Hungary: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Hungary

The Hungarian machine-tool for working metal market surged to $X in 2021, jumping by 165% against the previous year. Overall, consumption continues to indicate noticeable growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Machine Tools For Working Metal in Hungary

In value terms, machine-tool for working metal production reduced to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 165% against the previous year. Machine-tool for working metal production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Machine Tools For Working Metal

Exports from Hungary

In 2021, the amount of machine tools for working metal exported from Hungary skyrocketed to X units, surging by 66% against the previous year. Over the period under review, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 84%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, machine-tool for working metal exports surged to $X in 2021. In general, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -12.2% against 2019 indices. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), the United States (X units) and Germany (X units) were the main destinations of machine-tool for working metal exports from Hungary, with a combined 57% share of total exports. Serbia, Poland, Romania, Slovakia, Denmark, Austria and Belgium lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +82.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and France ($X) were the largest markets for machine-tool for working metal exported from Hungary worldwide, with a combined 57% share of total exports. These countries were followed by Serbia, Poland, Romania, Slovakia, Denmark, Austria and Belgium, which together accounted for a further 21%.

In terms of the main countries of destination, Austria, with a CAGR of +98.6%, recorded 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 machine-tool for working metal export price stood at $X per unit in 2021, which is down by -12.5% against the previous year. Overall, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of 59%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Belgium ($X per unit), while the average price for exports to Denmark ($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 Belgium (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Hungary

In 2021, the amount of machine tools for working metal imported into Hungary skyrocketed to X units, picking up by 184% on the previous year. Over the period under review, imports posted strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. In general, imports, however, saw a noticeable curtailment. The pace of growth was the most pronounced in 2016 with an increase of 104%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X units) constituted the largest supplier of machine-tool for working metal to Hungary, accounting for a 71% share of total imports. Moreover, machine-tool for working metal imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X units), ninefold. Germany (X units) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +166.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.0% per year) and Germany (-18.9% per year).

In value terms, the largest machine-tool for working metal suppliers to Hungary were South Korea ($X), Germany ($X) and Japan ($X), together comprising 57% of total imports.

South Korea, with a CAGR of +125.4%, recorded 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 working metal import price amounted to $X per unit, dropping by -49.7% against the previous year. In general, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 64%. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 Germany (+5.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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