Hungary: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Hungary

The Hungarian ride-on compaction equipment market soared to $X in 2022, surging by 47% against the previous year. In general, consumption saw resilient growth. Ride-on compaction equipment consumption peaked in 2022 and is likely to see steady growth in years to come.

Ride-On Compaction Equipment Production in Hungary

In value terms, ride-on compaction equipment production surged to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 191%. Ride-on compaction equipment production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Ride-On Compaction Equipment Exports

Exports from Hungary

In 2022, overseas shipments of ride-on compaction equipment decreased by -69.4% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports faced a dramatic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 375%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ride-on compaction equipment exports contracted remarkably to $X in 2022. Overall, exports saw a sharp contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 124%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bulgaria (X units), Iraq (X units) and Turkey (X units) were the main destinations of ride-on compaction equipment exports from Hungary, with a combined 55% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ride-on compaction equipment exported from Hungary were Bulgaria ($X), Iraq ($X) and Ecuador ($X), together comprising 60% of total exports. Austria, Turkey, the Netherlands, Montenegro and Serbia lagged somewhat behind, together comprising a further 40%.

Serbia, with a CAGR of +16.7%, recorded the highest rates of growth with regard to 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

In 2022, the average ride-on compaction equipment export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 241% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Serbia ($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 Serbia (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports into Hungary

In 2022, supplies from abroad of ride-on compaction equipment increased by 59% to X units, rising for the sixth consecutive year after two years of decline. In general, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 118%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, ride-on compaction equipment imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 104% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest ride-on compaction equipment supplier to Hungary, accounting for a 61% share of total imports. Moreover, ride-on compaction equipment imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The Czech Republic (X units) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +132.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.6% per year) and the Czech Republic (+17.5% per year).

In value terms, Germany ($X) constituted the largest supplier of ride-on compaction equipment to Hungary, comprising 59% of total imports. The second position in the ranking was taken by Belgium ($X), with a 12% share of total imports. It was followed by the Czech Republic, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+36.7% per year) and the Czech Republic (+11.7% per year).

Import Prices by Country

The average ride-on compaction equipment import price stood at $X per unit in 2022, which is down by -15% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2013 an increase of 31% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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