Bulgaria: Market for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam 2024

Market Size for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Bulgaria

The Bulgarian market for central heating boilers, for producing hot water or low pressure steam contracted dramatically to $X in 2022, declining by -56.2% against the previous year. Overall, consumption continues to indicate a deep slump. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Bulgaria

In value terms, production of central heating boilers, for producing hot water or low pressure steam declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 24%. Production of peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Exports from Bulgaria

In 2022, exports of central heating boilers, for producing hot water or low pressure steam from Bulgaria rose slightly to X units, picking up by 3.6% on the year before. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 111%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of central heating boilers, for producing hot water or low pressure steam skyrocketed to $X in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 72% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Austria (X units) was the main destination for exports of central heating boilers, for producing hot water or low pressure steam from Bulgaria, accounting for a 79% share of total exports. Moreover, exports of central heating boilers, for producing hot water or low pressure steam to Austria exceeded the volume sent to the second major destination, Romania (X units), ninefold. The third position in this ranking was held by Germany (X units), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to Austria stood at +59.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+20.8% per year) and Germany (+87.7% per year).

In value terms, Austria ($X) remains the key foreign market for central heating boilers, for producing hot water or low pressure steam exports from Bulgaria, comprising 70% of total exports. The second position in the ranking was held by Romania ($X), with an 8% share of total exports. It was followed by Germany, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria amounted to +66.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+17.2% per year) and Germany (+86.1% per year).

Export Prices by Country

In 2022, the average export price for central heating boilers, for producing hot water or low pressure steam amounted to $X per unit, surging by 17% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for central heating boilers, for producing hot water or low pressure steam increased by +21.8% against 2016 indices. The pace of growth was the most pronounced in 2016 an increase of 62%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Greece ($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 Austria (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Imports into Bulgaria

Imports of central heating boilers, for producing hot water or low pressure steam into Bulgaria fell remarkably to X units in 2022, shrinking by -53.4% against the year before. In general, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 43% against the previous year. Over the period under review, imports of attained the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of central heating boilers, for producing hot water or low pressure steam declined significantly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 46% against the previous year. Imports peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

In 2022, Turkey (X units) constituted the largest central heating boilers, for producing hot water or low pressure steam supplier to Bulgaria, with a 39% share of total imports. Moreover, imports of central heating boilers, for producing hot water or low pressure steam from Turkey exceeded the figures recorded by the second-largest supplier, Serbia (X units), twofold. Germany (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (+18.6% per year) and Germany (+0.7% per year).

In value terms, the largest central heating boilers, for producing hot water or low pressure steam suppliers to Bulgaria were Germany ($X), Turkey ($X) and Italy ($X), together accounting for 62% of total imports. Romania, Serbia, Ukraine, France and the Czech Republic lagged somewhat behind, together comprising a further 28%.

Among the main suppliers, Ukraine, with a CAGR of +71.6%, recorded the highest rates of growth with regard to the value of imports, 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 central heating boilers, for producing hot water or low pressure steam stood at $X per unit in 2022, picking up by 3.9% against the previous year. Overall, the import price showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 47%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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