Bulgaria: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Bulgaria

The Bulgarian hydraulic jack market dropped dramatically to $X in 2022, declining by -15.8% against the previous year. Over the period under review, consumption, however, posted a resilient increase. Hydraulic jack consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Hydraulic Jack Production in Bulgaria

In value terms, hydraulic jack production declined to $X in 2022 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +91.9% against 2012 indices. The growth pace was the most rapid in 2021 when the production volume increased by 16% against the previous year. As a result, production attained the peak level of $X, and then reduced in the following year.

Hydraulic Jack Exports

Exports from Bulgaria

After two years of decline, shipments abroad of hydraulic jacks and hoists for raising vehicles increased by 12% to X units in 2022. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 405% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, hydraulic jack exports rose remarkably to $X in 2022. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 161% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Italy (X units) was the main destination for hydraulic jack exports from Bulgaria, with a 81% share of total exports. Moreover, hydraulic jack exports to Italy exceeded the volume sent to the second major destination, Romania (X units), more than tenfold. The third position in this ranking was taken by the Czech Republic (X units), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+19.0% per year) and the Czech Republic (+3.7% per year).

In value terms, Italy ($X), Greece ($X) and the Czech Republic ($X) appeared to be the largest markets for hydraulic jack exported from Bulgaria worldwide, with a combined 84% share of total exports.

Among the main countries of destination, Greece, with a CAGR of +105.6%, recorded 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

The average hydraulic jack export price stood at $X per unit in 2022, which is down by -1.6% against the previous year. Overall, the export price continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2021 when the average export price increased by 51% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per unit), while the average price for exports to Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+55.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Jack Imports

Imports into Bulgaria

In 2022, overseas purchases of hydraulic jacks and hoists for raising vehicles decreased by -12.4% to X units, falling for the third consecutive year after five years of growth. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 34% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, hydraulic jack imports reduced to $X in 2022. Over the period under review, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 64%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hydraulic jack to Bulgaria, accounting for a 62% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Poland (X units), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+31.2% per year) and Poland (+67.5% per year).

In value terms, the largest hydraulic jack suppliers to Bulgaria were China ($X), Poland ($X) and Italy ($X), with a combined 74% share of total imports.

Poland, with a CAGR of +71.9%, saw the highest growth rate of the value of imports, in terms of 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 jack import price stood at $X per unit in 2022, picking up by 7.6% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydraulic jack import price increased by +59.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 48%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Italy ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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