Hungary: Market for Domestic, Non-Electric, Cooking Or Heating Appliances 2024

Market Size for Domestic, Non-Electric, Cooking Or Heating Appliances in Hungary

In 2022, the Hungarian market for domestic, non-electric, cooking or heating appliances increased by X% to $X, rising for the third year in a row after four years of decline. In general, consumption showed a strong increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Production of Domestic, Non-Electric, Cooking Or Heating Appliances in Hungary

In value terms, production of domestic, non-electric, cooking or heating appliances reduced remarkably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a sharp curtailment. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production of growth failed to regain momentum.

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Exports of Domestic, Non-Electric, Cooking Or Heating Appliances

Exports from Hungary

In 2022, after three years of growth, there was significant decline in shipments abroad of domestic, non-electric, cooking or heating appliances, when their volume decreased by X% to X units. In general, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then contracted significantly in the following year.

In value terms, exports of domestic, non-electric, cooking or heating appliances contracted rapidly to $X in 2022. Overall, total exports indicated noticeable growth from 2012 to 2022: its value 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. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Romania (X units) was the main destination for exports of domestic, non-electric, cooking or heating appliances from Hungary, accounting for a X% share of total exports. Moreover, exports of domestic, non-electric, cooking or heating appliances to Romania exceeded the volume sent to the second major destination, Greece (X units), threefold. Germany (X units) ranked third in terms of total exports with a X% share.

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

In value terms, Romania ($X), Austria ($X) and Germany ($X) appeared to be the largest markets for domestic, non-electric, cooking or heating appliance exported from Hungary worldwide, with a combined X% share of total exports. Greece, Slovakia, Turkey, Bulgaria and Italy lagged somewhat behind, together accounting for a further X%.

Italy, with a CAGR of X%, saw the highest growth rate of 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 export price for domestic, non-electric, cooking or heating appliances stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the export price, however, saw a mild shrinkage. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Greece ($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 Austria (X%), while the prices for the other major destinations experienced a decline.

Imports of Domestic, Non-Electric, Cooking Or Heating Appliances

Imports into Hungary

In 2022, supplies from abroad of domestic, non-electric, cooking or heating appliances decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports of attained the peak figure at X units in 2021, and then shrank rapidly in the following year.

In value terms, imports of domestic, non-electric, cooking or heating appliances shrank to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value 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, imports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Germany (X units), China (X units) and Slovakia (X units) were the main suppliers of imports of domestic, non-electric, cooking or heating appliances to Hungary.

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

In value terms, China ($X), Germany ($X) and Slovakia ($X) were the largest domestic, non-electric, cooking or heating appliance suppliers to Hungary, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 import price for domestic, non-electric, cooking or heating appliances stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Turkey ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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