Hungary: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Hungary

In 2021, after four years of growth, there was significant decline in the Hungarian household sewing machine market, when its value decreased by -16% to $X. Over the period under review, consumption, however, recorded buoyant growth. Household sewing machine consumption peaked at $X in 2020, and then dropped rapidly in the following year.

Household Sewing Machine Exports

Exports from Hungary

In 2021, overseas shipments of household sewing machines decreased by -59% to X units, falling for the second year in a row after three years of growth. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2014 with an increase of 1,922%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, household sewing machine exports declined significantly to $X in 2021. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 831% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X units) was the main destination for household sewing machine exports from Hungary, with a 72% share of total exports. Moreover, household sewing machine exports to Romania exceeded the volume sent to the second major destination, Slovakia (X units), sixfold. The Czech Republic (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +139.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+38.0% per year) and the Czech Republic (+119.6% per year).

In value terms, Romania ($X), Slovakia ($X) and the Czech Republic ($X) appeared to be the largest markets for household sewing machine exported from Hungary worldwide, together accounting for 83% of total exports.

Romania, with a CAGR of +80.7%, 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

The average household sewing machine export price stood at $X per unit in 2021, waning by -13.1% against the previous year. Over the period under review, the export price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by 99%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Iraq ($X per unit), while the average price for exports to Romania ($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 Iraq (+14.2%), while the prices for the other major destinations experienced a decline.

Household Sewing Machine Imports

Imports into Hungary

In 2021, after four years of growth, there was significant decline in supplies from abroad of household sewing machines, when their volume decreased by -33.5% to X units. Over the period under review, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 356% against the previous year. Imports peaked at X units in 2020, and then declined significantly in the following year.

In value terms, household sewing machine imports declined markedly to $X in 2021. In general, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 207%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Germany (X units) and the Czech Republic (X units) were the main suppliers of household sewing machine imports to Hungary, together comprising 88% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +106.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest household sewing machine suppliers to Hungary were Germany ($X), China ($X) and Poland ($X), with a combined 74% share of total imports. These countries were followed by the Czech Republic, Slovakia, France, Austria and Slovenia, which together accounted for a further 20%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +110.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average household sewing machine import price stood at $X per unit in 2021, with an increase of 13% against the previous year. Overall, the import price, however, showed a abrupt downturn. The growth pace was the most rapid in 2015 an increase of 78%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :