Hungary: Lock And Key Market 2024

Lock And Key Market Size in Hungary

In 2022, the Hungarian lock and key market decreased by X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Lock and key consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Lock And Key Production in Hungary

In value terms, lock and key production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2017 when the production volume increased by X%. Lock and key production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Lock And Key Exports

Exports from Hungary

In 2022, shipments abroad of padlocks, locks and keys of base metal increased by X% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, lock and key exports fell to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Germany (X tons) was the main destination for lock and key exports from Hungary, accounting for a X% share of total exports. Moreover, lock and key exports to Germany exceeded the volume sent to the second major destination, Poland (X tons), twofold. Romania (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Germany ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Hungary, comprising X% of total exports. The second position in the ranking was taken by Romania ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2022, 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: Romania (X% per year) and Poland (X% per year).

Export Prices by Country

In 2022, the average lock and key export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, showed modest growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 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 Slovakia ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Hungary

In 2022, purchases abroad of padlocks, locks and keys of base metal decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, saw a slight expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, lock and key imports totaled $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest lock and key supplier to Hungary, with a X% share of total imports. Moreover, lock and key imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Austria (X tons), with an X% share.

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

In value terms, Germany ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Hungary, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by the Czech Republic, with a X% share.

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

Import Prices by Country

In 2022, the average lock and key import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price posted pronounced growth. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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