Milking Machine Market Overview in Hungary
Market Overview
The Hungarian milking machine market amounted to $
in 2019, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2009 to 2019, the growth of the market remained at a lower figure.
In value terms, milking machine production contracted to $ in 2019 estimated in export prices. In general, production, however, showed a slight reduction. The pace of growth appeared the most rapid in 2008 when the production volume increased by % y-o-y. As a result, production attained the peak level of $. From 2009 to 2019, production growth failed to regain the momentum.
in 2019, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2009 to 2019, the growth of the market remained at a lower figure.In value terms, milking machine production contracted to $
in 2019 estimated in export prices. In general, production, however, showed a slight reduction. The pace of growth appeared the most rapid in 2008 when the production volume increased by % y-o-y. As a result, production attained the peak level of $. From 2009 to 2019, production growth failed to regain the momentum.Consumption
In 2019, consumption of milking machines increased by % to tonnes, rising for the sixth consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2008 when the consumption volume increased by % against the previous year. Over the period under review, consumption attained the maximum volume in 2019 and is expected to retain growth in the near future.
The revenue of the milking machine market in Hungary amounted to $ in 2019, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. As a result, consumption attained the peak level of $. From 2009 to 2019, the growth of the market failed to regain the momentum.
% to tonnes, rising for the sixth consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2008 when the consumption volume increased by % against the previous year. Over the period under review, consumption attained the maximum volume in 2019 and is expected to retain growth in the near future.The revenue of the milking machine market in Hungary amounted to $
in 2019, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. As a result, consumption attained the peak level of $. From 2009 to 2019, the growth of the market failed to regain the momentum.Market Forecast
Driven by increasing demand for milking machine in Hungary, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Over the period under review, the share of imports in terms of total milking machine consumption in Hungary was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Hungary milking machine market is largely supplied by domestic manufacturers.
% figure. In value terms the share of imports also stood at a low figure, which means that the Hungary milking machine market is largely supplied by domestic manufacturers.Trade Balance
Hungary remains a net importer of milking machine; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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