Bulgaria: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in Bulgaria

In 2021, the Bulgarian mounting lifting equipment market decreased by -23.2% to $X, falling for the second year in a row after five years of growth. In general, consumption, however, posted a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Mounting Lifting Equipment Production in Bulgaria

In value terms, mounting lifting equipment production declined to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 119% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Mounting Lifting Equipment Exports

Exports from Bulgaria

In 2021, mounting lifting equipment exports from Bulgaria skyrocketed to X units, with an increase of 240% against the previous year's figure. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 325%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, mounting lifting equipment exports soared to $X in 2021. In general, exports saw noticeable growth. The pace of growth appeared the most rapid in 2018 when exports increased by 213%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

Exports by Country

Romania (X units) was the main destination for mounting lifting equipment exports from Bulgaria, with a 68% share of total exports. Moreover, mounting lifting equipment exports to Romania exceeded the volume sent to the second major destination, the Netherlands (X units), threefold. The third position in this ranking was held by Kazakhstan (X units), with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania amounted to +26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+41.4% per year) and Kazakhstan (+900.0% per year).

In value terms, Romania ($X) remains the key foreign market for lifting equipment designed for mounting on road vehicles exports from Bulgaria, comprising 77% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 16% share of total exports. It was followed by Kazakhstan, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania stood at +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+119.2% per year) and Kazakhstan (+1,215.4% per year).

Export Prices by Country

In 2021, the average mounting lifting equipment export price amounted to $X per unit, declining by -31.4% against the previous year. Overall, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 32% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Iran ($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 Turkey (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.

Mounting Lifting Equipment Imports

Imports into Bulgaria

After two years of decline, overseas purchases of lifting equipment designed for mounting on road vehicles increased by 96% to X units in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, mounting lifting equipment imports soared to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Romania (X units) constituted the largest mounting lifting equipment supplier to Bulgaria, with a 34% share of total imports. Moreover, mounting lifting equipment imports from Romania exceeded the figures recorded by the second-largest supplier, Spain (X units), twofold. The third position in this ranking was held by Germany (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Romania stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+91.9% per year) and Germany (+6.9% per year).

In value terms, Romania ($X) constituted the largest supplier of lifting equipment designed for mounting on road vehicles to Bulgaria, comprising 37% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by Slovakia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Romania amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.5% per year) and Slovakia (-3.3% per year).

Import Prices by Country

The average mounting lifting equipment import price stood at $X per unit in 2021, falling by -3.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 35% 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 failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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