Hungary: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Hungary

In 2022, the Hungarian air conditioning machine market decreased by -55.7% to $X, falling for the second year in a row after three years of growth. In general, consumption showed a abrupt decline. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Air Conditioning Machine Production in Hungary

In value terms, air conditioning machine production soared to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible descent. Air conditioning machine production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Air Conditioning Machine Exports

Exports from Hungary

In 2022, air conditioning machine exports from Hungary reduced to X units, leveling off at the previous year's figure. The total export volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when exports increased by 17%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, air conditioning machine exports reached $X in 2022. In general, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 35% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for air conditioning machine exports from Hungary, with a 53% share of total exports. Moreover, air conditioning machine exports to Germany exceeded the volume sent to the second major destination, Austria (X units), fourfold. The third position in this ranking was taken by Italy (X units), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+0.2% per year) and Italy (+10.5% per year).

In value terms, Germany ($X) remains the key foreign market for non-window or wall air conditioning machines exports from Hungary, comprising 47% of total exports. The second position in the ranking was held by Austria ($X), with a 13% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+0.6% per year) and Italy (+8.0% per year).

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, rising by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2019 an increase of 22% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to the Netherlands ($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 Germany (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Air Conditioning Machine Imports

Imports into Hungary

In 2022, overseas purchases of non-window or wall air conditioning machines increased by 70% to X units, rising for the fourth consecutive year after three years of decline. In general, imports posted a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, air conditioning machine imports skyrocketed to $X in 2022. Over the period under review, imports showed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, South Korea (X units) constituted the largest supplier of air conditioning machine to Hungary, accounting for a 37% share of total imports. Moreover, air conditioning machine imports from South Korea exceeded the figures recorded by the second-largest supplier, Poland (X units), threefold. Germany (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea stood at +56.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+27.0% per year) and Germany (-5.4% per year).

In value terms, South Korea ($X), Germany ($X) and China ($X) constituted the largest air conditioning machine suppliers to Hungary, together accounting for 72% of total imports.

Among the main suppliers, South Korea, with a CAGR of +61.0%, recorded the highest growth rate of 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

The average air conditioning machine import price stood at $X per unit in 2022, with a decrease of -4.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2021 an increase of 26%. As a result, import price reached the peak level of $X per unit, and then shrank slightly in the following year.

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 Germany ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform