Hungary: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Hungary

In 2022, after four years of growth, there was significant decline in the Hungarian personal weighing machine market, when its value decreased by -37.6% to $X. Overall, consumption, however, enjoyed a pronounced increase. Personal weighing machine consumption peaked at $X in 2021, and then reduced markedly in the following year.

Personal Weighing Machine Exports

Exports from Hungary

After two years of growth, overseas shipments of personal weighing machines decreased by -7.9% to X units in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 63% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then fell in the following year.

In value terms, personal weighing machine exports contracted sharply to $X in 2022. Overall, exports recorded a pronounced decline. The pace of growth appeared the most rapid in 2020 when exports increased by 57%. The exports peaked at $X in 2021, and then shrank markedly in the following year.

Exports by Country

Italy (X units) was the main destination for personal weighing machine exports from Hungary, accounting for a 38% share of total exports. Moreover, personal weighing machine exports to Italy exceeded the volume sent to the second major destination, Slovakia (X units), threefold. The third position in this ranking was held by Romania (X units), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+1.5% per year) and Romania (-8.7% per year).

In value terms, the largest markets for personal weighing machine exported from Hungary were Italy ($X), Slovakia ($X) and the Czech Republic ($X), together comprising 43% of total exports. Germany, Romania, France, Poland, Ukraine, Serbia, the Netherlands, Slovenia, Lithuania and Russia lagged somewhat behind, together comprising a further 41%.

In terms of the main countries of destination, France, with a CAGR of +11.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average personal weighing machine export price stood at $X per unit in 2022, declining by -32.1% against the previous year. Overall, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 an increase of 17%. As a result, the export price attained the peak level of $X per unit, and then declined markedly in the following year.

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 the Czech Republic ($X per unit), while the average price for exports to Italy ($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 the Czech Republic (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Personal Weighing Machine Imports

Imports into Hungary

After five years of growth, purchases abroad of personal weighing machines decreased by -36.3% to X units in 2022. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2019 when imports increased by 69%. Imports peaked at X units in 2021, and then dropped notably in the following year.

In value terms, personal weighing machine imports reduced sharply to $X in 2022. Overall, imports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2018 when imports increased by 74%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest personal weighing machine supplier to Hungary, with a 61% share of total imports. Moreover, personal weighing machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by Slovakia (X units), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.6% per year) and Slovakia (+6.1% per year).

In value terms, China ($X), Germany ($X) and Hong Kong SAR ($X) were the largest personal weighing machine suppliers to Hungary, with a combined 72% share of total imports. Slovakia, France, the Czech Republic, Poland and Austria lagged somewhat behind, together accounting for a further 23%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +29.0%, 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

The average personal weighing machine import price stood at $X per unit in 2022, growing by 5.5% against the previous year. Over the period under review, the import price, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2018 when the average import price increased by 31%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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