Bulgaria: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Bulgaria

The Bulgarian primary cell and battery market rose significantly to $X in 2022, increasing by 12% 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). Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +89.9% against 2015 indices. Primary cell and battery consumption peaked in 2022 and is likely to see gradual growth in the near future.

Exports of Primary Cells and Batteries

Exports from Bulgaria

In 2022, overseas shipments of primary cells and batteries decreased by -43.7% to X units, falling for the second year in a row after three years of growth. Overall, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2019 with an increase of 242%. Over the period under review, the exports reached the maximum at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, primary cell and battery exports contracted remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 464%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X units), Greece (X units) and Germany (X units) were the main destinations of primary cell and battery exports from Bulgaria, together accounting for 61% of total exports. Romania, Latvia, Serbia, Poland and Hungary lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +167.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Romania ($X) constituted the largest markets for primary cell and battery exported from Bulgaria worldwide, with a combined 65% share of total exports. Greece, Latvia, Serbia, Poland and Hungary lagged somewhat behind, together accounting for a further 19%.

Among the main countries of destination, Latvia, with a CAGR of +95.6%, saw 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 primary cell and battery export price stood at $X per unit in 2022, rising by 8.7% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 212% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per unit), while the average price for exports to Greece ($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 Hungary (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Primary Cells and Batteries

Imports into Bulgaria

For the seventh year in a row, Bulgaria recorded growth in supplies from abroad of primary cells and batteries, which increased by 6.1% to X units in 2022. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, primary cell and battery imports amounted to $X in 2022. In general, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.5% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 62% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), China (X units) and Greece (X units) were the main suppliers of primary cell and battery imports to Bulgaria, with a combined 64% share of total imports. Hungary, Belgium, Italy, Poland and Hong Kong SAR lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +61.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Belgium ($X) appeared to be the largest primary cell and battery suppliers to Bulgaria, with a combined 50% share of total imports. Greece, Italy, Hungary, Poland and Hong Kong SAR lagged somewhat behind, together comprising a further 34%.

Italy, with a CAGR of +43.5%, recorded the highest rates of growth with regard to 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 2022, the average primary cell and battery import price amounted to $X per unit, shrinking by -4.1% against the previous year. In general, the import price saw a deep setback. The most prominent rate of growth was recorded in 2018 when the average import price increased by 41%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Belgium ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform