Hungary: Electric Radiator Market 2024

Electric Radiator Market Size in Hungary

In 2022, the Hungarian electric radiator market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption posted a resilient increase. Electric radiator consumption peaked in 2022 and is expected to retain growth in the near future.

Electric Radiator Exports

Exports from Hungary

In 2022, approx. X units of electric radiators and convection heaters were exported from Hungary; which is down by X% against 2021 figures. In general, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric radiator exports dropped rapidly to $X in 2022. Over the period under review, exports, however, posted prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Slovakia (X units), Romania (X units) and the Czech Republic (X units) were the main destinations of electric radiator exports from Hungary, with a combined X% share of total exports. France, Croatia, Serbia and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric radiator exported from Hungary were Slovakia ($X), Romania ($X) and the Czech Republic ($X), with a combined X% share of total exports. Germany, Croatia, France and Serbia lagged somewhat behind, together accounting for a further X%.

France, with a CAGR of X%, saw 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 electric radiator export price stood at $X per unit in 2022, waning by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to France ($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.

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Electric Radiator Imports

Imports into Hungary

In 2022, overseas purchases of electric radiators and convection heaters increased by X% to X units, rising for the third consecutive year after two years of decline. In general, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electric radiator imports totaled $X in 2022. Overall, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest electric radiator supplier to Hungary, accounting for a X% share of total imports. Moreover, electric radiator imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by the Czech Republic (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Czech Republic (X% per year).

In value terms, China ($X), Germany ($X) and Lithuania ($X) appeared to be the largest electric radiator suppliers to Hungary, together comprising X% of total imports.

Among the main suppliers, Lithuania, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average electric radiator import price amounted to $X per unit, approximately reflecting the previous year. In general, import price indicated a tangible increase from 2012 to 2022: its price 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, electric radiator import price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, import price reached the peak level of $X per unit, leveling off in the following year.

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 Lithuania ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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