Hungary Warehousing Sector Market Size

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.