Hungary: Market for Electro-Thermic Appliances Or Domestic Purposes 2022

Market Size for Electro-Thermic Appliances Or Domestic Purposes in Hungary

The Hungarian market for electro-thermic appliances or domestic purposes declined rapidly to $X in 2021, dropping by -71% against the previous year. In general, consumption saw a abrupt decline. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Electro-Thermic Appliances Or Domestic Purposes in Hungary

In value terms, electro-thermic appliances or domestic purposes production expanded slightly to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt setback. Electro-thermic appliances or domestic purposes production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Electro-Thermic Appliances Or Domestic Purposes

Exports from Hungary

In 2021, overseas shipments of electro-thermic appliances or domestic purposes increased by 47% to X units, rising for the third year in a row after two years of decline. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 61%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, electro-thermic appliances or domestic purposes exports declined to $X in 2021. Over the period under review, exports saw a strong increase. The growth pace was the most rapid in 2016 with an increase of 30% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then dropped in the following year.

Exports by Country

Belgium (X units) was the main destination for electro-thermic appliances or domestic purposes exports from Hungary, with a 46% share of total exports. Moreover, electro-thermic appliances or domestic purposes exports to Belgium exceeded the volume sent to the second major destination, the UK (X units), fourfold. Slovakia (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium stood at +77.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+34.9% per year) and Slovakia (+33.1% per year).

In value terms, Belgium ($X) remains the key foreign market for electro-thermic appliances or domestic purposes exports from Hungary, comprising 50% of total exports. The second position in the ranking was held by Slovakia ($X), with a 9.8% share of total exports. It was followed by the UK, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value to Belgium amounted to +58.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+10.0% per year) and the UK (+14.3% per year).

Export Prices by Country

In 2021, the average export price for electro-thermic appliances or domestic purposes amounted to $X per unit, falling by -38.3% against the previous year. Over the period under review, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Australia ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+18.5%), while the prices for the other major destinations experienced a decline.

Imports of Electro-Thermic Appliances Or Domestic Purposes

Imports into Hungary

In 2021, overseas purchases of electro-thermic appliances or domestic purposes increased by 6.2% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports posted a moderate increase. The most prominent rate of growth was recorded in 2017 with an increase of 66%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, electro-thermic appliances or domestic purposes imports shrank rapidly to $X in 2021. Overall, imports posted a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 62%. As a result, imports reached the peak of $X, and then reduced rapidly in the following year.

Imports by Country

In 2021, China (X units) constituted the largest electro-thermic appliances or domestic purposes supplier to Hungary, with a 44% share of total imports. Moreover, electro-thermic appliances or domestic purposes imports from China exceeded the figures recorded by the second-largest supplier, Ukraine (X units), twofold. Germany (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+144.6% per year) and Germany (+44.4% per year).

In value terms, Ukraine ($X), China ($X) and the Netherlands ($X) were the largest electro-thermic appliances or domestic purposes suppliers to Hungary, together comprising 76% of total imports.

In terms of the main suppliers, Ukraine, with a CAGR of +136.8%, saw the highest rates of growth with regard to 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

The average import price for electro-thermic appliances or domestic purposes stood at $X per unit in 2021, shrinking by -26.1% against the previous year. Overall, the import price, however, posted a measured increase. The most prominent rate of growth was recorded in 2019 an increase of 56%. Over the period under review, average import prices attained the maximum at $X per unit in 2020, and then declined dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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