Bulgaria: Truck Crane Market 2024

Truck Crane Market Size in Bulgaria

The Bulgarian truck crane market surged to $X in 2021, jumping by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Truck Crane Exports

Exports from Bulgaria

In 2021, shipments abroad of truck cranes increased by 23% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2014 with an increase of 114% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, truck crane exports shrank markedly to $X in 2021. In general, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 136%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Serbia (X units) was the main destination for truck crane exports from Bulgaria, with a 40% share of total exports. Moreover, truck crane exports to Serbia exceeded the volume sent to the second major destination, Ghana (X units), threefold. Germany (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Serbia totaled +44.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (0.0% per year) and Germany (+6.7% per year).

In value terms, Germany ($X), Serbia ($X) and Paraguay ($X) constituted the largest markets for truck crane exported from Bulgaria worldwide, with a combined 95% share of total exports. These countries were followed by Jordan and Ghana, which together accounted for a further 5.1%.

Jordan, with a CAGR of +129.4%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average truck crane export price amounted to $X per unit, falling by -62.2% against the previous year. Overall, the export price saw a abrupt setback. The growth pace was the most rapid in 2019 when the average export price increased by 89% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Ghana ($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 Jordan (+53.7%), while the prices for the other major destinations experienced mixed trend patterns.

Truck Crane Imports

Imports into Bulgaria

Truck crane imports into Bulgaria rose rapidly to X units in 2021, picking up by 8.4% on the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 93%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, truck crane imports soared to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 92% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Austria (X units), Romania (X units) and Belgium (X units) were the main suppliers of truck crane imports to Bulgaria, with a combined 40% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +60.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck crane suppliers to Bulgaria were Germany ($X), Austria ($X) and Romania ($X), together comprising 69% of total imports.

Among the main suppliers, Austria, with a CAGR of +69.5%, saw 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

In 2021, the average truck crane import price amounted to $X per unit, picking up by 23% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 130% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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