Hungary: Harvesting Machinery Market 2024

Harvesting Machinery Market Size in Hungary

The Hungarian harvesting machinery market dropped significantly to $X in 2021, which is down by -19.5% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Harvesting machinery consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Harvesting Machinery Production in Hungary

In value terms, harvesting machinery production reduced to $X in 2021 estimated in export price. In general, production, however, saw a slight decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 117%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Harvesting Machinery Exports

Exports from Hungary

Harvesting machinery exports from Hungary declined to X units in 2021, reducing by -12.5% on 2020. In general, exports saw a slight contraction. The pace of growth appeared the most rapid in 2017 with an increase of 129%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, harvesting machinery exports declined significantly to $X in 2021. Over the period under review, exports continue to indicate a perceptible setback. The growth pace was the most rapid in 2017 with an increase of 208% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units), Bulgaria (X units) and Ukraine (X units) were the main destinations of harvesting machinery exports from Hungary, together comprising 71% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of +29.2%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for harvesting machinery exported from Hungary were Bulgaria ($X), Romania ($X) and Ukraine ($X), together accounting for 65% of total exports. Germany, Slovakia, Russia and Serbia lagged somewhat behind, together accounting for a further 31%.

Germany, with a CAGR of +55.5%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average harvesting machinery export price amounted to $X per unit, waning by -50.9% against the previous year. Overall, the export price recorded a mild downturn. The pace of growth appeared the most rapid in 2020 when the average export price increased by 64% against the previous year. As a result, the export price reached the peak level of $X per unit, and then contracted rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Harvesting Machinery Imports

Imports into Hungary

In 2021, approx. X units of root or tuber harvesting machines were imported into Hungary; falling by -42% compared with 2020. Overall, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 164%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, harvesting machinery imports shrank rapidly to $X in 2021. Over the period under review, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of 170%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Poland (X units) constituted the largest supplier of harvesting machinery to Hungary, with a 72% share of total imports. Moreover, harvesting machinery imports from Poland exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. Germany (X units) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland amounted to +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+27.7% per year) and Germany (-2.4% per year).

In value terms, Germany ($X) constituted the largest supplier of root or tuber harvesting machines to Hungary, comprising 48% of total imports. The second position in the ranking was held by Poland ($X), with a 20% share of total imports. It was followed by Italy, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+20.4% per year) and Italy (+21.9% per year).

Import Prices by Country

In 2021, the average harvesting machinery import price amounted to $X per unit, with a decrease of -47.8% against the previous year. In general, the import price recorded a deep downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by 86%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+31.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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