Hungary: Milking Machine Market 2024

Milking Machine Market Size in Hungary

In 2022, the Hungarian milking machine market increased by 27% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Milking Machine Production in Hungary

In value terms, milking machine production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Milking Machine Exports

Exports from Hungary

In 2022, shipments abroad of milking machines decreased by 0% to X units, falling for the fourth year in a row after two years of growth. In general, exports showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 16,600%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, milking machine exports stood at $X in 2022. Over the period under review, exports recorded a mild downturn. The pace of growth was the most pronounced in 2014 when exports increased by 17,864%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X units), Oman (X units) and Kazakhstan (X units) were the main destinations of milking machine exports from Hungary, together comprising 99% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +42.0%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Oman ($X) and Kazakhstan ($X) were the largest markets for milking machine exported from Hungary worldwide, with a combined 99.9% share of total exports.

Among the main countries of destination, Oman, with a CAGR of +91.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average milking machine export price stood at $X per unit in 2022, flattening at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 153% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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 Kazakhstan ($X per unit), while the average price for exports to Romania ($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 Oman (+36.9%), while the prices for the other major destinations experienced mixed trend patterns.

Milking Machine Imports

Imports into Hungary

In 2022, overseas purchases of milking machines increased by 345% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, milking machine imports skyrocketed to $X in 2022. In general, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X units), Germany (X units) and the UK (X units) were the main suppliers of milking machine imports to Hungary, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +45.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and the UK ($X) were the largest milking machine suppliers to Hungary, with a combined 100% share of total imports.

The UK, with a CAGR of +113.4%, saw the highest growth rate of 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 2022, the average milking machine import price amounted to $X per unit, surging by 71% against the previous year. In general, the import price recorded a notable increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 151%. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 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 the Netherlands ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+20.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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