Hungary: Market for Mechanical Appliances For Projecting, Dispersing Or Spraying 2024

Market Size for Mechanical Appliances For Projecting, Dispersing Or Spraying in Hungary

The Hungarian market for mechanical appliances for projecting, dispersing or spraying plummeted to $X in 2022, waning by -38.5% against the previous year. Overall, consumption continues to indicate a pronounced slump. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Mechanical Appliances For Projecting, Dispersing Or Spraying in Hungary

In value terms, production of mechanical appliances for projecting, dispersing or spraying reduced to $X in 2022 estimated in export price. Over the period under review, production faced a precipitous contraction. The pace of growth was the most pronounced in 2014 when the production volume increased by 30% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

Exports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Exports from Hungary

After two years of growth, shipments abroad of mechanical appliances for projecting, dispersing or spraying decreased by -15.5% to X units in 2022. In general, exports saw a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 34%. Over the period under review, the exports of attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of mechanical appliances for projecting, dispersing or spraying shrank modestly to $X in 2022. Over the period under review, exports saw a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 35%. Over the period under review, the exports of attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for exports of mechanical appliances for projecting, dispersing or spraying from Hungary, accounting for a 65% share of total exports. Moreover, exports of mechanical appliances for projecting, dispersing or spraying to the United States exceeded the volume sent to the second major destination, Romania (X units), fivefold. The third position in this ranking was held by Germany (X units), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+23.5% per year) and Germany (-10.1% per year).

In value terms, the United States ($X) remains the key foreign market for mechanical appliances for projecting, dispersing or spraying exports from Hungary, comprising 66% of total exports. The second position in the ranking was taken by Germany ($X), with a 17% share of total exports. It was followed by Romania, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.8% per year) and Romania (+18.9% per year).

Export Prices by Country

The average export price for mechanical appliances for projecting, dispersing or spraying stood at $X per unit in 2022, picking up by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2016 an increase of 26%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per unit), while the average price for exports to Romania ($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 Denmark (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Imports into Hungary

In 2022, purchases abroad of mechanical appliances for projecting, dispersing or spraying decreased by -29.2% to X units for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2019 with an increase of 56%. Imports peaked at X units in 2021, and then reduced sharply in the following year.

In value terms, imports of mechanical appliances for projecting, dispersing or spraying shrank markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 27%. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

China (X units), Germany (X units) and South Korea (X units) were the main suppliers of imports of mechanical appliances for projecting, dispersing or spraying to Hungary, with a combined 70% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +133.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and South Korea ($X) were the largest mechanical appliances for projecting, dispersing or spraying suppliers to Hungary, with a combined 58% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +109.1%, saw the highest rates of growth with regard to 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

In 2022, the average import price for mechanical appliances for projecting, dispersing or spraying amounted to $X per unit, increasing by 9.5% against the previous year. Overall, the import price, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 23% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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