Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary - 2023
Contents:
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary (CIF) - 2022
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary (FOB) - 2023
- Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary
- Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary (CIF) - 2022
The average import price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $39 per unit in 2022, with an increase of 16% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for refrigerating or freezing equipment; parts thereof, other than furniture increased by +41.7% against 2020 indices. The pace of growth was the most pronounced in 2015 an increase of 32% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.
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 Germany ($52 per unit), while the price for Poland ($22 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary (FOB) - 2023
The average export price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $26.6 per unit in November 2023, with an increase of 11% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.3%. The most prominent rate of growth was recorded in July 2023 when the average export price increased by 15% against the previous month. The export price peaked at $27.3 per unit in August 2023; however, from September 2023 to November 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was the UK ($83.4 per unit), while the average price for exports to Austria ($12.8 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary
In 2022, approx. 1.3M units of refrigerating or freezing equipment; parts thereof, other than furniture were imported into Hungary; waning by -41% against 2021. In general, imports showed a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 12%. As a result, imports reached the peak of 2.2M units, and then reduced sharply in the following year.
In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture fell rapidly to $50M in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. As a result, imports attained the peak of $73M, and then declined notably in the following year.
| Import of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 7.0 | 5.8 | 7.3 | 7.8 | 3.7% |
| Italy | 9.0 | 7.4 | 8.6 | 7.1 | -7.6% |
| Czech Republic | 9.3 | 9.4 | 10.4 | 6.0 | -13.6% |
| China | 4.3 | 5.2 | 7.2 | 5.7 | 9.9% |
| Romania | 6.0 | 5.3 | 6.8 | 4.1 | -11.9% |
| Slovakia | 1.0 | 0.7 | 1.5 | 3.5 | 51.8% |
| Poland | 5.2 | 5.3 | 4.4 | 2.9 | -17.7% |
| Austria | 5.8 | 5.5 | 13.5 | 0.8 | -48.3% |
| Others | 11.0 | 8.7 | 13.1 | 12.1 | 3.2% |
| Total | 58.6 | 53.3 | 72.9 | 50.0 | -5.2% |
Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Hungary in 2022:
- Italy (207.8K units)
- China (192.1K units)
- Czech Republic (180.4K units)
- Slovakia (150.8K units)
- Germany (150.6K units)
- Poland (130.8K units)
- Romania (103.2K units)
- Austria (21.7K units)
Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary
In 2022, shipments abroad of refrigerating or freezing equipment; parts thereof, other than furniture decreased by -0.1% to 1.2M units for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +12.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 31% against the previous year. As a result, the exports reached the peak of 1.2M units, leveling off in the following year.
In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture totaled $28M in 2022. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +22.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.5% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 37%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.
| Export of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 3.7 | 7.8 | 10.7 | 11.2 | 44.7% |
| Italy | 5.8 | 5.5 | 7.7 | 8.3 | 12.7% |
| Romania | 0.7 | 0.6 | 0.9 | 1.4 | 26.0% |
| Austria | 0.4 | 0.4 | 0.8 | 0.7 | 20.5% |
| Luxembourg | 0.3 | 0.4 | 0.7 | 0.5 | 18.6% |
| Bulgaria | 0.2 | 0.7 | 1.2 | 0.5 | 35.7% |
| Russia | 0.4 | 0.5 | 0.9 | 0.4 | 0.0% |
| Others | 3.7 | 3.7 | 3.6 | 4.9 | 9.8% |
| Total | 15.2 | 19.4 | 26.6 | 28.0 | 22.6% |
Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Hungary in 2022:
- Italy (503.0K units)
- Germany (425.2K units)
- Romania (68.5K units)
- Austria (43.6K units)
- Bulgaria (42.9K units)
- Russia (34.4K units)
- Luxembourg (18.8K units)
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