Bulgaria: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Bulgaria

The Bulgarian spherical roller bearing market fell dramatically to $X in 2021, waning by -17.9% 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). In general, consumption continues to indicate a perceptible descent. Spherical roller bearing consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Spherical Roller Bearing Exports

Exports from Bulgaria

In 2021, the amount of spherical roller bearings exported from Bulgaria skyrocketed to X tons, picking up by 54% compared with the previous year. Overall, total exports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -28.5% against 2017 indices. The growth pace was the most rapid in 2019 with an increase of 68% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, spherical roller bearing exports surged to $X in 2021. In general, total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +105.8% against 2015 indices. The growth pace was the most rapid in 2017 when exports increased by 71% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Turkey (X tons) was the main destination for spherical roller bearing exports from Bulgaria, with a 47% share of total exports. Moreover, spherical roller bearing exports to Turkey exceeded the volume sent to the second major destination, Romania (X tons), threefold. Poland (X tons) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-1.8% per year) and Poland (+43.7% per year).

In value terms, Turkey ($X) remains the key foreign market for spherical roller bearings exports from Bulgaria, comprising 40% of total exports. The second position in the ranking was taken by Romania ($X), with a 13% share of total exports. It was followed by Poland, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-3.6% per year) and Poland (+35.3% per year).

Export Prices by Country

The average spherical roller bearing export price stood at $X per ton in 2021, which is down by -18.7% against the previous year. Over the period under review, the export price, however, continues to indicate modest growth. The pace of growth was the most pronounced in 2018 an increase of 58% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then fell markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Egypt ($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 Turkey (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into Bulgaria

In 2021, the amount of spherical roller bearings imported into Bulgaria shrank modestly to X tons, waning by -5% against the previous year's figure. In general, imports showed a mild descent. The pace of growth was the most pronounced in 2020 with an increase of 26% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, spherical roller bearing imports expanded slightly to $X in 2021. Over the period under review, imports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2018 with an increase of 24%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and Slovakia (X tons) were the main suppliers of spherical roller bearing imports to Bulgaria, with a combined 71% share of total imports. Sweden, North Macedonia, the Netherlands, France, the Czech Republic and the United Arab Emirates lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +18.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of spherical roller bearings to Bulgaria, comprising 42% of total imports. The second position in the ranking was held by Slovakia ($X), with a 13% share of total imports. It was followed by Sweden, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (-8.4% per year) and Sweden (+17.0% per year).

Import Prices by Country

In 2021, the average spherical roller bearing import price amounted to $X per ton, rising by 7.1% against the previous year. Over the period under review, the import price, however, recorded a mild reduction. The pace of growth appeared the most rapid in 2013 when the average import price increased by 7.9% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sweden ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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