Bulgaria: Transmission Shaft Market 2024

Transmission Shaft Market Size in Bulgaria

For the third year in a row, the Bulgarian transmission shaft market recorded growth in sales value, which increased by 24% to $X in 2022. Over the period under review, consumption recorded a strong increase. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Transmission Shaft Production in Bulgaria

In value terms, transmission shaft production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 29% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Transmission Shaft Exports

Exports from Bulgaria

After two years of decline, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 9.1% to X tons in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 29%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, transmission shaft exports surged to $X in 2022. Over the period under review, exports showed resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 36%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Austria (X tons), Turkey (X tons) and Finland (X tons) were the main destinations of transmission shaft exports from Bulgaria, together accounting for 52% of total exports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +75.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Germany ($X) and Finland ($X) were the largest markets for transmission shaft exported from Bulgaria worldwide, together accounting for 42% of total exports. Austria, Serbia, Italy, Russia, France, Greece, the United States, Hungary and Belarus lagged somewhat behind, together comprising a further 38%.

Among the main countries of destination, Austria, with a CAGR of +58.8%, saw the highest rates of growth with regard to 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

In 2022, the average transmission shaft export price amounted to $X per ton, with an increase of 8.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 38%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Hungary ($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 Serbia (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Bulgaria

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain imported into Bulgaria skyrocketed to X tons, rising by 28% on the previous year. Over the period under review, imports saw a prominent increase. The growth pace was the most rapid in 2021 with an increase of 39%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, transmission shaft imports skyrocketed to $X in 2022. Overall, imports showed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 38%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and Slovenia (X tons) were the main suppliers of transmission shaft imports to Bulgaria, with a combined 59% share of total imports. Italy, Turkey, Poland, Romania, Taiwan (Chinese) and the Czech Republic lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +29.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Bulgaria, comprising 40% of total imports. The second position in the ranking was held by China ($X), with a 9.1% share of total imports. It was followed by Italy, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.7% per year) and Italy (+12.4% per year).

Import Prices by Country

The average transmission shaft import price stood at $X per ton in 2022, which is down by -1.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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