Hungary: Market for Parts Of Harvester And Threshers 2024

Market Size for Parts Of Harvester And Threshers in Hungary

The Hungarian market for parts of harvester and threshers dropped markedly to $X in 2021, waning by -17.4% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Production of Parts Of Harvester And Threshers in Hungary

In value terms, parts of harvester and threshers production rose notably to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 43%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Parts Of Harvester And Threshers

Exports from Hungary

In 2021, overseas shipments of parts of harvester and threshers were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 16% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, parts of harvester and threshers exports surged to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for parts of harvester and threshers exports from Hungary, with a 52% share of total exports. Moreover, parts of harvester and threshers exports to Germany exceeded the volume sent to the second major destination, Russia (X units), sixfold. The third position in this ranking was held by France (X units), with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+5.8% per year) and France (+14.1% per year).

In value terms, Germany ($X) remains the key foreign market for parts of harvester and threshers exports from Hungary, comprising 42% of total exports. The second position in the ranking was held by Russia ($X), with an 8.2% share of total exports. It was followed by France, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+5.0% per year) and France (+21.8% per year).

Export Prices by Country

The average export price for parts of harvester and threshers stood at $X per unit in 2021, rising by 10% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per unit), while the average price for exports to Ireland ($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 France (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Parts Of Harvester And Threshers

Imports into Hungary

In 2021, overseas purchases of parts of harvester and threshers decreased by -7.3% to X units, falling for the third consecutive year after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 25%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, parts of harvester and threshers imports soared to $X in 2021. The total import value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X units), Italy (X units) and China (X units) were the main suppliers of parts of harvester and threshers imports to Hungary, together accounting for 51% of total imports. India, Belgium, Argentina, Austria, Romania, the UK, Poland, the Czech Republic, Turkey and the United States lagged somewhat behind, together comprising a further 43%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +73.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of parts of harvester and threshers to Hungary, comprising 35% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by China, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.0% per year) and China (+21.0% per year).

Import Prices by Country

The average import price for parts of harvester and threshers stood at $X per unit in 2021, jumping by 27% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. As a result, import price reached 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 Germany ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform