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Hungary Warehousing Sector Market Size (2024 - 2029)

The Hungary Warehousing Sector is experiencing growth, with its market size projected to expand over the forecast period. The logistics market is witnessing rapid development, particularly in the Greater Budapest area, where significant warehouse space is under construction. Despite a slight decline in the number of warehousing businesses, the sector is benefiting from increased supply and new projects, including a major Sino-European logistics center in Budapest. This growth trajectory indicates a robust expansion in the market's capacity and infrastructure.

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Market Size of Hungary Warehousing Sector Industry

Hungary Warehousing Sector Market Summary
Study Period 2020-2029
Base Year For Estimation 2023
Market Size (2024) USD 1.05 Billion
Market Size (2029) USD 1.34 Billion
CAGR (2024 - 2029) 5.00 %
Market Concentration Low

Major Players

Hungary Warehousing Sector Market Major Players

*Disclaimer: Major Players sorted in no particular order

Hungary Warehousing Sector Market Analysis

The Hungary Warehousing Sector Market size is estimated at USD 1.05 billion in 2024, and is expected to reach USD 1.34 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).

  • There are 484 warehousing & storage businesses in Hungary as of 2023, a decline of -4.2% from 2022.
  • The logistics market is expanding at pace, with forecast completions for the Greater Budapest area this year at 446,000 sqm. Vacancy has increased to 6% on the back of strong supply. The regional industrial developer and operator CTP has started a 120,000 sqm project at CTPark Szigetszentmiklós. More than 200,000 sqm of space is under construction in Hungary.
  • More than 600,000 sqm of logistics space is under construction across Hungary.
  • A new 100,000 square meter Sino-European logistics and trade exchange center is to be built in Budapest. Koeman, owned by Chinese logistics company Tonglinada, will develop the project on land leased from the Hungarian firm Nonfungo.
  • The project will receive more than 30 million US dollars of investment. It aims to create a logistics center that will perform functions such as warehousing, distribution, consolidation, bundling, and re-export trade.
  • The prolific European industrial park operator and developer Panattoni had been a notable absence from the Hungarian market in recent years but has now secured two 100,000 sqm sites in the Budapest area.
  • The company has developed its first 17,000 sqm of speculative space across four buildings at Panattoni City Dock Törökbálint. It is also developing two speculative “big box” projects in Greater Budapest, one with a development potential of 74,000 sqm in Herceghalom, the other a 65,000 sqm project in Gyál.

Hungary Warehousing Sector Industry Segmentation

A warehouse is a building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large, plain buildings in industrial parks on the outskirts of cities, towns, or villages.

The Hungary warehousing sector is segmented by type (general warehouse and storage, refrigerated warehouse and storage, and farm product warehousing and storage), by ownership (private warehouses, public warehouses, and bonded warehouses), by end-user industry (manufacturing, consumer goods, food and beverages, retail, healthcare, other end-user industries). 

The Hungary warehousing sector market report offers the market size and forecast value (USD) for all the above segments

By Type
General Warehousing and Storage
Refrigerated warehousing and storage
Farm Product warehousing and storage
By Ownership
Private Warehouses
Public Warehouses
Bonded Warehouse
By End-User Industry
Manufacturing
Consumer Goods
Food and Beverages
Retail
Helathcare
Other End-User Industries
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Hungary Warehousing Sector Market Size Summary

The Hungary warehousing sector is experiencing a dynamic phase of growth, driven by the expanding logistics market and strategic developments in infrastructure. The sector is characterized by a mix of local and international players, with significant contributions from companies such as Eurasia Logistics Ltd., ADR Logistics Kft., and Raben Group. The Greater Budapest area remains a focal point, with substantial industrial stock and ongoing construction projects aimed at enhancing logistics capabilities. Notable developments include the construction of a Sino-European logistics and trade exchange center in Budapest and the expansion of facilities by companies like Balluff, which is integrating advanced sensor technology to optimize logistics operations. The market is also witnessing the entry of prominent European developers like Panattoni, further bolstering the region's logistics landscape.

The market size of the Hungary warehousing sector is poised for growth, with projections indicating a steady increase over the coming years. The sector's expansion is supported by the government's focus on boosting e-commerce, which is expected to drive demand for warehousing and logistics services. The fragmented nature of the market, coupled with strategic mergers and acquisitions, such as the merger between eMAG Hungary and Extreme Digital, is contributing to the creation of a more integrated e-commerce ecosystem. Additionally, international investments, like the establishment of Sennebogen's new manufacturing facility, underscore the region's potential as a logistics hub. These developments collectively highlight the sector's resilience and its critical role in supporting Hungary's economic growth.

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Hungary Warehousing Sector Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Popularity of Omnichannel Distribution

    3. 1.3 Market Restraints

      1. 1.3.1 High Investment and Maintenance Costs

    4. 1.4 Market Opportunities

      1. 1.4.1 Government Investment in the construction sector

    5. 1.5 Value Chain / Supply Chain Analysis

    6. 1.6 Porter's Five Forces Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of covid 19 on the market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 General Warehousing and Storage

      2. 2.1.2 Refrigerated warehousing and storage

      3. 2.1.3 Farm Product warehousing and storage

    2. 2.2 By Ownership

      1. 2.2.1 Private Warehouses

      2. 2.2.2 Public Warehouses

      3. 2.2.3 Bonded Warehouse

    3. 2.3 By End-User Industry

      1. 2.3.1 Manufacturing

      2. 2.3.2 Consumer Goods

      3. 2.3.3 Food and Beverages

      4. 2.3.4 Retail

      5. 2.3.5 Helathcare

      6. 2.3.6 Other End-User Industries

Hungary Warehousing Sector Market Size FAQs

The Hungary Warehousing Sector Market size is expected to reach USD 1.05 billion in 2024 and grow at a CAGR of 5% to reach USD 1.34 billion by 2029.

In 2024, the Hungary Warehousing Sector Market size is expected to reach USD 1.05 billion.

Hungary Warehousing Sector Market Report Snapshots

Hungary Warehousing Sector Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)