Hungary: Machinery For Packing Market 2024

Machinery For Packing Market Size in Hungary

The Hungarian machinery for packing market expanded rapidly to $X in 2022, picking up by 11% against the previous year. Over the period under review, consumption, however, showed a perceptible setback. Machinery for packing consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Machinery For Packing Production in Hungary

In value terms, machinery for packing production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 22% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Machinery For Packing Exports

Exports from Hungary

In 2022, the amount of machinery for packing or wrapping exported from Hungary reached X units, surging by 2.4% against 2021 figures. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 19%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, machinery for packing exports rose notably to $X in 2022. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 20% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X units) was the main destination for machinery for packing exports from Hungary, accounting for a 42% share of total exports. Moreover, machinery for packing exports to Germany exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was taken by South Africa (X units), with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+18.4% per year) and South Africa (+15.2% per year).

In value terms, Germany ($X) remains the key foreign market for machinery for packing or wrapping exports from Hungary, comprising 45% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by South Africa, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+29.0% per year) and South Africa (+12.8% per year).

Export Prices by Country

The average machinery for packing export price stood at $X per unit in 2022, rising by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2021 an increase of 23% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to the United States ($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 the United States (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into Hungary

In 2022, imports of machinery for packing or wrapping into Hungary skyrocketed to X units, jumping by 26% against 2021. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 33%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, machinery for packing imports soared to $X in 2022. Over the period under review, imports enjoyed tangible growth. The most prominent rate of growth was recorded in 2016 with an increase of 73% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X units), Spain (X units) and Italy (X units) were the main suppliers of machinery for packing imports to Hungary, together comprising 60% of total imports. Denmark, China, Poland, Turkey and France lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +37.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest machinery for packing suppliers to Hungary were Germany ($X), Spain ($X) and Italy ($X), with a combined 78% share of total imports.

Among the main suppliers, Spain, with a CAGR of +43.1%, recorded the highest growth rate of 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

The average machinery for packing import price stood at $X per unit in 2022, increasing by 5% against the previous year. Over the period under review, the import price, however, recorded a pronounced reduction. The pace of growth appeared the most rapid in 2020 when the average import price increased by 32% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 China (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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