Iron or steel radiators and air heaters market in Hungary

Earlier Report Observations

The market for iron or steel radiators and air heaters in Hungary saw a sharp decline from 2021 to 2023, with the market size dropping from 58.1 million USD to 34.5 million USD, before a slight recovery to 37.1 million USD in 2024. This contraction was largely driven by rising heating costs in 2022, which reduced consumer spending on heating system upgrades and new installations.

Product development throughout the period was shaped by energy efficiency trends and consumer demand for aesthetics. Steel panel radiators remained dominant due to their favorable price-to-performance ratio and long warranties, while the rise of heat pumps spurred demand for compatible low-temperature radiators. Designer radiators also emerged, blending functionality with interior design elements, and electric or combined-operation models offered alternative heating solutions.

The market structure evolved with the strengthening of established companies offering nationwide services for modernization projects. A regulatory push towards renewable energy and stricter efficiency standards further accelerated the adoption of energy-saving radiators and systems integrated with heat pumps.

Production iron or steel radiators and air heaters in Hungary

In value, 2018-2021, K $ US

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

Exports iron or steel radiators and air heaters from Hungary

Exports in kind, t

Hungary's exports of iron or steel radiators and air heaters have grown for the second year in a row. In 2021, the country exported 22 321 tonnes, marking a 6.2% increase from 2020. The lowest export volume was recorded in 2019 at 20 877 tonnes, which also saw the largest decline of 7.1%.

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

From 2018 to 2021, Germany was the top destination for Hungary's exports of iron or steel radiators and air heaters in volume terms, accounting for 33.2% of the total. Austria followed with 29.0%, and France with 8.1%. Together, these three countries made up 70.3% of Hungary's export flows.

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 for iron or steel radiators and air heaters has risen for the second consecutive year. In 2021, exports reached 59 319 thousand US dollars, up 5.7% from 2020. Over the 2018-2021 period, exports grew by 20%, with a compound annual growth rate of 6.3%. The lowest value was in 2019 at 44 110 thousand US dollars, which experienced the largest decline of 10.8%. In contrast, 2020 saw the biggest increase at 27.3%.

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

Between 2018 and 2021, Germany led as the main market for Hungary's exports in value terms, representing 40.6% of the total. Austria accounted for 24.1%, and France for 7.7%. Combined, these three countries contributed 72.3% of Hungary's export value.

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

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

Imports iron or steel radiators and air heaters to Hungary

Imports in kind, t

After a two-year decrease, Hungary's imports of iron or steel radiators and air heaters rebounded in volume. In 2021, imports totaled approximately 20 655 tonnes, showing a strong 20.6% growth compared to the previous year. From 2018 to 2021, imports fell by 3.8%, with a compound annual growth rate of -1.3%. The lowest volume was in 2020 at 17 129 tonnes, while 2019 recorded the largest decline of 11.8%.

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

From 2018 to 2021, Turkey was the dominant source for Hungary's imports of iron or steel radiators and air heaters in volume terms, holding 70.1% of the total. Other countries each had much smaller shares.

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

Following a two-year drop, Hungary's imports of iron or steel radiators and air heaters increased in value. In 2021, imports amounted to 47 104 thousand US dollars, reflecting a sharp 44.8% rise from 2020. Between 2018 and 2021, imports grew by 17.4%, equivalent to an annualized rate of 5.5%. The lowest value was in 2020 at 32 540 thousand US dollars, which also saw the largest decline of 13.5%.

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

During 2018-2021, Turkey remained the primary supplier of iron or steel radiators and air heaters to Hungary in value terms, accounting for 47.1% of imports. Poland contributed 12.2%, and Germany 11.6%. Together, these three countries made up 70.9% of Hungary's import value.

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

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