Bulgaria: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Bulgaria

The Bulgarian air conditioning machine market dropped slightly to $X in 2022, with a decrease of -4.5% against the previous year. Overall, consumption recorded a noticeable downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Air Conditioning Machine Production in Bulgaria

In value terms, air conditioning machine production soared to $X in 2022 estimated in export price. In general, production recorded a precipitous decline. Air conditioning machine production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Air Conditioning Machine Exports

Exports from Bulgaria

In 2022, the amount of non-window or wall air conditioning machines exported from Bulgaria declined markedly to X units, which is down by -16.2% on the previous year. Over the period under review, exports showed a noticeable downturn. The pace of growth was the most pronounced in 2013 when exports increased by 25%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, air conditioning machine exports expanded markedly to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 25%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Austria (X units) was the main destination for air conditioning machine exports from Bulgaria, accounting for a 69% share of total exports. Moreover, air conditioning machine exports to Austria exceeded the volume sent to the second major destination, Romania (X units), more than tenfold. The third position in this ranking was held by the Netherlands (X units), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to Austria totaled -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+8.3% per year) and the Netherlands (+16.2% per year).

In value terms, Austria ($X) remains the key foreign market for non-window or wall air conditioning machines exports from Bulgaria, comprising 73% of total exports. The second position in the ranking was held by Romania ($X), with a 4.8% share of total exports. It was followed by the Netherlands, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+13.1% per year) and the Netherlands (+21.4% per year).

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, with an increase of 30% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Denmark ($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 Poland (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Bulgaria

In 2022, supplies from abroad of non-window or wall air conditioning machines decreased by -6.6% to X units, falling for the second year in a row after two years of growth. Overall, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2017 with an increase of 11% against the previous year. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, air conditioning machine imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 51%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and Italy (X units) were the main suppliers of air conditioning machine imports to Bulgaria, together accounting for 64% of total imports. Austria, Turkey, Hungary, Singapore, Poland, Spain and Slovakia lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +41.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Italy ($X) were the largest air conditioning machine suppliers to Bulgaria, with a combined 41% share of total imports. Hungary, Slovakia, Austria, Turkey, Poland, Spain and Singapore lagged somewhat behind, together accounting for a further 22%.

Among the main suppliers, Singapore, with a CAGR of +51.3%, 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

In 2022, the average air conditioning machine import price amounted to $X per unit, picking up by 49% against the previous year. In general, the import price enjoyed prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Slovakia ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+27.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform