Hungary: Lithium-Ion Accumulator Market 2024

Lithium-Ion Accumulator Market Size in Hungary

The Hungarian lithium-ion accumulator market skyrocketed to $X in 2021, growing by 46% against the previous year. In general, consumption recorded a prominent increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Lithium-Ion Accumulator Production in Hungary

In value terms, lithium-ion accumulator production soared to $X in 2021 estimated in export price. Over the period under review, production enjoyed a significant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Lithium-Ion Accumulator Exports

Exports from Hungary

For the seventh consecutive year, Hungary recorded growth in overseas shipments of lithium-ion accumulators, which increased by 49% to X units in 2021. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 248%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, lithium-ion accumulator exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2015 with an increase of 201%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units), the United States (X units) and the Czech Republic (X units) were the main destinations of lithium-ion accumulator exports from Hungary, together accounting for 78% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +153.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for lithium-ion accumulators exports from Hungary, comprising 39% of total exports. The second position in the ranking was taken by Italy ($X), with an 11% share of total exports. It was followed by the Czech Republic, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +66.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+142.5% per year) and the Czech Republic (+173.3% per year).

Export Prices by Country

In 2021, the average lithium-ion accumulator export price amounted to $X per unit, approximately mirroring the previous year. In general, the export price saw a prominent increase. The growth pace was the most rapid in 2014 when the average export price increased by 78% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to the United States ($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 Italy (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium-Ion Accumulator Imports

Imports into Hungary

In 2021, approx. X units of lithium-ion accumulators were imported into Hungary; growing by 41% on the year before. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 79%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, lithium-ion accumulator imports surged to $X in 2021. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 107% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X units), China (X units) and South Korea (X units) were the main suppliers of lithium-ion accumulator imports to Hungary, together accounting for 78% of total imports. Malaysia and Japan lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +66.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lithium-ion accumulator suppliers to Hungary were China ($X), South Korea ($X) and Malaysia ($X), with a combined 63% share of total imports.

Malaysia, with a CAGR of +63.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lithium-ion accumulator import price amounted to $X per unit, growing by 20% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lithium-ion accumulator import price increased by +84.7% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 27%. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform