Bulgaria: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Bulgaria

In 2021, the Bulgarian oil dispensing pump market increased by 53% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption enjoyed a significant increase. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports from Bulgaria

In 2021, overseas shipments of petrol and oil dispensing pumps increased by 60% to X units, rising for the fourth consecutive year after two years of decline. Overall, exports showed prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 181% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, oil dispensing pump exports reduced to $X in 2021. Over the period under review, exports saw moderate growth. The pace of growth appeared the most rapid in 2013 with an increase of 167% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Greece (X units) was the main destination for oil dispensing pump exports from Bulgaria, with a 48% share of total exports. Moreover, oil dispensing pump exports to Greece exceeded the volume sent to the second major destination, North Macedonia (X units), twofold. Serbia (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece stood at +21.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+23.9% per year) and Serbia (+35.8% per year).

In value terms, the largest markets for oil dispensing pump exported from Bulgaria were Greece ($X), India ($X) and North Macedonia ($X), with a combined 81% share of total exports. These countries were followed by Serbia, Armenia and Kosovo, which together accounted for a further 18%.

Kosovo, with a CAGR of +45.7%, 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

In 2021, the average oil dispensing pump export price amounted to $X per unit, shrinking by -44.4% against the previous year. Overall, the export price showed a deep contraction. The growth pace was the most rapid in 2017 an increase of 59%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Kosovo ($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 Romania (+14.7%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Bulgaria

In 2021, the amount of petrol and oil dispensing pumps imported into Bulgaria skyrocketed to X units, rising by 55% against 2020. In general, imports posted significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 1,460% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, oil dispensing pump imports soared to $X in 2021. Overall, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 278% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The Netherlands (X units), Germany (X units) and Italy (X units) were the main suppliers of oil dispensing pump imports to Bulgaria, together accounting for 73% of total imports. These countries were followed by the Czech Republic, Poland and China, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +90.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Italy ($X) constituted the largest oil dispensing pump suppliers to Bulgaria, together accounting for 84% of total imports. These countries were followed by the Czech Republic, Poland and China, which together accounted for a further 12%.

Poland, with a CAGR of +58.2%, recorded the highest growth rate of the value of imports, in terms of 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 oil dispensing pump import price amounted to $X per unit, waning by -8.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 an increase of 74% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 ($X per unit), while the price for China ($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 (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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