Bulgaria: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Bulgaria

In 2021, the Bulgarian ball bearing parts market decreased by -39.5% to $X, falling for the third consecutive year after two years of growth. Overall, consumption continues to indicate a deep contraction. Ball bearing parts consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Ball Bearing Parts Production in Bulgaria

In value terms, ball bearing parts production surged to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. Ball bearing parts production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Ball Bearing Parts Exports

Exports from Bulgaria

In 2021, overseas shipments of parts of ball or roller bearings increased by 47% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 57%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, ball bearing parts exports soared to $X in 2021. The total export value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons), Italy (X tons) and Ukraine (X tons) were the main destinations of ball bearing parts exports from Bulgaria, with a combined 75% share of total exports. Germany, Poland and Romania lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +144.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and Germany ($X) appeared to be the largest markets for ball bearing parts exported from Bulgaria worldwide, together comprising 72% of total exports. Ukraine, Romania and Poland lagged somewhat behind, together accounting for a further 14%.

Among the main countries of destination, Poland, with a CAGR of +80.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the export price recorded a pronounced slump. The pace of growth was the most pronounced in 2018 an increase of 9.8%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Poland ($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 Ukraine (-0.6%), while the prices for the other major destinations experienced a decline.

Ball Bearing Parts Imports

Imports into Bulgaria

In 2021, imports of parts of ball or roller bearings into Bulgaria skyrocketed to X tons, growing by 19% compared with the year before. Overall, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +25.3% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 27%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, ball bearing parts imports soared to $X in 2021. The total import value increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing parts to Bulgaria, with a 82% share of total imports. Moreover, ball bearing parts imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+78.3% per year) and Italy (-0.7% per year).

In value terms, China ($X) constituted the largest supplier of parts of ball or roller bearings to Bulgaria, comprising 67% of total imports. The second position in the ranking was held by Turkey ($X), with a 5.8% share of total imports. It was followed by Italy, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+78.0% per year) and Italy (+2.3% per year).

Import Prices by Country

In 2021, the average ball bearing parts import price amounted to $X per ton, rising by 10% against the previous year. Overall, the import price, however, showed a perceptible reduction. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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