Hungary: Internal Combustion Engines Market Overview 2021

Internal Combustion Engines Market Size in Hungary

The Hungarian internal combustion engines market expanded significantly to $X in 2020, with an increase of X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Internal combustion engines consumption peaked at $X in 2007; however, from 2008 to 2020, consumption stood at a somewhat lower figure.

Internal Combustion Engines Production in Hungary

In value terms, internal combustion engines production shrank to $X in 2020 estimated in export prices. Over the period under review, production saw a noticeable curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. Over the period under review, production attained the peak level at $X in 2007; however, from 2008 to 2020, production remained at a lower figure.

Internal Combustion Engines Exports

Exports from Hungary

For the third year in a row, Hungary recorded decline in shipments abroad of motor vehicles compression-ignition internal combustion piston engines, which decreased by -X% to X units in 2020. Overall, exports showed a abrupt slump. The pace of growth was the most pronounced in 2017 with an increase of X% y-o-y. Over the period under review, exports reached the maximum at X units in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

In value terms, internal combustion engines exports contracted notably to $X in 2020. In general, exports saw a deep slump. The pace of growth appeared the most rapid in 2011 when exports increased by X% year-to-year. Over the period under review, exports attained the maximum at $X in 2007; however, from 2008 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for internal combustion engines exports from Hungary, accounting for a X% share of total exports. Moreover, internal combustion engines exports to Germany exceeded the volume sent to the second major destination, the Czech Republic (X units), threefold.

From 2007 to 2020, the average annual rate of growth in terms of volume to Germany amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-X% per year) and Slovakia (-X% per year).

In value terms, Germany ($X) remains the key foreign market for internal combustion engines exports from Hungary, comprising X% of total exports. The second position in the ranking was occupied by the Czech Republic ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Germany stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-X% per year) and Slovakia (-X% per year).

Export Prices by Country

The average internal combustion engines export price stood at $X per unit in 2020, growing by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by X% y-o-y. The export price peaked at $X per unit in 2014; however, from 2015 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($X per unit), while the average price for exports to Slovakia ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic, while the prices for the other major destinations experienced mixed trend patterns.

Internal Combustion Engines Imports

Imports into Hungary

Internal combustion engines imports into Hungary declined rapidly to X units in 2020, waning by -X% on the previous year's figure. Over the period under review, imports recorded a abrupt contraction. The growth pace was the most rapid in 2011 when imports increased by X% against the previous year. Imports peaked at X units in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, internal combustion engines imports declined sharply to $X in 2020. Overall, imports continue to indicate a drastic downturn. The growth pace was the most rapid in 2011 when imports increased by X% against the previous year. Imports peaked at $X in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), Spain (X units) and Austria (X units) were the main suppliers of internal combustion engines imports to Hungary, together comprising X% of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria, while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Spain ($X) and Austria ($X) were the largest internal combustion engines suppliers to Hungary, together accounting for X% of total imports.

Among the main suppliers, Spain recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2020, the average internal combustion engines import price amounted to $X per unit, growing by X% against the previous year. Over the period under review, import price indicated pronounced growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, internal combustion engines import price decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Spain, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for motor vehicles compression-ignition internal combustion piston engines in the world?

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The countries with the highest volumes of internal combustion engines consumption in 2020 were China (9.3M units), the U.S. (5.3M units) and India (3.8M units), together comprising 56% of global consumption. These countries were followed by Germany, the UK, Mexico, Turkey, France, South Korea, Thailand, Spain and Austria, which together accounted for a further 26%.

What are the largest producers of motor vehicles compression-ignition internal combustion piston engines in the world?

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The countries with the highest volumes of internal combustion engines production in 2020 were China (9.4M units), the U.S. (5.5M units) and India (3.9M units), together comprising 56% of global production. These countries were followed by Germany, the UK, Mexico, France, South Korea, Turkey, Thailand, Austria, Poland and Spain, which together accounted for a further 28%.

What are the leading suppliers of motor vehicles compression-ignition internal combustion piston engines to Hungary?

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In value terms, the largest internal combustion engines suppliers to Hungary were Germany ($93M), Spain ($52M) and Austria ($1.2M), together comprising 96% of total imports.

What are the leading importers of motor vehicles compression-ignition internal combustion piston engines from Hungary?

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In value terms, Germany ($966M) remains the key foreign market for internal combustion engines exports from Hungary, comprising 66% of total exports. The second position in the ranking was occupied by the Czech Republic ($279M), with a 19% share of total exports.

What is the average export price for motor vehicles compression-ignition internal combustion piston engines in Hungary?

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In 2020, the average internal combustion engines export price amounted to $4,494 per unit, growing by 16% against the previous year.

What is the average import price for motor vehicles compression-ignition internal combustion piston engines in Hungary?

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In 2020, the average internal combustion engines import price amounted to $7,141 per unit, growing by 13% against the previous year.