Vehicle fittings market in Hungary

Earlier Report Observations

The market for vehicle fittings in Hungary measured 31 308 tons in 2018 and grew to 35 797 tons the following year. A sharp contraction followed in 2020, with the market volume falling to 15 119 tons.

From 2021, a global semiconductor shortage and elevated steel prices increased manufacturing costs, influencing import values which reached 146.5 million USD that year. High steel prices and ongoing global supply chain disruptions continued to affect the market in 2022, contributing to a rise in import value to 204.4 million USD even as import volume declined. The subsequent period was defined by a major expansion of local electric vehicle production capacity, driven by the construction of new plants such as the BMW EV factory in Debrecen and the LG Magna e-powertrain facility in Miskolc. This shift toward domestic manufacturing for the automotive sector coincided with a steady decline in import volumes, which fell to 10 985 tons by 2025, and a strong rise in export value, which grew to 105.4 million USD.

Production vehicle fittings in Hungary

In value, 2018-2021, K $ US

Vehicle fittings production in Hungary declined for the second consecutive year. In 2020, output was valued at 113.5 thousand US dollars, marking a steep decline of 36.9% compared to the previous year. Between 2018 and 2020, production decreased by 50.1%, which equates to an annualized rate of 20.7%.

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

In kind, 2018-2021, kg

Hungary's vehicle fittings production declined for the second consecutive year. In 2020, 20 000 kilograms of vehicle fittings were produced, reflecting an abrupt decline of 31.0% from the previous year. Between 2018 and 2020, production decreased by 42.9%, equating to an annualized rate of 17.0%.

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

Exports vehicle fittings from Hungary

Exports in kind, t

After two years of gains, cross-border shipments of vehicle fittings from Hungary declined. In 2021, exports totaled 4 376 tonnes, indicating a gradual drop of 9.8% compared to the prior year. Between 2018 and 2021, exports increased by 15.5%, equating to an annualized rate of 4.9%. The maximum value was recorded in 2020 at 4 853 tonnes, with the largest increase of 18.6% also occurring in that year.

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

From 2018 to 2021, Germany (38.6% of exports in kind), Turkey (14.8%), and Romania (13.8%) consistently held the leading positions in Hungary's export structure for vehicle fittings by volume. Together, these three countries accounted for 67.2% of total 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, M $ US

Cross-border shipments of vehicle fittings from Hungary increased for the third consecutive year. In 2021, export volume reached 57.6 million US dollars, indicating a steep advance of 25.5% compared to the previous year. Over the period from 2018 to 2021, exports increased by 89.3%, with a compound annual growth rate (CAGR) of 23.7%.

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

Throughout 2018 to 2021, Germany (35.6% of exports in value terms), Turkey (20.9%), and Slovakia (9.2%) remained the key partners for Hungary's vehicle fittings exports by value. Together, these three countries accounted for 65.7% of total export flows.

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

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

Imports vehicle fittings to Hungary

Imports in kind, t

In 2021, vehicle fittings imports into Hungary totaled 21 314 tonnes, which is 6.8% higher than the previous year. Between 2018 and 2021, imports decreased by 39.2%, equating to an annualized rate of 15.3%. The maximum value was recorded in 2019 at 39 859 tonnes, with the largest increase of 13.7% occurring that year. The minimum value was recorded in 2020 at 19 952 tonnes, which also saw the largest decline of 49.9%.

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

From 2018 to 2021, the structure of Hungary's vehicle fittings imports by volume was dominated by Germany, which absorbed 81.3% of total flows, while numerous minor partners accounted for the remainder.

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

After a two-year contraction, vehicle fittings imports into Hungary increased. In 2021, Hungary imported a total of 120.6 million US dollars worth of vehicle fittings, marking a significant advance of 21.5% versus the previous year. Between 2018 and 2021, imports decreased by 9.3%, equating to an annualized rate of 3.2%. The minimum value was recorded in 2020 at 120.6 million US dollars, which also saw the largest decline of 23.5%.

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

Throughout 2018 to 2021, Germany (67.5% of imports in value terms), Czechia (8.2%), and China (5.5%) remained the key partners for Hungary's vehicle fittings imports by value. Together, these three countries accounted for 81.3% 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