Bulgaria: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2024

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Bulgaria

In 2022, the Bulgarian market for electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by X% to $X, falling for the second year in a row after six years of growth. In general, consumption, however, saw a noticeable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Bulgaria

In value terms, lighting equipment for motor vehicles production totaled $X in 2022 estimated in export price. In general, production continues to indicate resilient growth. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports from Bulgaria

In 2022, approx. X units of electrical lighting or visual signaling equipment for motor vehicles and cycles were exported from Bulgaria; with an increase of X% on the previous year. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, lighting equipment for motor vehicles exports surged to $X in 2022. Over the period under review, exports posted a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X units) was the main destination for lighting equipment for motor vehicles exports from Bulgaria, with a X% share of total exports. Moreover, lighting equipment for motor vehicles exports to Germany exceeded the volume sent to the second major destination, Romania (X units), sevenfold. The Czech Republic (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and the Czech Republic (X% per year).

In value terms, Germany ($X) remains the key foreign market for electrical lighting or visual signaling equipment for motor vehicles and cycles exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Romania ($X), with a X% share of total exports. It was followed by the Czech Republic, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and the Czech Republic (X% per year).

Export Prices by Country

The average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles stood at $X per unit in 2022, increasing by X% against the previous year. In general, the export price, however, recorded a slight slump. The pace of growth was the most pronounced in 2015 an increase of X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Czech Republic ($X per unit) and Turkey ($X per unit), while the average price for exports to Greece ($X per unit) and Poland ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports into Bulgaria

For the fourth consecutive year, Bulgaria recorded growth in overseas purchases of electrical lighting or visual signaling equipment for motor vehicles and cycles, which increased by X% to X units in 2022. Over the period under review, imports recorded a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lighting equipment for motor vehicles imports soared to $X in 2022. Overall, imports posted a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), Turkey (X units) and Poland (X units) were the main suppliers of lighting equipment for motor vehicles imports to Bulgaria, with a combined X% share of total imports. China, the Netherlands, France, Slovenia, Hungary, the Czech Republic, Taiwan (Chinese), Slovakia and Romania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lighting equipment for motor vehicles suppliers to Bulgaria were Germany ($X), Turkey ($X) and Poland ($X), with a combined X% share of total imports. China, the Netherlands, France, Slovenia, Taiwan (Chinese), Hungary, the Czech Republic, Romania and Slovakia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Slovakia, with a CAGR of X%, recorded the highest growth rate of 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 2022, the average import price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $X per unit, shrinking by X% against the previous year. Overall, the import price recorded a pronounced decline. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Taiwan (Chinese) ($X per unit) and France ($X per unit), while the price for Turkey ($X per unit) and Slovenia ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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