Bulgaria: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2022

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Bulgaria

In 2021, the Bulgarian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -31.3% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption saw a noticeable decrease. Grease fittings and oil seals consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Bulgaria

In value terms, grease fittings and oil seals production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 475% against the previous year. Grease fittings and oil seals production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports from Bulgaria

In 2021, shipments abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 192% to X units, rising for the second year in a row after three years of decline. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 252% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, grease fittings and oil seals exports surged to $X in 2021. In general, total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), Germany (X units) and Italy (X units) were the main destinations of grease fittings and oil seals exports from Bulgaria, with a combined 74% share of total exports.

From 2012 to 2021, the biggest increases were in Italy (with a CAGR of +34.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Italy ($X) appeared to be the largest markets for grease fittings and oil seals exported from Bulgaria worldwide, with a combined 59% share of total exports.

Italy, with a CAGR of +19.2%, recorded the highest rates of growth with regard to the value of exports, among 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

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, falling by -40.5% against the previous year. In general, the export price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the average export price increased by 43% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Turkey ($X per unit), while the average price for exports to Poland ($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 France (-11.1%), while the prices for the other major destinations experienced a decline.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports into Bulgaria

In 2021, purchases abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 34% to X units, rising for the fourth year in a row after two years of decline. Over the period under review, imports recorded a strong expansion. The growth pace was the most rapid in 2020 with an increase of 100%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, grease fittings and oil seals imports surged to $X in 2021. In general, imports posted resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 51% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Turkey (X units), Spain (X units) and Germany (X units) were the main suppliers of grease fittings and oil seals imports to Bulgaria, together comprising 71% of total imports.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +48.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest grease fittings and oil seals suppliers to Bulgaria were Germany ($X), Turkey ($X) and Italy ($X), with a combined 67% share of total imports. These countries were followed by the Netherlands, Poland, China, Greece, Spain and Austria, which together accounted for a further 18%.

China, with a CAGR of +50.8%, 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

In 2021, the average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, falling by -10.8% against the previous year. In general, the import price showed a perceptible curtailment. The growth pace was the most rapid in 2017 when the average import price increased by 43%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Spain ($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 (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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