Hungary: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in Hungary

After four years of growth, the Hungarian market for solar cells and light-emitting diodes decreased by X% to $X in 2022. Overall, consumption, however, saw a tangible expansion. Solar cells and light-emitting diodes consumption peaked at $X in 2021, and then fell in the following year.

Production of Solar Cells and Light-Emitting Diodes in Hungary

In value terms, solar cells and light-emitting diodes production fell remarkably to $X in 2022 estimated in export price. In general, production faced a dramatic downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Solar cells and light-emitting diodes production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Solar Cells and Light-Emitting Diodes

Exports from Hungary

In 2022, after four years of decline, there was significant growth in shipments abroad of solar cells and light-emitting diodes, when their volume increased by X% to X units. Over the period under review, exports, however, saw a abrupt curtailment. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, solar cells and light-emitting diodes exports soared to $X in 2022. Overall, exports, however, recorded a abrupt decline. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Moldova (X units) was the main destination for solar cells and light-emitting diodes exports from Hungary, accounting for a X% share of total exports. It was followed by Ukraine (X units), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Moldova stood at X%.

In value terms, Moldova ($X) and Ukraine ($X) constituted the largest markets for solar cells and light-emitting diodes exported from Hungary worldwide.

Moldova, 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.

Export Prices by Country

The average export price for solar cells and light-emitting diodes stood at $X per unit in 2022, standing approx. at the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2021, and then declined slightly in the following year.

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

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

Imports of Solar Cells and Light-Emitting Diodes

Imports into Hungary

In 2022, overseas purchases of solar cells and light-emitting diodes decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2021, and then declined slightly in the following year.

In value terms, solar cells and light-emitting diodes imports fell to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

Germany (X units), China (X units) and the Netherlands (X units) were the main suppliers of solar cells and light-emitting diodes imports to Hungary, with a combined X% share of total imports. The Czech Republic, Austria, Spain and Slovenia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest solar cells and light-emitting diodes suppliers to Hungary were Germany ($X), China ($X) and the Netherlands ($X), with a combined X% share of total imports. The Czech Republic, Austria, Slovenia and Spain lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 solar cells and light-emitting diodes stood at $X per unit in 2022, which is down by X% against the previous year. In general, the import price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2017 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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 Slovenia ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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