Hungary: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Hungary

The Hungarian market for pneumatic or hydraulic hand tools skyrocketed to $X in 2021, increasing by 16% against the previous year. Overall, consumption, however, showed a pronounced decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Pneumatic Or Hydraulic Hand Tools in Hungary

In value terms, pneumatic or hydraulic hand tool production contracted slightly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 11% against the previous year. Pneumatic or hydraulic hand tool production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Hungary

In 2021, exports of pneumatic or hydraulic hand tools from Hungary reached X tons, with an increase of 5.2% on the previous year's figure. In general, exports, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2019 with an increase of 50%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, pneumatic or hydraulic hand tool exports surged to $X in 2021. Overall, exports, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2018 when exports increased by 22%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Belgium (X tons) and the UK (X tons) were the main destinations of pneumatic or hydraulic hand tool exports from Hungary, with a combined 70% share of total exports. Romania, Bosnia and Herzegovina, the United States, Slovakia, Croatia, France and Switzerland lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +160.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for pneumatic or hydraulic hand tools exports from Hungary, comprising 81% of total exports. The second position in the ranking was taken by the UK ($X), with a 3.7% share of total exports. It was followed by Germany, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium amounted to -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+72.9% per year) and Germany (+2.9% per year).

Export Prices by Country

The average export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, with an increase of 12% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 32%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 France (+30.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Hungary

Pneumatic or hydraulic hand tool imports into Hungary amounted to X tons in 2021, with an increase of 4.3% against the year before. Over the period under review, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 45% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, pneumatic or hydraulic hand tool imports reached $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 31% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest pneumatic or hydraulic hand tool supplier to Hungary, accounting for a 47% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and Sweden (+8.7% per year).

In value terms, China ($X), Germany ($X) and Sweden ($X) appeared to be the largest pneumatic or hydraulic hand tool suppliers to Hungary, together comprising 71% of total imports. Italy, the United States, the Czech Republic, Slovakia, Austria and Slovenia lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +29.8%, recorded the highest rates of growth with regard to 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 import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, growing by 8.2% against the previous year. Over the period under review, the import price, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 15%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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