Bulgaria: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Bulgaria

The Bulgarian conveyor or transmission belt market reduced dramatically to $X in 2021, declining by -76.2% against the previous year. In general, consumption recorded a deep setback. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Bulgaria

In value terms, conveyor or transmission belt production rose remarkably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep contraction. Conveyor or transmission belt production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Bulgaria

In 2021, approx. X tons of conveyor or transmission belts or belting were exported from Bulgaria; jumping by 56% compared with 2020 figures. Overall, exports posted strong growth. The growth pace was the most rapid in 2014 with an increase of 66% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, conveyor or transmission belt exports surged to $X in 2021. Over the period under review, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -5.2% against 2017 indices. The pace of growth was the most pronounced in 2017 when exports increased by 54% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kosovo (X tons), North Macedonia (X tons) and the Czech Republic (X tons) were the main destinations of conveyor or transmission belt exports from Bulgaria, with a combined 74% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Kosovo (with a CAGR of +5,158.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X), North Macedonia ($X) and Kosovo ($X) were the largest markets for conveyor or transmission belt exported from Bulgaria worldwide, together comprising 60% of total exports.

Among the main countries of destination, Kosovo, with a CAGR of +129.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, declining by -18.1% against the previous year. Overall, the export price recorded a pronounced slump. The most prominent rate of growth was recorded in 2017 an increase of 55%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Kosovo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+41.1%), while the prices for the other major destinations experienced a decline.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Bulgaria

In 2021, conveyor or transmission belt imports into Bulgaria shrank dramatically to X tons, with a decrease of -48.4% compared with the previous year. Over the period under review, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 104% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt imports declined significantly to $X in 2021. Overall, imports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 43% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of conveyor or transmission belt imports to Bulgaria, together accounting for 60% of total imports. Italy, Romania, the Czech Republic, the Netherlands, Slovakia, China, Greece, Slovenia and Hungary lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +26.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of conveyor or transmission belts or belting to Bulgaria, comprising 39% of total imports. The second position in the ranking was held by Italy ($X), with a 10% share of total imports. It was followed by Turkey, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.2% per year) and Turkey (+0.1% per year).

Import Prices by Country

The average conveyor or transmission belt import price stood at $X per ton in 2021, growing by 52% against the previous year. In general, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, conveyor or transmission belt import price increased by +17.5% against 2017 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 Hungary ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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