Hungary: Static Converter Market 2024

Static Converter Market Size in Hungary

In 2022, the Hungarian static converter market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Static Converter Production in Hungary

In value terms, static converter production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, posted a strong expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Static Converter Exports

Exports from Hungary

After five years of growth, shipments abroad of static converters decreased by X% to X units in 2022. In general, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021, and then contracted slightly in the following year.

In value terms, static converter exports rose slightly to $X in 2022. Over the period under review, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X units) was the main destination for static converter exports from Hungary, accounting for a X% share of total exports. Moreover, static converter exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X units), eightfold. The third position in this ranking was taken by Italy (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Italy (X% per year).

In value terms, Germany ($X) remains the key foreign market for static converters exports from Hungary, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Italy (X% per year).

Export Prices by Country

The average static converter export price stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the export price recorded strong growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Bulgaria ($X per unit) was amongst the lowest.

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

Static Converter Imports

Imports into Hungary

In 2022, approx. X units of static converters were imported into Hungary; dropping by X% compared with the previous year. In general, imports recorded a mild reduction. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, static converter imports soared to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X units), Germany (X units) and the Czech Republic (X units) were the main suppliers of static converter imports to Hungary, with a combined X% share of total imports. Poland, France, Vietnam, the Netherlands, Thailand, Italy, Ireland, Austria, Japan and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X), Germany ($X) and Vietnam ($X) constituted the largest static converter suppliers to Hungary, together comprising X% of total imports.

Among the main suppliers, Vietnam, with a CAGR of X%, recorded the highest growth rate of 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 static converter import price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price showed a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Japan ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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