Bulgaria: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Market Size for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Bulgaria

For the fourth year in a row, the Bulgarian market for buckets, shovels, grabs and grips for ships’ derricks and cranes recorded growth in sales value, which increased by 2.8% to $X in 2022. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +35.6% against 2017 indices. Ship derrick buckets and shovels consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Bulgaria

In value terms, ship derrick buckets and shovels production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 386% against the previous year. Ship derrick buckets and shovels production peaked at $X in 2021, and then contracted in the following year.

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports from Bulgaria

In 2022, overseas shipments of buckets, shovels, grabs and grips for ships’ derricks and cranes decreased by -30.3% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 51%. Over the period under review, the exports hit record highs at X units in 2021, and then reduced remarkably in the following year.

In value terms, ship derrick buckets and shovels exports dropped to $X in 2022. Over the period under review, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 73% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Italy (X units), Belgium (X units) and France (X units) were the main destinations of ship derrick buckets and shovels exports from Bulgaria, with a combined 71% share of total exports. These countries were followed by Romania, Serbia, Finland, Germany and the United States, which together accounted for a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +146.7%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Belgium ($X) constituted the largest markets for ship derrick buckets and shovels exported from Bulgaria worldwide, together accounting for 58% of total exports. Finland, Serbia, Romania, Germany and the United States lagged somewhat behind, together accounting for a further 22%.

Finland, with a CAGR of +172.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for buckets, shovels, grabs and grips for ships’ derricks and cranes amounted to $X per unit, jumping by 26% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2013 an increase of 29% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Belgium ($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 Finland (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports into Bulgaria

In 2022, purchases abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 8.3% to X units, rising for the second consecutive year after two years of decline. In general, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +27.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 55% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, ship derrick buckets and shovels imports soared to $X in 2022. Overall, imports showed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 85%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Germany (X units), Turkey (X units) and Italy (X units) were the main suppliers of ship derrick buckets and shovels imports to Bulgaria, with a combined 37% share of total imports. France, the Czech Republic, China, Romania, Latvia, Poland, the Netherlands, Malaysia, Belgium and Greece lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +395.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) constituted the largest ship derrick buckets and shovels suppliers to Bulgaria, together comprising 48% of total imports. Turkey, Malaysia, Latvia, the Czech Republic, China, Romania, Poland, the Netherlands, Belgium and Greece lagged somewhat behind, together comprising a further 42%.

Malaysia, with a CAGR of +932.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, picking up by 36% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ship derrick buckets and shovels import price increased by +59.5% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+110.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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