The Hungarian transport and overhead crane market will grow by X% to $X in 2021, rising for the sixth consecutive year after three consecutive years of decline. Overall, consumption continued to grow significantly. Consumption of transport and overhead cranes peaked in 2021 and is expected to keep growing in the short term.
In value terms, the production of transport and overhead cranes rose significantly to $X in 2021, estimated at export prices. During the period under review, the production volume increased significantly. The fastest growth rate in 2013, an increase of X% year-on-year. Transport and overhead crane production peaked at $X in 2014; however, production has remained low from 2015 to 2021.
Hungary's overseas shipments of haulage cranes, gantry cranes and overhead cranes fell for the third year in a row, falling -X% to X units in 2021. Overall, exports contracted sharply. The growth rate was most pronounced in 2013, when 3 ton gantry crane exports increased by X% over the previous year. During the period under review, exports in 2016 reached a record high of X units; however, from 2017 to 2021, exports were at a lower level.
In value terms, exports of transport and overhead cranes contracted significantly to $X in 2021. During the period under review, exports contracted sharply. In 2013, the growth rate was the fastest, with exports increasing by X% year-on-year. During the period under review, exports peaked at $X in 2016; however, from 2017 to 2021, exports failed to regain momentum.
Romania (X units), Czech Republic (X units) and Moldova (X units) were the main destinations for Hungary's transport and overhead crane exports, together accounting for X% of total exports. From 2012 to 2021, the largest increase was in Moldova (X%), while other leaders saw declines in shipments.
Romania ($X), Czech Republic ($X), and Germany ($X) constitute the largest markets for transport and overhead cranes exported by Hungary globally by value, together accounting for X% of total exports. This is followed by Bulgaria, Moldova, Ukraine, Serbia and Albania, which together account for another X, with a CAGR of +X%, the highest growth rate in terms of export value, among the major countries during the review period destinations, while shipments from other leaders showed a different trend pattern.
In 2021, the number of transport cranes, gantry cranes and overhead cranes imported into Hungary soared to X units, an increase of X% year-on-year. In general, imports have grown to a certain extent. 2016 saw the fastest growth, with imports increasing by X% year-on-year. During the period under review, imports reached a maximum of X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.
In value terms, imports of transport and overhead cranes fell significantly to $X in 2021. During the period under review, there was a marked decline in imports. The growth rate was most pronounced in 2014, when imports increased by X% year-on-year. As a result, imports peaked at X dollars. Import growth will remain low between 2015 and 2021.
In 2021, China (X units) is Hungary's largest supplier of transport and overhead cranes, accounting for X% of total imports. In addition, transport and overhead cranes imported from China were four times higher than the figures recorded by the second largest supplier, Germany (X units). In third place is Slovakia (X units) with an X% share.
From 2012 to 2021, the average annual growth rate of Chinese exports is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: Germany (-X% per annum) and Slovakia (+X% per annum).
Germany (USD X) is Hungary's largest supplier of transport and overhead cranes by value, accounting for X% of total imports. In second place is China ($X) with X% of total imports. It is followed by Slovakia with an X% share. Average annual value growth in Germany from 2012 to 2021 was relatively modest. The average annual growth rates of imports for the remaining suppliers are as follows: China (+X% per annum) and Slovakia (+X% per annum).
Germany is Hungary's largest supplier of transport and overhead cranes by value, accounting for 65% of total imports. In second place is China, which accounts for 23% of total imports. It is followed by Slovakia with a share of 8.1%.
By value, the largest markets for transport and overhead cranes exported from Hungary are Romania, the Czech Republic and Germany, which together account for 70% of total exports. Bulgaria, Moldova, Ukraine, Serbia and Albania are slightly behind, with a combined 23%.
In 2021, the average export price of transport and overhead cranes is $1,829 per unit, down -7.1% from the previous year.
In 2021, the average import price of transport and overhead cranes will be $1,901 per unit, down -64.9% from the previous year.
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