Bulgaria: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Bulgaria

The Bulgarian machine-tool for drilling market surged to $X in 2022, rising by 104% against the previous year. In general, consumption enjoyed a buoyant expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Machine-Tool For Drilling Production in Bulgaria

In value terms, machine-tool for drilling production amounted to $X in 2022 estimated in export price. Overall, production saw a resilient increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 765%. Machine-tool for drilling production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Machine-Tool For Drilling Exports

Exports from Bulgaria

In 2022, the amount of machine-tools for drilling, boring or milling metal exported from Bulgaria skyrocketed to X units, jumping by 141% against the previous year's figure. In general, exports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2019 with an increase of 194% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, machine-tool for drilling exports surged to $X in 2022. Overall, exports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2019 when exports increased by 354% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units), Turkey (X units) and Egypt (X units) were the main destinations of machine-tool for drilling exports from Bulgaria, with a combined 68% share of total exports. The Netherlands, Iran, China, Peru, North Macedonia, Russia, Serbia and India lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +29.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the key foreign market for machine-tools for drilling, boring or milling metal exports from Bulgaria, comprising 83% of total exports. The second position in the ranking was taken by Iran ($X), with a 3.3% share of total exports. It was followed by Egypt, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey amounted to +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+70.5% per year) and Egypt (-13.8% per year).

Export Prices by Country

In 2022, the average machine-tool for drilling export price amounted to $X per unit, which is down by -21.3% against the previous year. Overall, the export price showed a deep slump. The pace of growth appeared the most rapid in 2020 an increase of 59%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Germany ($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 Iran (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Machine-Tool For Drilling Imports

Imports into Bulgaria

In 2022, after two years of decline, there was significant growth in purchases abroad of machine-tools for drilling, boring or milling metal, when their volume increased by 226% to X units. In general, imports posted a significant increase. The growth pace was the most rapid in 2017 when imports increased by 346%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, machine-tool for drilling imports dropped significantly to $X in 2022. Overall, imports, however, showed a slight reduction. The pace of growth was the most pronounced in 2014 when imports increased by 144%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), France (X units) and the United States (X units) were the main suppliers of machine-tool for drilling imports to Bulgaria, with a combined 58% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +78.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of machine-tools for drilling, boring or milling metal to Bulgaria, comprising 33% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by China, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.0% per year) and China (+10.0% per year).

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, falling by -75.2% against the previous year. In general, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of 207%. The import price peaked at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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