Hungary: Market for Machine-Tools For Working Any Material By Removal Of Material 2024

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Hungary

The Hungarian machine-tool for removing material market skyrocketed to $X in 2021, picking up by 205% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports from Hungary

In 2021, shipments abroad of machine-tools for working any material by removal of material increased by 47% to X units, rising for the second consecutive year after two years of decline. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 274%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, machine-tool for removing material exports skyrocketed to $X in 2021. In general, exports saw prominent growth. The growth pace was the most rapid in 2017 when exports increased by 195%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for machine-tool for removing material exports from Hungary, accounting for a 47% share of total exports. Moreover, machine-tool for removing material exports to Germany exceeded the volume sent to the second major destination, Serbia (X units), threefold. The third position in this ranking was held by Ukraine (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +64.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+25.4% per year) and Ukraine (+12.3% per year).

In value terms, Germany ($X), Serbia ($X) and Slovakia ($X) were the largest markets for machine-tool for removing material exported from Hungary worldwide, together comprising 60% of total exports.

Slovakia, with a CAGR of +57.9%, saw the highest rates of growth with regard to 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 machine-tool for removing material export price stood at $X per unit in 2021, waning by -15.4% against the previous year. Overall, the export price recorded a pronounced decrease. The growth pace was the most rapid in 2018 when the average export price increased by 41% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while the average price for exports to Ukraine ($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 Mexico (+9.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports into Hungary

Machine-tool for removing material imports into Hungary skyrocketed to X units in 2021, picking up by 230% on the previous year's figure. Overall, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for removing material imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 61%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of machine-tool for removing material to Hungary, accounting for a 87% share of total imports. Moreover, machine-tool for removing material imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The Netherlands (X units) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +77.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+19.7% per year) and the Netherlands (+29.6% per year).

In value terms, Germany ($X), China ($X) and the Netherlands ($X) were the largest machine-tool for removing material suppliers to Hungary, with a combined 67% share of total imports.

China, with a CAGR of +54.5%, saw the highest growth rate of the value of imports, among 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 machine-tool for removing material import price amounted to $X per unit, dropping by -64.8% against the previous year. In general, the import price recorded a sharp downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by 7.5%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-9.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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