Bulgaria: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Bulgaria

In 2022, the Bulgarian gearboxes and speed changers market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption showed a buoyant expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Production of Gearboxes and Speed Changers in Bulgaria

In value terms, gearboxes and speed changers production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Gearboxes and Speed Changers

Exports from Bulgaria

In 2022, the amount of gearboxes and speed changers exported from Bulgaria surged to X tons, growing by X% compared with the year before. Overall, total exports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports expanded significantly to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. 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 attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons), Germany (X tons) and Italy (X tons) were the main destinations of gearboxes and speed changers exports from Bulgaria, together comprising X% of total exports. The United States, Russia, France, Belgium, Greece, the United Arab Emirates, Iran, Finland and Belarus lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gearboxes and speed changers exported from Bulgaria were Turkey ($X), Germany ($X) and Italy ($X), together accounting for X% of total exports. The United States, Russia, France, Greece, Belgium, Iran, Finland, the United Arab Emirates and Belarus lagged somewhat behind, together accounting for a further X%.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, remaining constant against the previous year. In general, the export price recorded a mild decrease. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to the United Arab Emirates ($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 Iran (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Bulgaria

In 2022, the amount of gearboxes and speed changers imported into Bulgaria skyrocketed to X tons, growing by X% against 2021. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, gearboxes and speed changers imports soared to $X in 2022. Over the period under review, imports saw a strong expansion. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Germany (X tons), China (X tons) and Italy (X tons) were the main suppliers of gearboxes and speed changers imports to Bulgaria, together accounting for X% of total imports.

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

In value terms, the largest gearboxes and speed changers suppliers to Bulgaria were Germany ($X), Italy ($X) and China ($X), together comprising X% of total imports.

Among the main suppliers, China, with a CAGR of X%, 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

The average gearboxes and speed changers import price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Switzerland ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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