Hungary: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Hungary

In 2022, the Hungarian machine-tool for drilling market decreased by -23.8% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption continues to indicate a pronounced setback. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Machine-Tool For Drilling Production in Hungary

In value terms, machine-tool for drilling production surged to $X in 2022 estimated in export price. Over the period under review, production, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by 1,508%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Machine-Tool For Drilling Exports

Exports from Hungary

In 2022, shipments abroad of machine-tools for drilling, boring or milling metal decreased by -18.1% to X units, falling for the third consecutive year after two years of growth. Overall, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 186%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, machine-tool for drilling exports reduced notably to $X in 2022. In general, exports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 232%. The exports peaked at $X in 2021, and then reduced dramatically in the following year.

Exports by Country

Germany (X units), Romania (X units) and the Czech Republic (X units) were the main destinations of machine-tool for drilling exports from Hungary, together accounting for 61% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +65.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machine-tool for drilling exported from Hungary were Germany ($X), Serbia ($X) and Italy ($X), together accounting for 36% of total exports. Romania, the Czech Republic, Croatia, Slovakia and Slovenia lagged somewhat behind, together comprising a further 9.6%.

Among the main countries of destination, Romania, with a CAGR of +41.1%, recorded the highest rates of growth with regard to 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

In 2022, the average machine-tool for drilling export price amounted to $X per unit, shrinking by -56.7% against the previous year. Over the period under review, the export price, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 229% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2021, and then declined markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Slovakia ($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 Poland (+42.3%), while the prices for the other major destinations experienced more modest paces of growth.

Machine-Tool For Drilling Imports

Imports into Hungary

In 2022, overseas purchases of machine-tools for drilling, boring or milling metal decreased by -28.5% to X units, falling for the fourth consecutive year after two years of growth. Overall, imports, however, saw a noticeable expansion. The pace of growth was the most pronounced in 2018 with an increase of 117%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, machine-tool for drilling imports fell sharply to $X in 2022. In general, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2013 when imports increased by 120%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machine-tool for drilling to Hungary, with a 60% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Austria (X units) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.1% per year) and Austria (-16.1% per year).

In value terms, the largest machine-tool for drilling suppliers to Hungary were Germany ($X), the Czech Republic ($X) and China ($X), together accounting for 62% of total imports. Austria, Slovakia, the UK and France lagged somewhat behind, together comprising a further 8.6%.

The UK, with a CAGR of +34.5%, saw the highest growth rate of 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 2022, the average machine-tool for drilling import price amounted to $X per unit, with a decrease of -9% against the previous year. Overall, the import price recorded a deep reduction. The pace of growth was the most pronounced in 2013 when the average import price increased by 107% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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 2022, the most notable rate of growth in terms of prices was attained by France (+132.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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