Bulgaria: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Bulgaria

The Bulgarian inflatable vessel market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption posted a prominent increase. Inflatable vessel consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Inflatable Vessel Exports

Exports from Bulgaria

In 2021, approx. X units of inflatable vessels for pleasure or sports were exported from Bulgaria; rising by 303% on 2020. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 1,214% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, inflatable vessel exports surged to $X in 2021. Over the period under review, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 1,054%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Greece (X units) was the main destination for inflatable vessel exports from Bulgaria, accounting for a 78% share of total exports. Moreover, inflatable vessel exports to Greece exceeded the volume sent to the second major destination, Romania (X units), eightfold. The third position in this ranking was taken by Italy (X units), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to Greece stood at +44.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+22.0% per year) and Italy (-21.1% per year).

In value terms, Greece ($X) remains the key foreign market for inflatable vessels for pleasure or sports exports from Bulgaria, comprising 69% of total exports. The second position in the ranking was held by Italy ($X), with a 22% share of total exports. It was followed by Romania, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to Greece stood at +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-13.0% per year) and Romania (+13.2% per year).

Export Prices by Country

In 2021, the average inflatable vessel export price amounted to $X per unit, rising by 47% against the previous year. In general, the export price, however, saw a noticeable reduction. The growth pace was the most rapid in 2020 an increase of 94% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

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 Italy ($X per unit), while the average price for exports to the Netherlands ($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 Italy (+9.8%), while the prices for the other major destinations experienced a decline.

Inflatable Vessel Imports

Imports into Bulgaria

In 2021, after two years of decline, there was significant growth in purchases abroad of inflatable vessels for pleasure or sports, when their volume increased by 161% to X units. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 192%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, inflatable vessel imports soared to $X in 2021. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 121%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Romania (X units), Ukraine (X units) and Germany (X units) were the main suppliers of inflatable vessel imports to Bulgaria, together accounting for 67% of total imports. China, the Czech Republic, Portugal and Russia lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +80.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest inflatable vessel suppliers to Bulgaria were Ukraine ($X), Portugal ($X) and Romania ($X), together accounting for 60% of total imports. China, the Czech Republic, Russia and Germany lagged somewhat behind, together comprising a further 20%.

Russia, with a CAGR of +45.5%, saw 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 inflatable vessel import price stood at $X per unit in 2021, reducing by -31.4% against the previous year. Over the period under review, the import price recorded a slight reduction. The growth pace was the most rapid in 2016 when the average import price increased by 124% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a 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 Portugal ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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