Bulgaria: Market for Furnace Burners For Solid Fuel Or Gas 2022

Market Size for Furnace Burners For Solid Fuel Or Gas in Bulgaria

The Bulgarian solid fuel furnace burner market soared to $X in 2021, surging by 15% against the previous year. Over the period under review, consumption, however, showed a noticeable shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Furnace Burners For Solid Fuel Or Gas in Bulgaria

In value terms, solid fuel furnace burner production rose to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight downturn. The pace of growth was the most pronounced in 2015 when the production volume increased by 57% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports from Bulgaria

In 2021, shipments abroad of furnace burners for solid fuel or gas was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 121% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, solid fuel furnace burner exports skyrocketed to $X in 2021. In general, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X tons) was the main destination for solid fuel furnace burner exports from Bulgaria, with a 43% share of total exports. Moreover, solid fuel furnace burner exports to Romania exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania stood at +61.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+53.7% per year) and the United Arab Emirates (+238.7% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for solid fuel furnace burner exports from Bulgaria, comprising 71% of total exports. The second position in the ranking was held by Romania ($X), with a 14% share of total exports. It was followed by Germany, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +461.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+51.1% per year) and Germany (+32.6% per year).

Export Prices by Country

The average solid fuel furnace burner export price stood at $X per ton in 2021, growing by 136% against the previous year. In general, the export price posted a prominent expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+68.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports into Bulgaria

Solid fuel furnace burner imports into Bulgaria soared to X tons in 2021, picking up by 32% on 2020 figures. Over the period under review, imports, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 169%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, solid fuel furnace burner imports amounted to $X in 2021. In general, imports, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 23%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), Italy (X tons) and China (X tons) were the main suppliers of solid fuel furnace burner imports to Bulgaria, together accounting for 60% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +463.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Russia ($X) and Italy ($X) constituted the largest solid fuel furnace burner suppliers to Bulgaria, together comprising 62% of total imports.

In terms of the main suppliers, Russia, with a CAGR of +341.6%, recorded 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 solid fuel furnace burner import price amounted to $X per ton, shrinking by -17.1% against the previous year. Overall, the import price saw a slight setback. The most prominent rate of growth was recorded in 2020 when the average import price increased by 252% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Greece ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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