Bulgaria: Wheeled Loader Market 2024

Wheeled Loader Market Size in Bulgaria

In 2021, the Bulgarian wheeled loader market increased by 2.2% to $X, rising for the fourth year in a row after four years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 4.9% against the previous year. Wheeled loader consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Wheeled Loader Production in Bulgaria

In value terms, wheeled loader production declined to $X in 2021 estimated in export price. Overall, production saw a pronounced shrinkage. The growth pace was the most rapid in 2020 when the production volume increased by 6.1%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Wheeled Loader Exports

Exports from Bulgaria

In 2021, overseas shipments of wheeled loaders, crawler shovel loaders, front-end loaders decreased by -2% to X units, falling for the third consecutive year after two years of growth. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 87% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, wheeled loader exports declined slightly to $X in 2021. Over the period under review, exports, however, saw perceptible growth. The growth pace was the most rapid in 2018 with an increase of 45% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X units) was the main destination for wheeled loader exports from Bulgaria, with a 50% share of total exports. Moreover, wheeled loader exports to Romania exceeded the volume sent to the second major destination, Ukraine (X units), sixfold. North Macedonia (X units) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+42.5% per year) and North Macedonia (+0.9% per year).

In value terms, Romania ($X) remains the key foreign market for wheeled loaders, crawler shovel loaders, front-end loaders exports from Bulgaria, comprising 66% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 4% share of total exports. It was followed by Greece, with a 4% share.

From 2012 to 2021, the average annual growth rate of value to Romania totaled +10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+2.5% per year) and Greece (+39.5% per year).

Export Prices by Country

The average wheeled loader export price stood at $X per unit in 2021, approximately reflecting the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wheeled loader export price increased by +130.1% against 2018 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 77% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Georgia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wheeled Loader Imports

Imports into Bulgaria

After two years of decline, overseas purchases of wheeled loaders, crawler shovel loaders, front-end loaders increased by 16% to X units in 2021. In general, imports showed resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 103% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, wheeled loader imports soared to $X in 2021. Over the period under review, imports showed a strong increase. The growth pace was the most rapid in 2018 with an increase of 72% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

Turkey (X units), the UK (X units) and China (X units) were the main suppliers of wheeled loader imports to Bulgaria, with a combined 41% share of total imports. These countries were followed by Belgium, Italy, Germany, Japan, the Czech Republic, the Netherlands, Sweden, Romania, Greece and Austria, which together accounted for a further 51%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +58.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Turkey ($X) and the UK ($X) appeared to be the largest wheeled loader suppliers to Bulgaria, together comprising 44% of total imports. These countries were followed by Sweden, Italy, Germany, Romania, the Netherlands, China, the Czech Republic, Greece, Austria and Japan, which together accounted for a further 48%.

The Czech Republic, with a CAGR of +49.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wheeled loader import price amounted to $X per unit, increasing by 3.7% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 23% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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