Bulgaria: Market for Steering Wheels, Steering Columns And Steering Boxes 2025

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Bulgaria

The Bulgarian steering wheels and columns market declined slightly to $X in 2022, with a decrease of -1.9% against the previous year. In general, consumption continues to indicate a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in Bulgaria

In value terms, steering wheels and columns production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 with an increase of 29%. Steering wheels and columns production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Bulgaria

In 2022, approx. X tons of steering wheels, steering columns and steering boxes were exported from Bulgaria; which is down by -9% compared with the year before. Overall, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2016 with an increase of 736%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, steering wheels and columns exports declined to $X in 2022. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 477% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted in the following year.

Exports by Country

Germany (X tons) was the main destination for steering wheels and columns exports from Bulgaria, accounting for a 83% share of total exports. Moreover, steering wheels and columns exports to Germany exceeded the volume sent to the second major destination, Belgium (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +100.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+96.6% per year) and Turkey (+77.3% per year).

In value terms, Germany ($X) remains the key foreign market for steering wheels, steering columns and steering boxes exports from Bulgaria, comprising 84% of total exports. The second position in the ranking was held by Belgium ($X), with a 5.1% share of total exports. It was followed by Turkey, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +90.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+96.5% per year) and Turkey (+82.6% per year).

Export Prices by Country

In 2022, the average steering wheels and columns export price amounted to $X per ton, falling by -5.3% against the previous year. Over the period under review, the export price continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2017 when the average export price increased by 49%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+3.0%), while the prices for the other major destinations experienced a decline.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Bulgaria

Steering wheels and columns imports into Bulgaria contracted to X tons in 2022, dropping by -14.3% against 2021 figures. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 69% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, steering wheels and columns imports declined to $X in 2022. Overall, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 77% against the previous year. Imports peaked at $X in 2021, and then declined slightly in the following year.

Imports by Country

Germany (X tons), Turkey (X tons) and Poland (X tons) were the main suppliers of steering wheels and columns imports to Bulgaria, together accounting for 72% of total imports. China, Mexico, Norway, Hungary, Belgium, Romania and Italy lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +205.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of steering wheels, steering columns and steering boxes to Bulgaria, comprising 45% of total imports. The second position in the ranking was taken by Turkey ($X), with a 14% share of total imports. It was followed by China, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+40.3% per year) and China (+36.3% per year).

Import Prices by Country

In 2022, the average steering wheels and columns import price amounted to $X per ton, surging by 14% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 16% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 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 Mexico ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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