Hungary: Non-Electric Pulley Tackle Market 2024

Non-Electric Pulley Tackle Market Size in Hungary

In 2022, the Hungarian non-electric pulley tackle market increased by 2.8% to $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption showed a noticeable setback. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Non-Electric Pulley Tackle Production in Hungary

In value terms, non-electric pulley tackle production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production posted a slight expansion. The pace of growth was the most pronounced in 2016 with an increase of 440% against the previous year. Non-electric pulley tackle production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Non-Electric Pulley Tackle Exports

Exports from Hungary

In 2022, approx. X units of pulley tackle and hoists, non-powered by electric motor were exported from Hungary; with an increase of 17% on the previous year. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 111% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, non-electric pulley tackle exports reduced to $X in 2022. Overall, exports recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 300%. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

Austria (X units) was the main destination for non-electric pulley tackle exports from Hungary, with a 81% share of total exports. Moreover, non-electric pulley tackle exports to Austria exceeded the volume sent to the second major destination, Belgium (X units), ninefold. Germany (X units) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume to Austria amounted to +73.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+4.5% per year) and Germany (-6.9% per year).

In value terms, Austria ($X) remains the key foreign market for pulley tackle and hoists, non-powered by electric motor exports from Hungary, comprising 83% of total exports. The second position in the ranking was held by Belgium ($X), with a 4.5% share of total exports. It was followed by Germany, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria amounted to +69.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+4.9% per year) and Germany (-7.4% per year).

Export Prices by Country

In 2022, the average non-electric pulley tackle export price amounted to $X per unit, declining by -19.9% against the previous year. Overall, the export price recorded a abrupt decline. The growth pace was the most rapid in 2019 an increase of 158% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Belgium ($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 Belgium (+0.3%), while the prices for the other major destinations experienced a decline.

Non-Electric Pulley Tackle Imports

Imports into Hungary

For the third consecutive year, Hungary recorded growth in purchases abroad of pulley tackle and hoists, non-powered by electric motor, which increased by 1.2% to X units in 2022. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 66%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, non-electric pulley tackle imports soared to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 42%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest non-electric pulley tackle supplier to Hungary, accounting for a 47% share of total imports. Moreover, non-electric pulley tackle imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. The third position in this ranking was taken by Sweden (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.5% per year) and Sweden (+154.9% per year).

In value terms, the largest non-electric pulley tackle suppliers to Hungary were Germany ($X), Italy ($X) and China ($X), together comprising 68% of total imports. The UK, Sweden, the Netherlands and Slovenia lagged somewhat behind, together comprising a further 22%.

The UK, with a CAGR of +131.6%, saw the highest rates of growth with regard to the value of imports, in terms of 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 non-electric pulley tackle import price amounted to $X per unit, rising by 29% against the previous year. Overall, the import price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2016 when the average import price increased by 40%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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