Bulgaria: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Bulgaria

In 2021, the Bulgarian fuel or lubricating pump market increased by 59% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption posted a resilient increase. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Bulgaria

In 2021, exports of fuel, lubricating or cooling-medium pumps for internal combustion engines from Bulgaria skyrocketed to X units, growing by 100% compared with 2020. Overall, exports saw a significant increase. The growth pace was the most rapid in 2019 when exports increased by 334%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, fuel or lubricating pump exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 280%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Greece (X units), Serbia (X units) and Romania (X units) were the main destinations of fuel or lubricating pump exports from Bulgaria, together accounting for 54% of total exports. Turkey, Kosovo, Albania, Germany, Poland, France, the UK, India, North Macedonia and Egypt lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kosovo (with a CAGR of +106.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fuel or lubricating pump exported from Bulgaria were Greece ($X), Romania ($X) and Serbia ($X), with a combined 42% share of total exports. Germany, Poland, Turkey, Albania, France, the UK, Kosovo, India, North Macedonia and Egypt lagged somewhat behind, together comprising a further 37%.

In terms of the main countries of destination, Kosovo, with a CAGR of +123.1%, 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

In 2021, the average fuel or lubricating pump export price amounted to $X per unit, falling by -28% against the previous year. Overall, the export price saw a abrupt curtailment. The growth pace was the most rapid in 2016 an increase of 23% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Egypt ($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 Kosovo (+8.2%), while the prices for the other major destinations experienced a decline.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Bulgaria

In 2021, approx. X units of fuel, lubricating or cooling-medium pumps for internal combustion engines were imported into Bulgaria; picking up by 86% compared with the previous year. Overall, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fuel or lubricating pump imports soared to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of fuel or lubricating pump to Bulgaria, with a 31% share of total imports. Moreover, fuel or lubricating pump imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was held by Poland (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +24.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.2% per year) and Poland (+39.9% per year).

In value terms, Germany ($X) constituted the largest supplier of fuel, lubricating or cooling-medium pumps for internal combustion engines to Bulgaria, comprising 33% of total imports. The second position in the ranking was taken by Romania ($X), with a 12% share of total imports. It was followed by Poland, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+22.3% per year) and Poland (+33.9% per year).

Import Prices by Country

The average fuel or lubricating pump import price stood at $X per unit in 2021, dropping by -22.9% against the previous year. Over the period under review, the import price saw a drastic downturn. The most prominent rate of growth was recorded in 2015 an increase of 60% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Romania ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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