Drilling, threading or tapping tools market in Hungary

Earlier Report Observations

The Hungarian market for drilling, threading or tapping tools, measured in physical volume, expanded strongly from 236 tons in 2018 to 438 tons in 2024. This growth included a significant surge of nearly 90 tons in 2023, following a period of more moderate increases and a slight contraction in 2021.

In value terms, the market exhibited a different pattern, declining from $26.4 million in 2018 to $22.4 million in 2020 before recovering to over $31 million in 2021. The subsequent stabilization around $30.8 million in 2024, while volume continued to rise, points to shifts in the average price or mix of products consumed within the market.

Production drilling, threading and tapping tools in Hungary

In value, 2018-2021, K $ US

Hungary's production of drilling, threading, or tapping tools has rebounded after two years of decline. In 2021, output reached 30 715 thousand US dollars, marking a sharp increase of 42.3% compared to the previous year. Over the period from 2018 to 2021, production grew by 20%, with a compound annual growth rate of 6.3%. The lowest value was recorded in 2020 at 21 578 thousand US dollars, while the largest decline occurred in 2019, with a drop of 9.2%.

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

In kind, 2018-2021, t

Hungary's production of drilling, threading, or tapping tools has increased for the second year in a row. In 2021, the country produced 245.0 tonnes, representing a dramatic uptick of 30.3% compared to 2020. From 2018 to 2021, production rose by 32.4%, with a compound annual growth rate of 9.8%. The minimum value was recorded in 2019 at 174.0 tonnes, and the largest decline also occurred in that year, with a decrease of 5.9%.

Annual dynamics of production in Hungary in kind, 2018-2021, t

Exports drilling, threading and tapping tools from Hungary

Exports in kind, t

The data shows irregular changes, indicating a volatile market environment. Export volumes hit a low in 2019 and peaked in 2020, with a top-to-bottom ratio of 2.9 times. In 2021, deliveries of drilling, threading, or tapping tools from Hungary amounted to 23.8 tonnes, marking a notable drop of 19.3% from the previous year. The minimum value was recorded in 2019 at 10.3 tonnes, while the maximum was in 2020 at 29.5 tonnes. The largest decline occurred in 2019, with a decrease of 28.7%, and the largest increase was in 2020, with a surge of 185.9%.

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

From 2018 to 2021, Slovakia and Germany remained the primary buyers of drilling, threading, or tapping tools from Hungary, together accounting for 81.2% of total exports in kind, with other countries making up the remainder.

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

There were noticeable fluctuations in market performance during this period. Export volumes fell to a trough in 2019 and peaked in 2021, with a top-to-bottom ratio of 2.2 times. In 2021, cross-border shipments of drilling, threading, or tapping tools from Hungary reached 558 thousand US dollars, which is 8.2% more compared to 2020. The minimum value was recorded in 2019 at 259 thousand US dollars. The largest decline occurred in 2019, with a drop of 40.4%, while the largest increase was in 2020, with a rise of 99.2%.

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

From 2018 to 2021, Germany and Slovakia remained the key destinations for exports in value terms, jointly taking 90.8% of total flows, while other partners were much less significant individually.

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

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

Imports drilling, threading and tapping tools to Hungary

Imports in kind, t

After a two-year gain, Hungary's import volumes of drilling, threading, or tapping tools declined. In 2021, the import volume was recorded at 79.5 tonnes, down by 47.3% compared to 2020. Between 2018 and 2021, imports increased by 21.5%, equating to an annualized rate of 6.7%. The maximum value was recorded in 2020 at 151.0 tonnes, and the largest increase occurred in that year, with a rise of 54.2%.

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

From 2018 to 2021, China, Germany, and Poland stood out as the main markets for imports in kind, with shares of 39.4%, 24.7%, and 23.3% respectively, together representing 87.4% of total 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 imported drilling, threading, or tapping tools worth 1 210 thousand US dollars, which is 31.5% weaker year-over-year. Between 2018 and 2021, imports decreased by 22.4%, equating to an annualized rate of 8.1%. The minimum value was recorded in 2019 at 829 thousand US dollars, while the maximum was in 2020 at 1 366 thousand US dollars. The largest increase occurred in 2020, with a rise of 64.9%.

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

From 2018 to 2021, Germany, China, and Poland were the principal destinations for imports in value terms, with shares of 50.7%, 18.4%, and 7.6% respectively, jointly accounting for 76.7% of total flows.

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

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