Bulgaria: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Bulgaria

The Bulgarian needle roller bearing market surged to $X in 2021, picking up by 59% 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 showed strong growth. Needle roller bearing consumption peaked in 2021 and is likely to see steady growth in the near future.

Needle Roller Bearing Exports

Exports from Bulgaria

In 2021, after two years of growth, there was significant decline in shipments abroad of needle roller bearings, when their volume decreased by -23.3% to X tons. Overall, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 312%. As a result, the exports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, needle roller bearing exports dropped rapidly to $X in 2021. Over the period under review, exports, however, saw a tangible increase. The most prominent rate of growth was recorded in 2017 when exports increased by 92% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then declined sharply in the following year.

Exports by Country

Turkey (X tons) was the main destination for needle roller bearing exports from Bulgaria, accounting for a 67% share of total exports. Moreover, needle roller bearing exports to Turkey exceeded the volume sent to the second major destination, Romania (X tons), fivefold. The third position in this ranking was held by Russia (X tons), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey totaled +21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-2.3% per year) and Russia (+25.6% per year).

In value terms, Turkey ($X), Romania ($X) and Russia ($X) appeared to be the largest markets for needle roller bearing exported from Bulgaria worldwide, with a combined 57% share of total exports. These countries were followed by Italy and Hungary, which together accounted for a further 19%.

Italy, with a CAGR of +40.9%, saw the highest rates of growth with regard to 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 needle roller bearing export price amounted to $X per ton, with an increase of 3.8% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 52%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Turkey ($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 Italy (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Bulgaria

In 2021, purchases abroad of needle roller bearings increased by 9.7% to X tons, rising for the fifth year in a row after three years of decline. In general, imports enjoyed resilient growth. The growth pace was the most rapid in 2018 with an increase of 66% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, needle roller bearing imports surged to $X in 2021. Over the period under review, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of needle roller bearing to Bulgaria, accounting for a 48% share of total imports. Moreover, needle roller bearing imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.0% per year) and the Netherlands (+36.9% per year).

In value terms, Germany ($X) constituted the largest supplier of needle roller bearing to Bulgaria, comprising 43% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 19% share of total imports. It was followed by Slovakia, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+35.7% per year) and Slovakia (+396.7% per year).

Import Prices by Country

The average needle roller bearing import price stood at $X per ton in 2021, surging by 48% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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