Bulgaria: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Bulgaria

The Bulgarian truck and bus tyre market surged to $X in 2022, rising by 19% 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 a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% 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 +49.6% against 2020 indices. Truck and bus tyre consumption peaked in 2022 and is expected to retain growth in years to come.

Exports of Tyres For Buses Or Lorries

Exports from Bulgaria

After two years of growth, shipments abroad of tyres for buses or lorries decreased by -11.7% to X units in 2022. In general, exports saw a noticeable slump. The pace of growth appeared the most rapid in 2021 with an increase of 190% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports dropped to $X in 2022. Overall, exports saw a perceptible setback. The most prominent rate of growth was recorded in 2021 when exports increased by 253% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Greece (X units), Romania (X units) and Spain (X units) were the main destinations of truck and bus tyre exports from Bulgaria, with a combined 56% share of total exports. North Macedonia, Turkey, Serbia, the Czech Republic, Italy, Poland and Hungary lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +22.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from Bulgaria were Greece ($X), Romania ($X) and Spain ($X), together comprising 45% of total exports. North Macedonia, the Czech Republic, Serbia, Turkey, Poland, Italy and Hungary lagged somewhat behind, together comprising a further 8.3%.

Serbia, with a CAGR of +15.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, growing by 3.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 33%. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 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 Spain ($X per unit), while the average price for exports to Italy ($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 the Czech Republic (+1.8%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Bulgaria

In 2022, purchases abroad of tyres for buses or lorries increased by 11% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 25% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, truck and bus tyre imports soared to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 31% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Serbia (X units), Romania (X units) and Thailand (X units) were the main suppliers of truck and bus tyre imports to Bulgaria, together comprising 32% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +103.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Luxembourg ($X) and Thailand ($X) were the largest truck and bus tyre suppliers to Bulgaria, together comprising 36% of total imports.

Among the main suppliers, Thailand, with a CAGR of +128.7%, saw the highest growth rate of the value of imports, 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 truck and bus tyre import price amounted to $X per unit, surging by 7.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 8.1% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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