Hungary: Radiator Market 2024

Radiator Market Size in Hungary

In 2022, the Hungarian radiator market increased by 7.2% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +59.2% against 2020 indices. Radiator consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Radiator Production in Hungary

In value terms, radiator production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 32%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Radiator Exports

Exports from Hungary

In 2022, radiator exports from Hungary dropped dramatically to X tons, reducing by -16.4% compared with the previous year's figure. Overall, exports continue to indicate a slight contraction. The pace of growth appeared the most rapid in 2015 with an increase of 16%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, radiator exports shrank to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 11% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Germany (X tons), Austria (X tons) and France (X tons) were the main destinations of radiator exports from Hungary, with a combined 73% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +9.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Austria ($X) and the Czech Republic ($X) were the largest markets for radiator exported from Hungary worldwide, with a combined 71% share of total exports. France, Romania, Slovakia, Croatia and Poland lagged somewhat behind, together accounting for a further 22%.

France, with a CAGR of +8.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average radiator export price stood at $X per ton in 2022, surging by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2020 when the average export price increased by 11%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 Croatia ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Radiator Imports

Imports into Hungary

Radiator imports into Hungary contracted to X tons in 2022, waning by -14.4% against the previous year. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +2.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 32%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, radiator imports reduced to $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 48% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of radiator to Hungary, with a 75% share of total imports. Moreover, radiator imports from Turkey exceeded the figures recorded by the second-largest supplier, Poland (X tons), ninefold. The third position in this ranking was held by Germany (X tons), with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.0% per year) and Germany (+3.6% per year).

In value terms, Turkey ($X) constituted the largest supplier of radiators for central heating (not electrically heated) to Hungary, comprising 62% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by Germany, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+6.7% per year) and Germany (+8.8% per year).

Import Prices by Country

In 2022, the average radiator import price amounted to $X per ton, growing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2021 when the average import price increased by 23%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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