Bulgaria: Motor Vehicle Engine Market 2025

Motor Vehicle Engine Market Size in Bulgaria

In 2021, the Bulgarian motor vehicle engine market decreased by -14.2% to $X for the first time since 2011, thus ending a nine-year rising trend. In general, consumption, however, enjoyed a buoyant increase. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Motor Vehicle Engine Production in Bulgaria

In value terms, motor vehicle engine production reduced notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 50%. Motor vehicle engine production peaked at $X in 2020, and then reduced sharply in the following year.

Motor Vehicle Engine Exports

Exports from Bulgaria

In 2021, motor vehicle engine exports from Bulgaria shrank significantly to X tons, with a decrease of -18.6% on the previous year's figure. Overall, exports, however, recorded slight growth. The growth pace was the most rapid in 2017 with an increase of 97%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, motor vehicle engine exports fell slightly to $X in 2021. Over the period under review, exports, however, recorded a resilient increase. The growth pace was the most rapid in 2013 with an increase of 91% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then contracted in the following year.

Exports by Country

Egypt (X tons), Greece (X tons) and Ghana (X tons) were the main destinations of motor vehicle engine exports from Bulgaria, with a combined 69% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +132.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for motor vehicle engines (spark-ignition) exports from Bulgaria, comprising 38% of total exports. The second position in the ranking was taken by Greece ($X), with a 15% share of total exports. It was followed by Egypt, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+91.8% per year) and Egypt (+1.1% per year).

Export Prices by Country

The average motor vehicle engine export price stood at $X per ton in 2021, jumping by 21% against the previous year. Overall, the export price enjoyed a strong expansion. The growth pace was the most rapid in 2019 when the average export price increased by 127%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+26.6%), while the prices for the other major destinations experienced mixed trend patterns.

Motor Vehicle Engine Imports

Imports into Bulgaria

In 2021, approx. X tons of motor vehicle engines (spark-ignition) were imported into Bulgaria; with a decrease of -9.3% compared with 2020. Overall, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 57%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, motor vehicle engine imports soared to $X in 2021. In general, imports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2013 when imports increased by 72%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of motor vehicle engine to Bulgaria, with a 47% share of total imports. Moreover, motor vehicle engine imports from the UK exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from the UK totaled +61.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+28.4% per year) and Germany (-7.6% per year).

In value terms, Slovakia ($X), the UK ($X) and Germany ($X) constituted the largest motor vehicle engine suppliers to Bulgaria, together comprising 67% of total imports. Hungary, Italy, France, Greece, China, Russia, the United States and Belgium lagged somewhat behind, together accounting for a further 25%.

Greece, with a CAGR of +77.2%, recorded the highest rates of growth with regard to 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 2021, the average motor vehicle engine import price amounted to $X per ton, rising by 29% against the previous year. In general, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +9.0% 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 2015 an increase of 44%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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