Bulgaria: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in Bulgaria

In 2021, the Bulgarian wood drilling machine market decreased by -9.4% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, showed a resilient increase. Over the period under review, the market hit record highs at $X in 2020, and then declined in the following year.

Wood Drilling Machine Production in Bulgaria

In value terms, wood drilling machine production declined to $X in 2021 estimated in export price. Overall, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 119%. Over the period under review, production attained the maximum level at $X in 2020, and then fell modestly in the following year.

Wood Drilling Machine Exports

Exports from Bulgaria

In 2021, approx. X units of drilling or morticing machines were exported from Bulgaria; picking up by 54% compared with the previous year's figure. Overall, exports, however, saw a noticeable decline. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood drilling machine exports surged to $X in 2021. In general, exports, however, showed a slight reduction. The growth pace was the most rapid in 2019 when exports increased by 154% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Romania (X units), Russia (X units) and Moldova (X units) were the main destinations of wood drilling machine exports from Bulgaria, together comprising 80% of total exports.

From 2012 to 2021, the biggest increases were recorded for Moldova (with a CAGR of +45.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Russia ($X) and Belarus ($X) were the largest markets for wood drilling machine exported from Bulgaria worldwide, with a combined 90% share of total exports. Moldova, Greece and North Macedonia lagged somewhat behind, together accounting for a further 3%.

Among the main countries of destination, Moldova, with a CAGR of +31.4%, 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 wood drilling machine export price amounted to $X per unit, falling by -6.8% against the previous year. In general, the export price, however, saw perceptible growth. The pace of growth appeared the most rapid in 2013 an increase of 214%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per unit), while the average price for exports to Greece ($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 Serbia (+62.6%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Drilling Machine Imports

Imports into Bulgaria

In 2021, the amount of drilling or morticing machines imported into Bulgaria shrank rapidly to X units, with a decrease of -57.7% against 2020 figures. Over the period under review, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2013 when imports increased by 185%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, wood drilling machine imports soared to $X in 2021. Overall, imports, however, recorded a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Italy (X units) and Turkey (X units) were the main suppliers of wood drilling machine imports to Bulgaria, with a combined 80% share of total imports. Romania, Austria, Poland and Hungary lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +47.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of drilling or morticing machines to Bulgaria, comprising 87% of total imports. The second position in the ranking was taken by Turkey ($X), with a 6.2% share of total imports. It was followed by Austria, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.3% per year) and Austria (+29.8% per year).

Import Prices by Country

In 2021, the average wood drilling machine import price amounted to $X per unit, jumping by 1,424% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+693.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :