Hungary: Market for Spray Guns And Similar Appliances 2024

Market Size for Spray Guns And Similar Appliances in Hungary

After two years of decline, the Hungarian market for spray guns and similar appliances increased by 162% to $X in 2022. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Spray Guns And Similar Appliances in Hungary

In value terms, spray guns and similar appliances production contracted to $X in 2022 estimated in export price. Overall, production recorded a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 13%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Spray Guns And Similar Appliances

Exports from Hungary

In 2022, overseas shipments of spray guns and similar appliances decreased by -31.7% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 425%. Over the period under review, the exports attained the maximum at X units in 2021, and then contracted notably in the following year.

In value terms, spray guns and similar appliances exports totaled $X in 2022. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 363% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The Czech Republic (X units), Germany (X units) and Romania (X units) were the main destinations of spray guns and similar appliances exports from Hungary, together accounting for 82% 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 the Czech Republic (with a CAGR of +91.3%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) emerged as the key foreign market for spray guns and similar appliances exports from Hungary, comprising 56% of total exports. The second position in the ranking was taken by Germany ($X), with a 22% share of total exports. It was followed by Romania, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to the Czech Republic stood at +98.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.2% per year) and Romania (+27.0% per year).

Export Prices by Country

In 2022, the average export price for spray guns and similar appliances amounted to $X per unit, surging by 65% against the previous year. Overall, the export price, however, continues to indicate a mild setback. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Sweden ($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 the UK (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spray Guns And Similar Appliances

Imports into Hungary

In 2022, purchases abroad of spray guns and similar appliances increased by 44% to X units, rising for the fourth consecutive year after three years of decline. Over the period under review, imports continue to indicate a modest expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spray guns and similar appliances imports surged to $X in 2022. Overall, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 38%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of spray guns and similar appliances to Hungary, accounting for a 59% share of total imports. Moreover, spray guns and similar appliances imports from Italy exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. Slovenia (X units) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.1% per year) and Slovenia (+31.5% per year).

In value terms, Italy ($X), Germany ($X) and Belgium ($X) appeared to be the largest spray guns and similar appliances suppliers to Hungary, with a combined 65% share of total imports. Slovenia, China, Slovakia, Turkey and the Netherlands lagged somewhat behind, together accounting for a further 21%.

Turkey, with a CAGR of +115.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for spray guns and similar appliances amounted to $X per unit, with a decrease of -14.9% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spray guns and similar appliances import price increased by +1.7% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 31% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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