Bulgaria: Mounted Objective Lens Market 2024

Mounted Objective Lens Market Size in Bulgaria

The Bulgarian mounted objective lens market amounted to $X in 2022, growing by 12% against the previous year. In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.1% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Mounted Objective Lens Production in Bulgaria

In value terms, mounted objective lens production expanded sharply to $X in 2022 estimated in export price. In general, production recorded a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 49%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Mounted Objective Lens Exports

Exports from Bulgaria

In 2022, approx. X units of mounted objective lenses were exported from Bulgaria; declining by -32.3% against the previous year. In general, exports showed a dramatic decline. The most prominent rate of growth was recorded in 2013 with an increase of 45% against the previous year. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, mounted objective lens exports shrank remarkably to $X in 2022. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 77%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for mounted objective lens exports from Bulgaria, with a 26% share of total exports. Moreover, mounted objective lens exports to the Netherlands exceeded the volume sent to the second major destination, Lithuania (X units), twofold. Malta (X units) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands stood at +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+30.8% per year) and Malta (+85.4% per year).

In value terms, the Netherlands ($X) remains the key foreign market for mounted objective lenses exports from Bulgaria, comprising 42% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 20% share of total exports. It was followed by Israel, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+27.3% per year) and Israel (-5.4% per year).

Export Prices by Country

In 2022, the average mounted objective lens export price amounted to $X per unit, shrinking by -8.9% against the previous year. In general, the export price, however, saw strong growth. The pace of growth appeared the most rapid in 2017 an increase of 148% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Poland ($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 the UK (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Mounted Objective Lens Imports

Imports into Bulgaria

In 2022, the amount of mounted objective lenses imported into Bulgaria soared to X units, rising by 20% compared with 2021 figures. In general, imports, however, showed a pronounced setback. The pace of growth was the most pronounced in 2019 with an increase of 86%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, mounted objective lens imports surged to $X in 2022. Overall, imports, however, continue to indicate a perceptible slump. The growth pace was the most rapid in 2013 when imports increased by 35% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Austria (X units) and Germany (X units) were the main suppliers of mounted objective lens imports to Bulgaria, with a combined 55% share of total imports. Slovakia, the Netherlands, Japan, Switzerland, Greece, France and the UK lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +202.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), China ($X) and Japan ($X) appeared to be the largest mounted objective lens suppliers to Bulgaria, with a combined 45% share of total imports. The Netherlands, Slovakia, Germany, Switzerland, France, Greece and the UK lagged somewhat behind, together comprising a further 44%.

In terms of the main suppliers, Switzerland, with a CAGR of +220.6%, 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 mounted objective lens import price stood at $X per unit in 2022, picking up by 6.6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 142% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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