Central heating boilers market in Hungary

Earlier Report Observations

The market for central heating boilers in Hungary showed considerable variation from 2018 to 2024. It expanded from 63.5 million dollars in 2018 to a high of 83.8 million dollars in 2022, then contracted to 60.1 million dollars in 2023 before a slight recovery to 62.3 million dollars in 2024.

This trajectory was closely tied to domestic manufacturing trends, as local production more than doubled from 24.8 million dollars in 2018 to 57.1 million dollars in 2022. Trade flows also increased until 2022, with imports reaching 83.2 million dollars and exports 56.5 million dollars that year, before both declined significantly in the following period.

By 2024, the market value had stabilized above 62 million dollars, with a notably larger contribution from domestic production compared to the start of the period, while import values were nearly halved from their peak.

Production central heating boilers in Hungary

In value, 2018-2021, K $ US

Hungary's central heating boiler production has grown for the third consecutive year. In 2021, output reached 37 384 thousand US dollars, marking a significant 38.7% increase from the previous year. From 2018 to 2021, production rose by 50.5%, translating to an average annual growth rate of 14.6%.

Annual dynamics of production in Hungary in value, 2018-2021, K $ US

Exports central heating boilers from Hungary

Exports in kind, t

Hungary's exports of central heating boilers have increased for the second year in a row. In 2021, the country exported 11 109 tonnes, reflecting a robust 14.9% growth compared to 2020. Over the 2018-2021 period, exports surged by 84.1%, with a compound annual growth rate of 22.6%. The lowest export volume was recorded in 2019 at 6 028 tonnes, which saw a slight decline of 0.1%. In contrast, 2020 experienced the largest increase of 60.5%.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, t

From 2018 to 2021, Germany, Austria, and Romania were the primary buyers of central heating boilers from Hungary, accounting for 51.5%, 22.9%, and 19.1% of exports in kind, respectively. Together, these three countries made up 93.5% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Hungary in kind, 2018-2021

Exports in value, K $ US

Hungary's export value of central heating boilers has risen for the second consecutive year. In 2021, exports totaled 44 776 thousand US dollars, representing a 16.5% year-on-year increase. Between 2018 and 2021, export value grew by 60.7%, with a compound annual growth rate of 17.1%. The lowest value was recorded in 2019 at 25 401 thousand US dollars, which saw an 8.8% decline. The largest increase occurred in 2020, with a 51.3% rise.

Annual dynamics of product's exports from Hungary in value, 2018-2021, K $ US

From 2018 to 2021, Germany and Austria dominated Hungary's central heating boiler exports in value terms, jointly accounting for 80.6% of total flows. The remaining exports were distributed among smaller markets.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Hungary in value, 2018-2021

Imports central heating boilers to Hungary

Imports in kind, t

After a two-year decline, Hungary's imports of central heating boilers rebounded in 2021. Import volume reached 4 910 tonnes, showing a notable 16.7% increase from the previous year. Over the 2018-2021 period, imports grew by 2.4%, with a compound annual growth rate of 0.8%. The lowest volume was recorded in 2020 at 4 207 tonnes, which experienced an 11.5% decline.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, t

Throughout 2018-2021, Italy, Turkey, and Slovakia were the main sources of central heating boiler imports to Hungary in kind, representing 42.9%, 14.9%, and 13.7% of imports, respectively. Together, these three countries accounted for 71.5% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Hungary in kind, 2018-2021

Imports in value, K $ US

In 2021, Hungary's import value of central heating boilers totaled 82 489 thousand US dollars, a strong 19.3% increase from the previous year. Between 2018 and 2021, import value rose by 23.9%, equating to an average annual growth rate of 7.4%. The largest decline was recorded in 2020, with an 8.6% drop.

Annual dynamics of product's imports to Hungary in value, 2018-2021, K $ US

From 2018 to 2021, Italy, Germany, and Slovakia formed the core group of markets for Hungary's central heating boiler imports in value terms, accounting for 44.1%, 16.5%, and 14.0% of imports, respectively. Together, these three countries represented 74.6% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Hungary in value, 2018-2021