Bulgaria: Motorised Invalid Carriage Market 2024

Motorised Invalid Carriage Market Size in Bulgaria

After three years of decline, the Bulgarian motorised invalid carriage market increased by 91% to $X in 2021. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Motorised Invalid Carriage Exports

Exports from Bulgaria

In 2021, shipments abroad of invalid carriages motorised or mechanically propelled increased by 37% to X units, rising for the sixth consecutive year after three years of decline. Over the period under review, exports saw a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 367%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, motorised invalid carriage exports skyrocketed to $X in 2021. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 375%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Iraq (X units) was the main destination for motorised invalid carriage exports from Bulgaria, accounting for a 76% share of total exports. Moreover, motorised invalid carriage exports to Iraq exceeded the volume sent to the second major destination, North Macedonia (X units), more than tenfold. Greece (X units) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iraq totaled +62.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+25.8% per year) and Greece (0.0% per year).

In value terms, the largest markets for motorised invalid carriage exported from Bulgaria were North Macedonia ($X), Iraq ($X) and the UK ($X), together comprising 57% of total exports.

Iraq, with a CAGR of +68.1%, 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 motorised invalid carriage export price stood at $X per unit in 2021, reducing by -5.5% against the previous year. Overall, the export price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 942% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Iraq ($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 the United States (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Motorised Invalid Carriage Imports

Imports into Bulgaria

In 2021, overseas purchases of invalid carriages motorised or mechanically propelled were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, motorised invalid carriage imports soared to $X in 2021. Overall, imports recorded measured growth. The pace of growth appeared the most rapid in 2017 when imports increased by 43% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X units) constituted the largest motorised invalid carriage supplier to Bulgaria, with a 62% share of total imports. Moreover, motorised invalid carriage imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Germany (X units) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.1% per year) and Germany (-6.1% per year).

In value terms, the largest motorised invalid carriage suppliers to Bulgaria were China ($X), Turkey ($X) and Poland ($X), together accounting for 78% of total imports.

Among the main suppliers, Poland, with a CAGR of +14.9%, recorded 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

In 2021, the average motorised invalid carriage import price amounted to $X per unit, with a decrease of -35.3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 65% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+40.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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