Hungary: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Hungary

The Hungarian market for machines for preparing, weaving and knitting textiles soared to $X in 2021, growing by 152% against the previous year. In general, consumption showed pronounced growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Machines For Preparing, Weaving And Knitting Textiles in Hungary

In value terms, textile weaving and knitting machinery production expanded sharply to $X in 2021 estimated in export price. Overall, production, however, recorded a deep setback. The pace of growth was the most pronounced in 2018 when the production volume increased by 135% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from Hungary

In 2021, shipments abroad of machines for preparing, weaving and knitting textiles decreased by -77.9% to X units, falling for the second consecutive year after three years of growth. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 457%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, textile weaving and knitting machinery exports fell dramatically to $X in 2021. In general, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 337%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X units), Romania (X units) and Turkey (X units) were the main destinations of textile weaving and knitting machinery exports from Hungary, with a combined 53% share of total exports. Mexico, Germany, Ukraine, Spain, India and Italy lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +284.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for textile weaving and knitting machinery exported from Hungary were Romania ($X), Spain ($X) and Mexico ($X), with a combined 39% share of total exports.

Spain, with a CAGR of +232.8%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average export price for machines for preparing, weaving and knitting textiles amounted to $X per unit, jumping by 50% against the previous year. In general, the export price, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2016 an increase of 515%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Ukraine ($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 Indonesia (+770.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into Hungary

In 2021, imports of machines for preparing, weaving and knitting textiles into Hungary surged to X units, increasing by 107% compared with the previous year's figure. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 251% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, textile weaving and knitting machinery imports skyrocketed to $X in 2021. Over the period under review, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and South Korea (X units) were the main suppliers of textile weaving and knitting machinery imports to Hungary, together comprising 83% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +108.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of machines for preparing, weaving and knitting textiles to Hungary, comprising 75% of total imports. The second position in the ranking was taken by South Korea ($X), with a 6.5% share of total imports. It was followed by China, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+54.8% per year) and China (+65.1% per year).

Import Prices by Country

The average import price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, surging by 323% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained 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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+32.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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