Bulgaria: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2024

Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in Bulgaria

The Bulgarian market for electrical boards, panels, consoles, desks and cabinets expanded markedly to $X in 2021, picking up by 14% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +62.4% against 2016 indices. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Production of Electrical Boards, Panels, Consoles, Desks and Cabinets in Bulgaria

In value terms, electric board, desk and panel production expanded rapidly to $X in 2021 estimated in export price. Overall, production posted resilient growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 58% against the previous year. Electric board, desk and panel production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Exports from Bulgaria

In 2021, the amount of electrical boards, panels, consoles, desks and cabinets exported from Bulgaria expanded markedly to X units, with an increase of 11% against the previous year. The total export volume increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by 24% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric board, desk and panel exports soared to $X in 2021. In general, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Romania (X units) was the main destination for electric board, desk and panel exports from Bulgaria, accounting for a 48% share of total exports. Moreover, electric board, desk and panel exports to Romania exceeded the volume sent to the second major destination, France (X units), fourfold. Switzerland (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Romania stood at +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+1.2% per year) and Switzerland (+67.0% per year).

In value terms, Romania ($X) remains the key foreign market for electrical boards, panels, consoles, desks and cabinets exports from Bulgaria, comprising 37% of total exports. The second position in the ranking was taken by France ($X), with a 17% share of total exports. It was followed by Italy, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania stood at +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+2.1% per year) and Italy (+11.9% per year).

Export Prices by Country

The average export price for electrical boards, panels, consoles, desks and cabinets stood at $X per unit in 2021, surging by 18% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 25%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Imports into Bulgaria

In 2021, overseas purchases of electrical boards, panels, consoles, desks and cabinets decreased by -5.7% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.6% against 2016 indices. The pace of growth was the most pronounced in 2017 when imports increased by 43%. Imports peaked at X units in 2020, and then shrank in the following year.

In value terms, electric board, desk and panel imports skyrocketed to $X in 2021. In general, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 43%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

Turkey (X units), the United States (X units) and China (X units) were the main suppliers of electric board, desk and panel imports to Bulgaria, together accounting for 56% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +113.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of electrical boards, panels, consoles, desks and cabinets to Bulgaria, comprising 38% of total imports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total imports. It was followed by Hungary, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +109.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+22.2% per year) and Hungary (+2.2% per year).

Import Prices by Country

The average import price for electrical boards, panels, consoles, desks and cabinets stood at $X per unit in 2021, increasing by 25% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electric board, desk and panel import price increased by +71.3% against 2016 indices. The most prominent rate of growth was recorded in 2019 an increase of 28%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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