Hungary: Market for Machines For Balancing Mechanical Parts 2022

Market Size for Machines For Balancing Mechanical Parts in Hungary

The Hungarian balancing mechanical parts machine market shrank dramatically to $X in 2021, waning by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a abrupt setback. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Hungary

In 2021, overseas shipments of machines for balancing mechanical parts increased by X% to X units, rising for the third consecutive year after two years of decline. Overall, exports posted prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Over the period under review, exports showed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Slovakia (X units) was the main destination for balancing mechanical parts machine exports from Hungary, accounting for a X% share of total exports. Moreover, balancing mechanical parts machine exports to Slovakia exceeded the volume sent to the second major destination, Slovenia (X units), twofold. The third position in this ranking was occupied by Romania (X units), with an X% share.

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

In value terms, the largest markets for balancing mechanical parts machine exported from Hungary were Mexico ($X), the United States ($X) and Romania ($X), together comprising X% of total exports.

The United States, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2021, the average balancing mechanical parts machine export price amounted to $X per unit, declining by -X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per unit), while the average price for exports to Montenegro ($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 Mexico (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Hungary

In 2021, approx. X units of machines for balancing mechanical parts were imported into Hungary; shrinking by -X% on the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth imports remained at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports declined remarkably to $X in 2021. Over the period under review, imports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Slovenia (X units), China (X units) and Italy (X units) were the main suppliers of balancing mechanical parts machine imports to Hungary, together comprising X% of total imports. Poland, Germany, Russia and the United States lagged somewhat behind, together comprising a further X 2012 to 2021, the biggest increases were in Poland (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 China ($X) appeared to be the largest balancing mechanical parts machine suppliers to Hungary, with a combined X% share of total imports. Slovenia, the United States, Poland and Russia lagged somewhat behind, together accounting for a further X, with a CAGR of +X%, recorded the highest growth rate of 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

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, shrinking by -X% against the previous year. Over the period under review, the import price saw a deep setback. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Slovenia ($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 United States (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform