Bulgaria: Market for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V 2025

Market Size for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V in Bulgaria

The Bulgarian electrical board and console market dropped notably to $X in 2022, falling by -93.9% against the previous year. Overall, consumption continues to indicate a precipitous slump. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding X V in Bulgaria

In value terms, electrical board and console production fell modestly to $X in 2022 estimated in export price. Overall, production, however, enjoyed buoyant growth. The growth pace was the most rapid in 2020 with an increase of 69%. Over the period under review, production attained the peak level at $X in 2021, and then shrank slightly in the following year.

Exports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Exports from Bulgaria

In 2022, the amount of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v exported from Bulgaria soared to X units, jumping by 31% against the previous year. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 80%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, electrical board and console exports soared to $X in 2022. In general, exports saw a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 100%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

North Macedonia (X units) was the main destination for electrical board and console exports from Bulgaria, with a 51% share of total exports. Moreover, electrical board and console exports to North Macedonia exceeded the volume sent to the second major destination, Switzerland (X units), threefold. The third position in this ranking was taken by Greece (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to North Macedonia stood at +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+64.9% per year) and Greece (+122.0% per year).

In value terms, Switzerland ($X) remains the key foreign market for boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v exports from Bulgaria, comprising 58% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 12% share of total exports. It was followed by Greece, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value to Switzerland stood at +68.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+9.4% per year) and Greece (+75.9% per year).

Export Prices by Country

The average electrical board and console export price stood at $X per unit in 2022, dropping by -7.6% against the previous year. Over the period under review, the export price, however, continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2018 an increase of 50%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Moldova ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Moldova (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Imports into Bulgaria

In 2022, supplies from abroad of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v increased by 33% to X units, rising for the second consecutive year after three years of decline. In general, imports, however, saw a pronounced curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 64%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electrical board and console imports surged to $X in 2022. Overall, imports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2017 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), Turkey (X units) and China (X units) were the main suppliers of electrical board and console imports to Bulgaria, with a combined 72% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +127.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v to Bulgaria, comprising 39% of total imports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-5.8% per year) and China (+109.3% per year).

Import Prices by Country

In 2022, the average electrical board and console import price amounted to $X per unit, approximately reflecting the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 46%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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