Bulgaria: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Bulgaria

The Bulgarian hydraulic cylinder and system market fell slightly to $X in 2022, reducing by -3.1% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Hydraulic Cylinders And Systems in Bulgaria

In value terms, hydraulic cylinder and system production soared to $X in 2022 estimated in export price. In general, production, however, enjoyed a moderate expansion. Hydraulic cylinder and system production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Bulgaria

In 2022, exports of hydraulic cylinders and systems from Bulgaria contracted to X units, declining by -12.6% compared with 2021. In general, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% 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 +16.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 34% against the previous year. As a result, the exports reached the peak of X units, and then fell in the following year.

In value terms, hydraulic cylinder and system exports soared to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 51% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Austria (X units), France (X units) and Germany (X units) were the main destinations of hydraulic cylinder and system exports from Bulgaria, together accounting for 74% of total exports. Slovenia, the Netherlands, Poland, Denmark, the United States, Italy, Turkey and Russia lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +58.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydraulic cylinder and system exported from Bulgaria were Austria ($X), France ($X) and Germany ($X), together accounting for 69% of total exports. The Netherlands, Denmark, the United States, Slovenia, Poland, Turkey, Italy and Russia lagged somewhat behind, together comprising a further 22%.

Poland, with a CAGR of +70.6%, saw 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 more modest paces of growth.

Export Prices by Country

In 2022, the average hydraulic cylinder and system export price amounted to $X per thousand units, surging by 43% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydraulic cylinder and system export price increased by +56.0% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per thousand units), while the average price for exports to France ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Bulgaria

In 2022, supplies from abroad of hydraulic cylinders and systems decreased by -17.8% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 55% against the previous year. As a result, imports reached the peak of X units, and then declined notably in the following year.

In value terms, hydraulic cylinder and system imports shrank to $X in 2022. Overall, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 65% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Austria (X units), Belarus (X units) and Germany (X units) were the main suppliers of hydraulic cylinder and system imports to Bulgaria, with a combined 46% share of total imports. Russia, Turkey, France, Italy, Switzerland, Poland, Spain, Saudi Arabia, Sweden and Belgium lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +142.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hydraulic cylinder and system suppliers to Bulgaria were Germany ($X), Austria ($X) and Belarus ($X), with a combined 40% share of total imports. Switzerland, Italy, Poland, France, Saudi Arabia, Turkey, Russia, Spain, Belgium and Sweden lagged somewhat behind, together comprising a further 40%.

Saudi Arabia, with a CAGR of +121.6%, recorded the highest rates of growth with regard to 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 hydraulic cylinder and system import price stood at $X per unit in 2022, with an increase of 15% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydraulic cylinder and system import price increased by +12.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of 17% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Saudi Arabia ($X per unit), while the price for Russia (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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