Hungary: Tap And Valve Market 2024

Tap And Valve Market Size in Hungary

In 2023, the Hungarian tap and valve market was finally on the rise to reach $X after three years of decline. Overall, consumption showed a tangible increase. Tap and valve consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Tap And Valve Production in Hungary

In value terms, tap and valve production skyrocketed to $X in 2023 estimated in export price. Over the period under review, the total production indicated modest growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Tap And Valve Exports

Exports from Hungary

In 2023, shipments abroad of taps, cocks, valves and similar appliances decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, total exports indicated modest growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports failed to regain momentum.

In value terms, tap and valve exports surged to $X in 2023. Overall, total exports indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for tap and valve exports from Hungary, with a X% share of total exports. Moreover, tap and valve exports to Germany exceeded the volume sent to the second major destination, the Czech Republic (X tons), more than tenfold. The UK (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, 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: the Czech Republic (X% per year) and the UK (X% per year).

In value terms, Germany ($X) remains the key foreign market for taps, cocks, valves and similar appliances exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by the Czech Republic, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and the Czech Republic (X% per year).

Export Prices by Country

In 2023, the average tap and valve export price amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, tap and valve export price increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2019 an increase of X%. The export price peaked in 2023 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Hungary

In 2023, after two years of growth, there was significant decline in supplies from abroad of taps, cocks, valves and similar appliances, when their volume decreased by X% to X tons. Overall, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2022, and then contracted in the following year.

In value terms, tap and valve imports expanded significantly to $X in 2023. Over the period under review, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure in 2023 and are likely to continue growth in the near future.

Imports by Country

Germany (X tons), China (X tons) and Poland (X tons) were the main suppliers of tap and valve imports to Hungary, with a combined X% share of total imports. Italy, Japan, the Czech Republic, Austria, France, Thailand, Spain, the Netherlands, Denmark and Slovakia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Hungary, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

From 2012 to 2023, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2023, the average tap and valve import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform