Bulgaria: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Bulgaria

The Bulgarian balancing mechanical parts machine market skyrocketed to $X in 2021, with an increase of 32% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a resilient increase. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Bulgaria

In 2021, overseas shipments of machines for balancing mechanical parts increased by 1,104% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports showed a resilient increase. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Overall, exports saw buoyant growth. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Greece (X units) was the main destination for balancing mechanical parts machine exports from Bulgaria, with a 84% share of total exports. Moreover, balancing mechanical parts machine exports to Greece exceeded the volume sent to the second major destination, India (X units), ninefold. The third position in this ranking was taken by Kosovo (X units), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece stood at +155.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-11.2% per year) and Kosovo (+200.0% per year).

In value terms, Greece ($X) emerged as the key foreign market for machines for balancing mechanical parts exports from Bulgaria, comprising 84% of total exports. The second position in the ranking was taken by India ($X), with a 13% share of total exports. It was followed by Georgia, with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece totaled +191.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-12.8% per year) and Georgia (+23.7% per year).

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, jumping by 35% against the previous year. Overall, the export price, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2019 when the average export price increased by 97% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was India ($X per unit), while the average price for exports to Kosovo ($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 Georgia (+64.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Bulgaria

In 2021, approx. X units of machines for balancing mechanical parts were imported into Bulgaria; rising by 26% against 2020. Over the period under review, imports saw a strong increase. The pace of growth was the most pronounced in 2017 when imports increased by 251%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. In general, imports showed a measured expansion. The growth pace was the most rapid in 2017 with an increase of 98%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of balancing mechanical parts machine imports to Bulgaria, with a combined 72% share of total imports. Slovenia, Greece, Poland, Turkey and Austria lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +57.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and China ($X) appeared to be the largest balancing mechanical parts machine suppliers to Bulgaria, with a combined 84% share of total imports. These countries were followed by Poland, Turkey, Greece, Slovenia and Austria, which together accounted for a further 7.9%.

In terms of the main suppliers, Poland, with a CAGR of +57.7%, 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

The average balancing mechanical parts machine import price stood at $X per unit in 2021, jumping by 23% against the previous year. Overall, the import price, however, continues to indicate a abrupt descent. The growth pace was the most rapid in 2018 an increase of 80%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Slovenia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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