Fixed, power and variable electrical capacitors market in Hungary

Earlier Report Observations

The Hungarian market for fixed, power and variable electrical capacitors expanded significantly from 286.5 million USD in 2018 to 371.2 million USD in 2019. This growth was driven by technological advancements and increased infrastructure investment, particularly in renewable energy and grid modernization, spurred by energy efficiency regulations.

Market dynamics were impacted in 2020 by the COVID-19 pandemic, which affected demand and production. Recovery followed in 2021, with the market reaching 378.4 million USD, supported by the development of smart grid technologies and the expansion of electric vehicle charging infrastructure, which raised demand for capacitors.

In 2022, the market continued to evolve with major players like ABB, Schneider Electric, and Eaton actively developing products for renewable energy and grid upgrades. Stricter energy efficiency regulations and a consumer shift toward sustainability further supported the market, with these trends shaping its development through 2025.

Production fixed, power and variable electrical capacitors in Hungary

In value, 2018-2021, M $ US

In 2021, Hungary's production of fixed, power, and variable electrical capacitors was valued at 121.5 million US dollars, marking a significant year-over-year decline of 18.4%. Looking at the broader period from 2018 to 2021, production decreased by 7.1%, which translates to an annualized reduction rate of 2.4%.

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

Exports fixed, power and variable electrical capacitors from Hungary

Exports in kind, K t

After two consecutive years of decline, Hungary's exports of fixed, power, and variable electrical capacitors rebounded in 2021, reaching 5.3 thousand tons. This represents a solid gain of 18.1% compared to 2020. However, over the full 2018-2021 period, exports decreased by 26.3%, with a compound annual growth rate (CAGR) of -9.7%. The lowest export volume was recorded in 2020 at 4.5 thousand tons, which also saw the largest decline of 27.6%.

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

From 2018 to 2021, Hungary's export structure in terms of volume remained highly diversified. The top three destinations—Germany (31.1% of exports), Finland (8.8%), and Romania (6.7%)—collectively accounted for only 46.6% of total flows. The remaining 53.4% was distributed among a wide range of smaller markets.

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, M $ US

Following a two-year downturn, Hungary's exports of fixed, power, and variable electrical capacitors in value terms increased in 2021, reaching 172.6 million US dollars. This marked a notable rise of 24.5% compared to the previous year. Over the 2018-2021 period, however, exports decreased by 13.4%, with a compound annual growth rate (CAGR) of -4.7%. The lowest value was recorded in 2020 at 138.6 million US dollars, which also experienced the largest decline of 19.9%.

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

The structure of Hungary's exports in value terms from 2018 to 2021 indicates a diversified set of trading partners. Germany (31.8% of exports), Ukraine (9.1%), and the United States (6.3%) together accounted for 47.2% of total flows. The remaining 52.8% was spread across numerous 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 fixed, power and variable electrical capacitors to Hungary

Imports in kind, K t

The import market for fixed, power, and variable electrical capacitors in Hungary showed volatility during the observed period. In 2021, imports totaled 39.4 thousand tons, reflecting a sudden year-over-year drop of 28.0%. The highest import volume was recorded in 2019 at 314.9 thousand tons, while the lowest was in 2021, resulting in an 8-fold gap between these years. The largest decline occurred in 2020 at 82.6%, and the largest increase was in 2019 at 61.2%.

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

Throughout 2018-2021, Germany and the Netherlands were the core sources for Hungary's imports in terms of volume, jointly accounting for 87.9% of total flows. Other destinations had relatively modest shares in comparison.

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, M $ US

In 2021, Hungary's imports of fixed, power, and variable electrical capacitors in value terms totaled 429.5 million US dollars, showing a strong rise of 16.9% compared to 2020. Over the 2018-2021 period, imports increased by 21%, equating to an annualized growth rate of 6.6%. The highest value was recorded in 2019 at 437.5 million US dollars. The largest decline occurred in 2020 at 16.1%, while the largest increase was in 2019 at 23.3%.

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

From 2018 to 2021, Germany (51.9% of imports), the Netherlands (15.8%), and China (7.0%) stood out as the main markets for Hungary's imports in value terms, together representing 74.7% 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