Bulgaria: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in Bulgaria

In 2022, the Bulgarian electrical insulating fittings market decreased by -2.7% to $X, falling for the fourth year in a row after two years of growth. In general, consumption posted a resilient expansion. Electrical insulating fittings consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Electrical Insulating Fittings Production in Bulgaria

In value terms, electrical insulating fittings production rose markedly to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 58% against the previous year. Electrical insulating fittings production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Electrical Insulating Fittings Exports

Exports from Bulgaria

After three years of growth, overseas shipments of electrical insulating fittings of plastics decreased by -24.4% to X tons in 2022. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 298%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank dramatically in the following year.

In value terms, electrical insulating fittings exports plummeted to $X in 2022. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2017 with an increase of 240% against the previous year. The exports peaked at $X in 2021, and then shrank markedly in the following year.

Exports by Country

Germany (X tons) was the main destination for electrical insulating fittings exports from Bulgaria, with a 45% share of total exports. Moreover, electrical insulating fittings exports to Germany exceeded the volume sent to the second major destination, Turkey (X tons), sixfold. Italy (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +81.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+25.2% per year) and Italy (+16.0% per year).

In value terms, the largest markets for electrical insulating fittings exported from Bulgaria were Germany ($X), Turkey ($X) and Poland ($X), with a combined 33% share of total exports. Paraguay, Romania, Italy, the Czech Republic, the United States, China, Morocco, Slovakia, Portugal and Iran lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, Paraguay, with a CAGR of +147.5%, saw 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

The average electrical insulating fittings export price stood at $X per ton in 2022, waning by -11.2% against the previous year. In general, the export price, however, showed strong growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 131% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports into Bulgaria

After two years of decline, supplies from abroad of electrical insulating fittings of plastics increased by 1.3% to X tons in 2022. Overall, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 148% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, electrical insulating fittings imports declined to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 52% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), the Czech Republic (X tons) and the Netherlands (X tons) were the main suppliers of electrical insulating fittings imports to Bulgaria, with a combined 70% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +209.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of electrical insulating fittings of plastics to Bulgaria, comprising 32% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 11% share of total imports. It was followed by Belgium, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+19.8% per year) and Belgium (+1.6% per year).

Import Prices by Country

The average electrical insulating fittings import price stood at $X per ton in 2022, shrinking by -12.9% against the previous year. In general, the import price recorded a abrupt downturn. The growth pace was the most rapid in 2021 when the average import price increased by 35% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (-4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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