Bulgaria: Internal Combustion Engines Market 2025

Internal Combustion Engines Market Size in Bulgaria

The Bulgarian internal combustion engines market dropped to $X in 2021, shrinking by -11.5% against the previous year. Over the period under review, consumption saw a slight contraction. Internal combustion engines consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Internal Combustion Engines Production in Bulgaria

In value terms, internal combustion engines production dropped to $X in 2021 estimated in export price. Overall, production saw a slight contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 31%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Internal Combustion Engines Exports

Exports from Bulgaria

In 2021, shipments abroad of motor vehicles compression-ignition internal combustion piston engines increased by 57% to X units, rising for the third year in a row after two years of decline. In general, exports enjoyed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, internal combustion engines exports declined remarkably to $X in 2021. Over the period under review, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 402%. As a result, the exports attained the peak of $X, and then plummeted in the following year.

Exports by Country

Georgia (X units) was the main destination for internal combustion engines exports from Bulgaria, with a 50% share of total exports. Moreover, internal combustion engines exports to Georgia exceeded the volume sent to the second major destination, Turkey (X units), twofold. Nigeria (X units) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Georgia stood at +51.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+82.5% per year) and Nigeria (+15.2% per year).

In value terms, Turkey ($X), Georgia ($X) and Ghana ($X) appeared to be the largest markets for internal combustion engines exported from Bulgaria worldwide, with a combined 53% share of total exports.

Ghana, with a CAGR of +175.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average internal combustion engines export price amounted to $X per unit, which is down by -64.3% against the previous year. Overall, the export price, however, enjoyed a mild expansion. The growth pace was the most rapid in 2020 when the average export price increased by 310% against the previous year. As a result, the export price attained the peak level of $X per unit, and then reduced sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Cyprus ($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 Russia (+77.1%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Bulgaria

In 2021, purchases abroad of motor vehicles compression-ignition internal combustion piston engines decreased by -34% to X units for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 372%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, internal combustion engines imports reduced rapidly to $X in 2021. Overall, imports, however, showed a temperate increase. The growth pace was the most rapid in 2014 when imports increased by 300%. 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

France (X units), Germany (X units) and Slovakia (X units) were the main suppliers of internal combustion engines imports to Bulgaria, with a combined 56% share of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +21.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of motor vehicles compression-ignition internal combustion piston engines to Bulgaria, comprising 32% of total imports. The second position in the ranking was taken by France ($X), with a 13% share of total imports. It was followed by the UK, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+11.4% per year) and the UK (+15.0% per year).

Import Prices by Country

In 2021, the average internal combustion engines import price amounted to $X per unit, increasing by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2015 an increase of 86%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+339.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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