Hungary: Safes And Strongboxes Market 2024

Safes And Strongboxes Market Size in Hungary

In 2021, the Hungarian safes and strongboxes market increased by 353% to $X, rising for the third consecutive year after four years of decline. Over the period under review, consumption, however, showed a slight decrease. Safes and strongboxes consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Safes And Strongboxes Production in Hungary

In value terms, safes and strongboxes production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 26%. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the near future.

Safes And Strongboxes Exports

Exports from Hungary

After two years of growth, overseas shipments of safes, strongboxes and doors of base metal decreased by -86.7% to X tons in 2021. In general, exports, however, saw a moderate increase. The most prominent rate of growth was recorded in 2014 when exports increased by 225% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then declined sharply in the following year.

In value terms, safes and strongboxes exports contracted notably to $X in 2021. Overall, exports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of 221%. The exports peaked at $X in 2020, and then shrank notably in the following year.

Exports by Country

Sweden (X tons), the Netherlands (X tons) and Portugal (X tons) were the main destinations of safes and strongboxes exports from Hungary, together accounting for 41% 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 Portugal (with a CAGR of +146.6%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Kyrgyzstan ($X) and Sweden ($X) were the largest markets for safes and strongboxes exported from Hungary worldwide, together accounting for 41% of total exports. These countries were followed by Brazil, France, Slovakia, Austria, Serbia, Spain, Portugal, Finland, Denmark and China, which together accounted for a further 34%.

In terms of the main countries of destination, Portugal, with a CAGR of +112.3%, saw the highest rates of growth with regard to the value of exports, 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 safes and strongboxes export price amounted to $X per ton, with an increase of 16% against the previous year. Over the period under review, the export price, however, showed a mild decrease. The most prominent rate of growth was recorded in 2018 an increase of 35% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+8.0%), while the prices for the other major destinations experienced mixed trend patterns.

Safes And Strongboxes Imports

Imports into Hungary

In 2021, supplies from abroad of safes, strongboxes and doors of base metal increased by 158% to X tons, rising for the third year in a row after five years of decline. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 216%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, safes and strongboxes imports soared to $X in 2021. In general, imports, however, continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2019 when imports increased by 159%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest safes and strongboxes supplier to Hungary, with a 88% share of total imports. Moreover, safes and strongboxes imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was taken by Germany (X tons), with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +49.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.1% per year) and Germany (-16.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of safes, strongboxes and doors of base metal to Hungary, comprising 80% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Germany, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-14.4% per year) and Germany (-10.9% per year).

Import Prices by Country

In 2021, the average safes and strongboxes import price amounted to $X per ton, which is down by -10.6% against the previous year. Over the period under review, the import price recorded a slight downturn. The pace of growth was the most pronounced in 2019 an increase of 48%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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