Hungary: Feedstuff Preparing Machinery Market 2024

Feedstuff Preparing Machinery Market Size in Hungary

The Hungarian feedstuff preparing machinery market reduced sharply to $X in 2021, waning by -72.6% against the previous year. In general, consumption saw a abrupt contraction. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Feedstuff Preparing Machinery Production in Hungary

In value terms, feedstuff preparing machinery production declined rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate significant growth. The growth pace was the most rapid in 2019 with an increase of 5,188%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Feedstuff Preparing Machinery Exports

Exports from Hungary

In 2021, after two years of decline, there was significant growth in shipments abroad of machinery for preparing animal feedstuffs, when their volume increased by 15% to X units. In general, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 21% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, feedstuff preparing machinery exports soared to $X in 2021. Over the period under review, exports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 93% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X units), Germany (X units) and Romania (X units) were the main destinations of feedstuff preparing machinery exports from Hungary, with a combined 94% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +27.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Germany ($X) and Romania ($X) appeared to be the largest markets for feedstuff preparing machinery exported from Hungary worldwide, together accounting for 86% of total exports. These countries were followed by Croatia, which accounted for a further 1.5%.

Croatia, with a CAGR of +56.5%, saw the highest growth rate of 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 feedstuff preparing machinery export price stood at $X per unit in 2021, growing by 13% against the previous year. In general, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, feedstuff preparing machinery export price decreased by -24.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 90% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Croatia ($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 the Netherlands (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Feedstuff Preparing Machinery Imports

Imports into Hungary

After two years of decline, purchases abroad of machinery for preparing animal feedstuffs increased by 54% to X units in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 79% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, feedstuff preparing machinery imports soared to $X in 2021. Overall, imports saw a buoyant expansion. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X units), the Netherlands (X units) and Italy (X units) were the main suppliers of feedstuff preparing machinery imports to Hungary, with a combined 74% share of total imports. These countries were followed by Serbia, France, Romania and Poland, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +45.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest feedstuff preparing machinery suppliers to Hungary were the Netherlands ($X), Germany ($X) and Italy ($X), together accounting for 73% of total imports. These countries were followed by France, Serbia, Romania, Poland and Slovakia, which together accounted for a further 12%.

Serbia, with a CAGR of +42.4%, recorded the highest rates of growth with regard to 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 feedstuff preparing machinery import price amounted to $X per unit, surging by 40% against the previous year. Over the last nine-year period, it increased at an average annual rate of +6.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Slovakia ($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 (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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