Hungary: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Hungary

In 2022, the Hungarian agricultural forestry machinery market decreased by X% to $X, falling for the fifth year in a row after four years of growth. Over the period under review, consumption continues to indicate a deep slump. Agricultural forestry machinery consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Agricultural Forestry Machinery Production in Hungary

In value terms, agricultural forestry machinery production fell sharply to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Agricultural Forestry Machinery Exports

Exports from Hungary

In 2022, approx. X units of agricultural forestry machinery (lawn or sportsground rollers) were exported from Hungary; picking up by X% compared with 2021 figures. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, agricultural forestry machinery exports soared to $X in 2022. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X units) was the main destination for agricultural forestry machinery exports from Hungary, with a X% share of total exports. Moreover, agricultural forestry machinery exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X units), threefold. Russia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Russia (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Romania ($X), with a X% share of total exports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Germany (X% per year).

Export Prices by Country

The average agricultural forestry machinery export price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Serbia ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into Hungary

Agricultural forestry machinery imports into Hungary fell remarkably to X units in 2022, dropping by X% against the year before. Overall, imports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, agricultural forestry machinery imports declined to $X in 2022. Over the period under review, imports continue to indicate a mild reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X units), Germany (X units) and Sweden (X units) were the main suppliers of agricultural forestry machinery imports to Hungary, together accounting for X% of total imports. Poland, the Czech Republic, France, Romania, Turkey, Denmark, Spain, Greece, the Netherlands and Croatia lagged somewhat behind, together accounting for a further X%.

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

In value terms, Italy ($X), Germany ($X) and the Czech Republic ($X) constituted the largest agricultural forestry machinery suppliers to Hungary, together comprising X% of total imports. Sweden, France, Poland, Romania, the Netherlands, Spain, Denmark, Turkey, Greece and Croatia lagged somewhat behind, together comprising a further X%.

Greece, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average agricultural forestry machinery import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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