descent. The pace of growth was the most pronounced in 2020 when the average import price increased by 22%. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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