Hungary: Test Bench Market 2024

Test Bench Market Size in Hungary

In 2022, after seven years of growth, there was significant decline in the Hungarian test bench market, when its value decreased by -5.8% to $X. Overall, consumption, however, posted buoyant growth. Over the period under review, the market reached the peak level at $X in 2021, and then declined in the following year.

Test Bench Production in Hungary

In value terms, test bench production stood at $X in 2022 estimated in export price. Overall, production, however, showed significant growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 40,728% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Test Bench Exports

Exports from Hungary

In 2022, overseas shipments of test benches increased by 46% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 329% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, test bench exports soared to $X in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 350%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The UK (X units) was the main destination for test bench exports from Hungary, with a 30% share of total exports. Moreover, test bench exports to the UK exceeded the volume sent to the second major destination, Germany (X units), threefold. The United States (X units) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+42.6% per year) and the United States (+17.5% per year).

In value terms, the United States ($X) remains the key foreign market for test benches exports from Hungary, comprising 36% of total exports. The second position in the ranking was taken by Germany ($X), with a 12% share of total exports. It was followed by China, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +108.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+53.4% per year) and China (+37.3% per year).

Export Prices by Country

In 2022, the average test bench export price amounted to $X per unit, declining by -4.9% against the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, test bench export price increased by +56.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 45% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the UK ($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 Czech Republic (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.

Test Bench Imports

Imports into Hungary

In 2022, supplies from abroad of test benches increased by 14% to X units, rising for the second year in a row after three years of decline. Overall, imports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 353% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, test bench imports soared to $X in 2022. In general, imports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2017 with an increase of 393% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of test bench to Hungary, accounting for a 49% share of total imports. Moreover, test bench imports from Germany exceeded the figures recorded by the second-largest supplier, Ukraine (X units), threefold. Italy (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to -17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+22.2% per year) and Italy (+3.0% per year).

In value terms, Germany ($X) constituted the largest supplier of test benches to Hungary, comprising 57% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 15% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+18.4% per year) and South Korea (-3.4% per year).

Import Prices by Country

The average test bench import price stood at $X per unit in 2022, growing by 6.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2013 when the average import price increased by 37%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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