Bulgaria: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in Bulgaria

In 2022, the Bulgarian electromagnetic lifting head market increased by 9.3% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a buoyant expansion. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in years to come.

Electromagnetic Lifting Head Production in Bulgaria

In value terms, electromagnetic lifting head production fell to $X in 2022 estimated in export price. Overall, production enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 868%. As a result, production reached the peak level of $X, and then declined in the following year.

Electromagnetic Lifting Head Exports

Exports from Bulgaria

In 2022, overseas shipments of electromagnets and electromagnetic lifting heads decreased by -45.6% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2019 with an increase of 1,233% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, electromagnetic lifting head exports reduced notably to $X in 2022. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 609% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for electromagnetic lifting head exports from Bulgaria, accounting for a 83% share of total exports. Moreover, electromagnetic lifting head exports to Germany exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold. The third position in this ranking was taken by Turkey (X tons), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +55.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+121.8% per year) and Turkey (-1.2% per year).

In value terms, Germany ($X) remains the key foreign market for electromagnets and electromagnetic lifting heads exports from Bulgaria, comprising 60% of total exports. The second position in the ranking was taken by Sweden ($X), with a 21% share of total exports. It was followed by Switzerland, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +60.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+132.7% per year) and Switzerland (+81.0% per year).

Export Prices by Country

The average electromagnetic lifting head export price stood at $X per ton in 2022, jumping by 44% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 75%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Germany ($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 Sweden (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electromagnetic Lifting Head Imports

Imports into Bulgaria

In 2022, approx. X tons of electromagnets and electromagnetic lifting heads were imported into Bulgaria; increasing by 35% on the previous year's figure. Over the period under review, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 59% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, electromagnetic lifting head imports surged to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 61%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest electromagnetic lifting head supplier to Bulgaria, accounting for a 68% share of total imports. Moreover, electromagnetic lifting head imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +44.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.1% per year) and Italy (+3.2% per year).

In value terms, China ($X), Germany ($X) and Japan ($X) constituted the largest electromagnetic lifting head suppliers to Bulgaria, together accounting for 78% of total imports.

Japan, with a CAGR of +213.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electromagnetic lifting head import price stood at $X per ton in 2022, increasing by 1.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 50% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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