Hungary: Tap And Valve Market 2024

Tap And Valve Market Size in Hungary

In 2022, the Hungarian tap and valve market increased by 4.8% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, showed a abrupt slump. The growth pace was the most rapid in 2018 when the market value increased by 6.7%. Tap and valve consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Production in Hungary

In value terms, tap and valve production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Tap And Valve Exports

Exports from Hungary

In 2022, the amount of taps, cocks, valves and similar appliances exported from Hungary declined slightly to X tons, with a decrease of -3.8% compared with the previous year's figure. Overall, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.4% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 39%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, tap and valve exports reached $X in 2022. In general, total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 29%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for tap and valve exports from Hungary, with a 53% share of total exports. Moreover, tap and valve exports to Germany exceeded the volume sent to the second major destination, the UK (X tons), more than tenfold. The third position in this ranking was held by France (X tons), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-1.9% per year) and France (+13.9% per year).

In value terms, Germany ($X) remains the key foreign market for taps, cocks, valves and similar appliances exports from Hungary, comprising 47% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 5.4% share of total exports. It was followed by Italy, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+22.8% per year) and Italy (+9.9% per year).

Export Prices by Country

In 2022, the average tap and valve export price amounted to $X per ton, with an increase of 5.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 20% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Hungary

In 2022, the amount of taps, cocks, valves and similar appliances imported into Hungary stood at X tons, stabilizing at the previous year. Overall, imports enjoyed resilient growth. The growth pace was the most rapid in 2014 when imports increased by 29%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, tap and valve imports shrank modestly to $X in 2022. Over the period under review, imports recorded a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 51% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then shrank slightly in the following year.

Imports by Country

Germany (X tons), China (X tons) and Poland (X tons) were the main suppliers of tap and valve imports to Hungary, together comprising 57% of total imports. These countries were followed by Italy, Japan, the Czech Republic, Austria, France, Thailand, Spain, Slovakia and the Netherlands, which together accounted for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +179.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Hungary, comprising 28% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by Thailand, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+24.4% per year) and Thailand (+222.6% per year).

Import Prices by Country

The average tap and valve import price stood at $X per ton in 2022, shrinking by -3.6% against the previous year. Over the period under review, the import price showed a mild contraction. The pace of growth was the most pronounced in 2018 an increase of 20% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Thailand ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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