Bulgaria: Market for Toothed wheels, chain sprockets and other transmission elements 2024

Market Size for Toothed wheels, chain sprockets and other transmission elements in Bulgaria

The Bulgarian market for toothed wheels, chain sprockets and other transmission elements surged to $X in 2021, with an increase of 35% against the previous year. Over the period under review, consumption, however, showed a pronounced descent. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Toothed wheels, chain sprockets and other transmission elements in Bulgaria

In value terms, production of toothed wheels, chain sprockets and other transmission elements rose notably to $X in 2021 estimated in export price. In general, production showed a noticeable downturn. The most prominent rate of growth was recorded in 2015 with an increase of 66% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports from Bulgaria

After two years of growth, overseas shipments of toothed wheels, chain sprockets and other transmission elements decreased by -23.5% to X tons in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 84%. Over the period under review, the exports of hit record highs at X tons in 2020, and then shrank remarkably in the following year.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. In general, total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +42.6% against 2018 indices. The pace of growth was the most pronounced in 2015 with an increase of 90% against the previous year. Over the period under review, the exports of attained the maximum in 2021 and are likely to continue growth in years to come.

Exports by Country

Germany (X tons), Italy (X tons) and Finland (X tons) were the main destinations of exports of toothed wheels, chain sprockets and other transmission elements from Bulgaria, with a combined 90% share of total exports. Sweden, Turkey and Russia lagged somewhat behind, together accounting for a further 5.6%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +122.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for toothed wheels, chain sprockets and other transmission elements exports from Bulgaria, comprising 64% of total exports. The second position in the ranking was held by Italy ($X), with a 10% share of total exports. It was followed by Turkey, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-0.2% per year) and Turkey (+11.5% per year).

Export Prices by Country

In 2021, the average export price for toothed wheels, chain sprockets and other transmission elements amounted to $X per ton, with an increase of 56% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Italy ($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 Russia (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports into Bulgaria

In 2021, overseas purchases of toothed wheels, chain sprockets and other transmission elements were finally on the rise to reach X tons after three years of decline. Over the period under review, imports posted a prominent increase. The growth pace was the most rapid in 2014 with an increase of 159% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. In general, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 40% against the previous year. Over the period under review, imports of hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Italy (X tons) and Turkey (X tons) were the main suppliers of imports of toothed wheels, chain sprockets and other transmission elements to Bulgaria, with a combined 66% share of total imports. China, Ukraine, Sweden, Lithuania, the Czech Republic and North Macedonia lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +78.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of toothed wheels, chain sprockets and other transmission elements to Bulgaria, comprising 40% of total imports. The second position in the ranking was taken by Italy ($X), with a 13% share of total imports. It was followed by China, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+21.4% per year) and China (+6.5% per year).

Import Prices by Country

In 2021, the average import price for toothed wheels, chain sprockets and other transmission elements amounted to $X per ton, declining by -15.8% against the previous year. Overall, the import price saw a slight shrinkage. The growth pace was the most rapid in 2016 when the average import price increased by 48%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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