Bulgaria: Power Tool Market 2024

Power Tool Market Size in Bulgaria

The Bulgarian power tool market soared to $X in 2021, increasing by 45% 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 saw a prominent expansion. Power tool consumption peaked in 2021 and is likely to continue growth in years to come.

Power Tool Exports

Exports from Bulgaria

In 2021, approx. X units of power tools were exported from Bulgaria; shrinking by -2.6% against the year before. In general, exports saw a pronounced slump. The pace of growth appeared the most rapid in 2014 with an increase of 113% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, power tool exports totaled $X in 2021. Overall, exports showed a noticeable reduction. The growth pace was the most rapid in 2017 when exports increased by 33%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X units) was the main destination for power tool exports from Bulgaria, with a 41% share of total exports. Moreover, power tool exports to Romania exceeded the volume sent to the second major destination, Germany (X units), twofold. Greece (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania amounted to +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-11.5% per year) and Greece (+21.4% per year).

In value terms, Romania ($X), Germany ($X) and Greece ($X) were the largest markets for power tool exported from Bulgaria worldwide, together comprising 67% of total exports. Poland, Serbia, North Macedonia, Bosnia and Herzegovina, Croatia and France lagged somewhat behind, together comprising a further 17%.

In terms of the main countries of destination, Serbia, with a CAGR of +45.5%, 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 power tool export price amounted to $X per unit, with an increase of 4% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 80% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat 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 France ($X per unit), while the average price for exports to Croatia ($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 Latvia (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Bulgaria

For the fifth consecutive year, Bulgaria recorded growth in overseas purchases of power tools, which increased by 36% to X units in 2021. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 40% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, power tool imports skyrocketed to $X in 2021. In general, imports showed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest power tool supplier to Bulgaria, with a 64% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. Romania (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.2% per year) and Romania (+7.2% per year).

In value terms, the largest power tool suppliers to Bulgaria were China ($X), Romania ($X) and Germany ($X), together comprising 73% of total imports. Austria, Poland and Slovenia lagged somewhat behind, together accounting for a further 17%.

Among the main suppliers, Poland, with a CAGR of +32.6%, 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 power tool import price amounted to $X per unit, growing by 4.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 11%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :