Hungary: Roller Bearing Market 2024

Roller Bearing Market Size in Hungary

In 2022, the Hungarian roller bearing market decreased by -29.4% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption recorded a abrupt descent. Hungary consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Roller Bearing Exports

Exports from Hungary

In 2022, the amount of roller bearings exported from Hungary skyrocketed to X tons, growing by 85% on 2021 figures. Overall, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 156%. The Hungary exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, roller bearing exports reduced to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 137% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the major exporting country with an export of around X tons, which accounted for 43% of total exports. Singapore (X tons) held the second position in the ranking, followed by Germany (X tons), France (X tons), Slovakia (X tons) and the United States (X tons). All these countries together took near 30% share of total exports. The following exporters - Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) - together made up 14% of total exports.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) were the countries with the highest levels of exports in 2022, with a combined 45% share of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together comprising a further 31%.

Indonesia, with a CAGR of +16.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Hungary amounted to $X per ton, reducing by -46.4% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 50%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Hungary

Roller bearing imports into Hungary fell remarkably to X tons in 2022, shrinking by -33.9% compared with 2021 figures. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 18%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, roller bearing imports declined to $X in 2022. In general, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 32% of total imports in 2022. It was distantly followed by Germany (X tons), generating a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Hungary were Indonesia ($X), Germany ($X) and India ($X), together accounting for 24% of total imports.

Indonesia, with a CAGR of +4.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Hungary amounted to $X per ton, rising by 31% against the previous year. In general, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, roller bearing import price increased by +61.2% against 2020 indices. The pace of growth was the most pronounced in 2013 when the import price increased by 68% against the previous year. Hungary 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 importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($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 (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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