Hungary: Vacuum Vessel Market 2024

Vacuum Vessel Market Size in Hungary

For the fifth consecutive year, the Hungarian vacuum vessel market recorded growth in sales value, which increased by 52% to $X in 2022. In general, consumption posted strong growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the near future.

Vacuum Vessel Exports

Exports from Hungary

For the sixth consecutive year, Hungary recorded growth in overseas shipments of vacuum vessels, which increased by 103% to X units in 2022. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vacuum vessel exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 78% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Romania (X units), Ukraine (X units) and Italy (X units) were the main destinations of vacuum vessel exports from Hungary, with a combined 45% share of total exports. The Czech Republic, Slovakia, Belgium, Croatia, Bulgaria, Serbia, Poland, Austria, Slovenia and Germany lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +76.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vacuum vessel exported from Hungary were Romania ($X), Ukraine ($X) and Italy ($X), together accounting for 41% of total exports. The Czech Republic, Slovakia, Belgium, Poland, Croatia, Bulgaria, Serbia, Austria, Germany and Slovenia lagged somewhat behind, together accounting for a further 45%.

Belgium, with a CAGR of +82.1%, recorded 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 vacuum vessel export price stood at $X per unit in 2022, shrinking by -12.3% against the previous year. Overall, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vacuum vessel export price decreased by -17.2% against 2017 indices. The growth pace was the most rapid in 2014 an increase of 21%. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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 Germany ($X per unit), while the average price for exports to Serbia ($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 Germany (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vacuum Vessel Imports

Imports into Hungary

Vacuum vessel imports into Hungary surged to X units in 2022, jumping by 65% compared with the year before. Over the period under review, imports continue to indicate a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, vacuum vessel imports soared to $X in 2022. In general, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of vacuum vessel to Hungary, accounting for a 49% share of total imports. Moreover, vacuum vessel imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. The third position in this ranking was held by Poland (X units), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+37.7% per year) and Poland (+21.5% per year).

In value terms, China ($X) constituted the largest supplier of vacuum vessels to Hungary, comprising 36% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +30.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.5% per year) and the Netherlands (+38.0% per year).

Import Prices by Country

The average vacuum vessel import price stood at $X per unit in 2022, surging by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 25% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($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 (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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