Hungary: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Hungary

The Hungarian mechanical shovel and excavator market skyrocketed to $X in 2021, picking up by 31% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a buoyant increase. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the near future.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Hungary

In 2021, exports of mechanical shovels, excavators and shovel loaders from Hungary skyrocketed to X units, growing by 43% compared with the year before. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 79%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2021. Over the period under review, exports showed a measured expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X units), Serbia (X units) and Slovakia (X units) were the main destinations of mechanical shovel and excavator exports from Hungary, together accounting for 72% of total exports. These countries were followed by the Czech Republic, Switzerland, Ukraine, Kosovo, Croatia, North Macedonia, Albania, Moldova and Poland, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Albania (with a CAGR of +49.5%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from Hungary, comprising 43% of total exports. The second position in the ranking was taken by Serbia ($X), with a 21% share of total exports. It was followed by Slovakia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Romania totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+27.8% per year) and Slovakia (+0.3% per year).

Export Prices by Country

In 2021, the average mechanical shovel and excavator export price amounted to $X per unit, with an increase of 16% against the previous year. In general, the export price, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2014 an increase of 37% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while the average price for exports to Switzerland ($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 Kosovo (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Hungary

In 2021, approx. X units of mechanical shovels, excavators and shovel loaders were imported into Hungary; jumping by 35% compared with 2020 figures. Over the period under review, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 76%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, mechanical shovel and excavator imports skyrocketed to $X in 2021. In general, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 81%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Austria (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of mechanical shovel and excavator imports to Hungary, together accounting for 37% of total imports. These countries were followed by China, Belgium, the Czech Republic, France, the UK, Slovenia, Slovakia, Italy and Finland, which together accounted for a further 56%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +113.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator suppliers to Hungary were Austria ($X), Belgium ($X) and Germany ($X), together comprising 44% of total imports. These countries were followed by the UK, the Netherlands, the Czech Republic, France, Slovakia, China, Italy, Finland and Slovenia, which together accounted for a further 48%.

China, with a CAGR of +108.1%, saw the highest growth rate of the value of imports, in terms of 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 mechanical shovel and excavator import price amounted to $X per unit, declining by -2.5% against the previous year. Over the period under review, the import price saw a pronounced downturn. The most prominent rate of growth was recorded in 2013 an increase of 9.1%. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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