Bulgaria: Grinding Machine Market 2024

Grinding Machine Market Size in Bulgaria

The Bulgarian grinding machine market contracted to $X in 2021, with a decrease of -14.5% against the previous year. Overall, consumption, however, enjoyed a tangible expansion. Grinding machine consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Grinding Machine Production in Bulgaria

In value terms, grinding machine production reduced to $X in 2021 estimated in export price. Overall, production saw a pronounced curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 76% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Grinding Machine Exports

Exports from Bulgaria

In 2021, shipments abroad of machines having individual functions, for mixing, kneading, crushing or grinding decreased by -41.1% to X units, falling for the second consecutive year after four years of growth. Over the period under review, exports showed a noticeable decline. The most prominent rate of growth was recorded in 2016 with an increase of 93% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, grinding machine exports contracted remarkably to $X in 2021. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 130%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X units), Greece (X units) and the United States (X units) were the main destinations of grinding machine exports from Bulgaria, with a combined 72% share of total exports. These countries were followed by South Africa, Germany, Turkey and Ukraine, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +64.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X) remains the key foreign market for machines having individual functions, for mixing, kneading, crushing or grinding exports from Bulgaria, comprising 38% of total exports. The second position in the ranking was held by Germany ($X), with a 17% share of total exports. It was followed by Hungary, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece stood at +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+135.9% per year) and Hungary (+35.4% per year).

Export Prices by Country

In 2021, the average grinding machine export price amounted to $X per unit, picking up by 14% against the previous year. Over the period under review, the export price continues to indicate prominent growth. The pace of growth was the most pronounced in 2018 an increase of 98% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to the United States ($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 Germany (+42.0%), while the prices for the other major destinations experienced more modest paces of growth.

Grinding Machine Imports

Imports into Bulgaria

In 2021, imports of machines having individual functions, for mixing, kneading, crushing or grinding into Bulgaria contracted sharply to X units, waning by -19.8% against 2020 figures. Over the period under review, imports, however, saw a modest increase. The pace of growth was the most pronounced in 2014 with an increase of 234%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, grinding machine imports declined notably to $X in 2021. Overall, imports, however, saw a tangible expansion. The growth pace was the most rapid in 2014 with an increase of 193% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Turkey (X units) and Germany (X units) were the main suppliers of grinding machine imports to Bulgaria, with a combined 57% share of total imports. Italy, Austria, Belarus, Greece, Finland, Sweden, Moldova, Poland, France and Slovakia lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belarus (with a CAGR of +88.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grinding machine suppliers to Bulgaria were Germany ($X), Italy ($X) and China ($X), together accounting for 59% of total imports. Austria, Turkey, Sweden, Finland, Greece, Poland, Belarus, Moldova, France and Slovakia lagged somewhat behind, together accounting for a further 33%.

Turkey, with a CAGR of +70.1%, 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

The average grinding machine import price stood at $X per unit in 2021, increasing by 5.1% against the previous year. In general, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 102%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per unit), while the price for Moldova ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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