Key Market Indicators
Hungary's electrical equipment market is projected to see significant growth over the next five years, with revenue expected to climb from €1.66 billion in 2023 to approximately €1.89 billion by 2028. This represents an annual growth rate of 2.1%. Since 2013, the market has seen an average annual growth of 2.7%. In the global rankings for 2023, Hungary was positioned 12th, with Sweden surpassing it with the same revenue of €1.66 billion. France, Italy, and Spain occupied the second, third, and fourth positions, respectively. On the import front, Hungary's electrical equipment imports are forecasted to reach nearly $25.83 billion by 2028, up from about $23.88 billion in 2023. This marks an average annual increase of 1.2%. Since 1997, the country's import demand has grown at a steady pace of 1% annually. In terms of exports, Hungary is also set to see growth. The value of electrical equipment exports is expected to rise from $26.73 billion in 2023 to around $28.69 billion by 2028, reflecting an average annual growth rate of 1.1%. Since 1997, Hungary's export supply has increased by an average of 0.7% each year.
