Bulgaria: Loading Machinery Market 2024

Loading Machinery Market Size in Bulgaria

The Bulgarian loading machinery market rose significantly to $X in 2022, with an increase of 14% against the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Loading Machinery Production in Bulgaria

In value terms, loading machinery production reduced markedly to $X in 2022 estimated in export price. In general, production, however, posted perceptible growth. The growth pace was the most rapid in 2015 with an increase of 293%. Loading machinery production peaked at $X in 2021, and then declined sharply in the following year.

Loading Machinery Exports

Exports from Bulgaria

In 2022, approx. X units of lifting, handling, loading or unloading machinery were exported from Bulgaria; shrinking by -15.7% against the previous year. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 104% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, loading machinery exports reduced to $X in 2022. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +69.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 65% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X units) was the main destination for loading machinery exports from Bulgaria, accounting for a 42% share of total exports. Moreover, loading machinery exports to Romania exceeded the volume sent to the second major destination, Ukraine (X units), fourfold. Turkey (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Romania amounted to +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+74.5% per year) and Turkey (+54.0% per year).

In value terms, Romania ($X) remains the key foreign market for lifting, handling, loading or unloading machinery exports from Bulgaria, comprising 52% of total exports. The second position in the ranking was taken by Germany ($X), with a 16% share of total exports. It was followed by Turkey, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to Romania totaled +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.8% per year) and Turkey (+58.2% per year).

Export Prices by Country

In 2022, the average loading machinery export price amounted to $X per unit, increasing by 6.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 an increase of 27%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Serbia ($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 France (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Loading Machinery Imports

Imports into Bulgaria

In 2022, the amount of lifting, handling, loading or unloading machinery imported into Bulgaria reached X units, increasing by 1.9% on 2021 figures. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 57%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, loading machinery imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 27%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X units), Poland (X units) and China (X units) were the main suppliers of loading machinery imports to Bulgaria, together comprising 59% of total imports. The Netherlands, Turkey, Belgium, Italy, France, Lithuania, Romania and the United States lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +34.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest loading machinery suppliers to Bulgaria were Germany ($X), Poland ($X) and Italy ($X), with a combined 61% share of total imports.

Poland, with a CAGR of +32.9%, saw the highest growth rate of 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

In 2022, the average loading machinery import price amounted to $X per unit, increasing by 10% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 31% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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