Hungary: Steel Railway Material Market 2024

Steel Railway Material Market Size in Hungary

The Hungarian steel railway material market was finally on the rise to reach $X in 2022, after two years of decline. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Steel Railway Material Exports

Exports from Hungary

In 2022, overseas shipments of railway material of steel were finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 801% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, steel railway material exports rose notably to $X in 2022. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 796% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for steel railway material exports from Hungary, accounting for a 98% share of total exports. It was followed by Romania (X tons), with a 1.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +106.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+2.4% per year) and Austria (-43.1% per year).

In value terms, Germany ($X) remains the key foreign market for railway material of steel exports from Hungary, comprising 99% of total exports. The second position in the ranking was taken by Romania ($X), with a 0.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +130.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-2.3% per year) and Austria (-32.1% per year).

Export Prices by Country

The average steel railway material export price stood at $X per ton in 2022, picking up by 3.1% against the previous year. Over the period under review, the export price recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 82%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Romania ($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 Austria (+19.3%), while the prices for the other major destinations experienced mixed trend patterns.

Steel Railway Material Imports

Imports into Hungary

In 2022, after two years of decline, there was significant growth in purchases abroad of railway material of steel, when their volume increased by 81% to X tons. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, steel railway material imports skyrocketed to $X in 2022. In general, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Austria (X tons) constituted the largest steel railway material supplier to Hungary, with a 65% share of total imports. Moreover, steel railway material imports from Austria exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from Austria amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-4.3% per year) and Germany (+5.0% per year).

In value terms, Austria ($X) constituted the largest supplier of railway material of steel to Hungary, comprising 58% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 21% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Austria stood at +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-4.3% per year) and Germany (+3.5% per year).

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, approximately mirroring the previous year. In general, the import price, however, continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of 17% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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