Hungary: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Hungary

The Hungarian oil dispensing pump market skyrocketed to $X in 2021, picking up by 539% 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 saw a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Oil Dispensing Pump Exports

Exports from Hungary

In 2021, exports of petrol and oil dispensing pumps from Hungary declined notably to X units, reducing by -83.3% compared with 2020. Overall, exports, however, posted a tangible increase. The most prominent rate of growth was recorded in 2020 with an increase of 300% against the previous year. As a result, the exports attained the peak of X units, and then dropped markedly in the following year.

In value terms, oil dispensing pump exports declined notably to $X in 2021. Over the period under review, exports showed a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 177% against the previous year. As a result, the exports reached the peak of $X, and then declined rapidly in the following year.

Exports by Country

Romania (X units) was the main destination for oil dispensing pump exports from Hungary, accounting for a 81% share of total exports. Moreover, oil dispensing pump exports to Romania exceeded the volume sent to the second major destination, Slovakia (X units), more than tenfold. The third position in this ranking was taken by Austria (X units), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Romania stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+2.9% per year) and Austria (+44.2% per year).

In value terms, Romania ($X) emerged as the key foreign market for petrol and oil dispensing pumps exports from Hungary, comprising 74% of total exports. The second position in the ranking was held by Slovakia ($X), with a 12% share of total exports. It was followed by Austria, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to Romania stood at -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+1.2% per year) and Austria (+49.2% per year).

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, picking up by 105% against the previous year. In general, the export price, however, saw a abrupt curtailment. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Slovakia ($X per unit), while the average price for exports to Moldova ($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 Austria (+3.3%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Hungary

In 2021, approx. X units of petrol and oil dispensing pumps were imported into Hungary; with an increase of 254% against the year before. In general, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump imports surged to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X units) constituted the largest oil dispensing pump supplier to Hungary, with a 61% share of total imports. Moreover, oil dispensing pump imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. The Czech Republic (X units) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +160.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+31.4% per year) and the Czech Republic (+17.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of petrol and oil dispensing pumps to Hungary, comprising 61% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by the Czech Republic, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands totaled +116.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+23.6% per year) and the Czech Republic (-7.7% per year).

Import Prices by Country

The average oil dispensing pump import price stood at $X per unit in 2021, declining by -63.1% against the previous year. Over the period under review, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2016 when the average import price increased by 48% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for China ($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 UK (+13.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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