Hungary: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Hungary

The Hungarian pressure-reducing iron valve market expanded remarkably to $X in 2022, with an increase of 7.5% against the previous year. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +104.2% against 2018 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Pressure-Reducing Iron Valve Production in Hungary

In value terms, pressure-reducing iron valve production surged to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decline. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Hungary

In 2022, overseas shipments of pressure-reducing, control, check and safety valves increased by 17% to X units, rising for the second consecutive year after two years of decline. Overall, exports recorded a strong increase. The pace of growth appeared the most rapid in 2015 when exports increased by 50% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, pressure-reducing iron valve exports reached $X in 2022. The total export value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 25%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Germany (X units) was the main destination for pressure-reducing iron valve exports from Hungary, accounting for a 90% share of total exports. Moreover, pressure-reducing iron valve exports to Germany exceeded the volume sent to the second major destination, Romania (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +11.0%.

In value terms, Germany ($X) remains the key foreign market for pressure-reducing, control, check and safety valves exports from Hungary, comprising 88% of total exports. The second position in the ranking was taken by Romania ($X), with a 3.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +5.7%.

Export Prices by Country

The average pressure-reducing iron valve export price stood at $X per unit in 2022, waning by -13.8% against the previous year. Overall, the export price saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 18%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Romania totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (-1.2%).

Pressure-Reducing Iron Valve Imports

Imports into Hungary

In 2022, overseas purchases of pressure-reducing, control, check and safety valves increased by 37% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, pressure-reducing iron valve imports surged to $X in 2022. In general, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when imports increased by 78% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

China (X units), Japan (X units) and Germany (X units) were the main suppliers of pressure-reducing iron valve imports to Hungary, with a combined 57% share of total imports. Turkey, Poland, Italy, Thailand, the Czech Republic and Austria lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +167.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pressure-reducing iron valve suppliers to Hungary were Japan ($X), China ($X) and Germany ($X), together accounting for 63% of total imports. Thailand, Austria, Italy, Turkey, the Czech Republic and Poland lagged somewhat behind, together comprising a further 30%.

Thailand, with a CAGR of +152.0%, 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 pressure-reducing iron valve import price amounted to $X per unit, reducing by -6.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 56% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform