Bulgaria: Horizontal Machining Centre Market 2024

Horizontal Machining Centre Market Size in Bulgaria

For the third consecutive year, the Bulgarian horizontal machining centre market recorded decline in sales value, which decreased by -60.3% to $X in 2021. Over the period under review, consumption saw a deep reduction. Horizontal machining centre consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Horizontal Machining Centre Production in Bulgaria

In value terms, horizontal machining centre production plummeted to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 92%. As a result, production attained the peak level of $X, and then fell significantly in the following year.

Horizontal Machining Centre Exports

Exports from Bulgaria

Horizontal machining centre exports from Bulgaria skyrocketed to X units in 2021, increasing by 27% compared with the year before. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 738% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, horizontal machining centre exports soared to $X in 2021. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2020 with an increase of 533%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Turkey (X units) was the main destination for horizontal machining centre exports from Bulgaria, with a 63% share of total exports. Moreover, horizontal machining centre exports to Turkey exceeded the volume sent to the second major destination, Germany (X units), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled +51.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+67.2% per year) and Iran (-26.9% per year).

In value terms, Germany ($X), Turkey ($X) and Iran ($X) were the largest markets for horizontal machining centre exported from Bulgaria worldwide, together accounting for 92% of total exports.

Germany, with a CAGR of +78.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average horizontal machining centre export price amounted to $X per unit, picking up by 3.9% against the previous year. Overall, the export price posted strong growth. The pace of growth was the most pronounced in 2019 an increase of 243% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Iran ($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 Germany (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Horizontal Machining Centre Imports

Imports into Bulgaria

Horizontal machining centre imports into Bulgaria fell markedly to X units in 2021, dropping by -38.1% on the previous year's figure. In general, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2014 when imports increased by 513%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, horizontal machining centre imports shrank significantly to $X in 2021. Overall, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 240% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest horizontal machining centre supplier to Bulgaria, with a 47% share of total imports. Moreover, horizontal machining centre imports from Germany exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), threefold. The third position in this ranking was held by China (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.6% per year) and China (+12.1% per year).

In value terms, Germany ($X) constituted the largest supplier of horizontal machining centres for working metal to Bulgaria, comprising 53% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 10% share of total imports. It was followed by Belgium, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-7.6% per year) and Belgium (+7.3% per year).

Import Prices by Country

In 2021, the average horizontal machining centre import price amounted to $X per unit, surging by 26% against the previous year. In general, the import price, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2017 an increase of 53%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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