Speed Changer Price in Bulgaria - 2023

Contents:

1. Speed Changer Price in Bulgaria (CIF) - 2023
2. Speed Changer Price in Bulgaria (FOB) - 2023
3. Speed Changer Imports in Bulgaria
4. Speed Changer Exports in Bulgaria

Speed Changer Price in Bulgaria (CIF) - 2023

The average speed changer import price stood at $14,094 per ton in May 2023, reducing by -9% against the previous month. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 37% m-o-m. Over the period under review, average import prices hit record highs at $18,765 per ton in December 2022; however, from January 2023 to May 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In May 2023, the country with the highest price was Switzerland ($46,598 per ton), while the price for Turkey ($7,419 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Italy (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Speed Changer Price in Bulgaria (FOB) - 2023

In May 2023, the average speed changer export price amounted to $16,378 per ton, shrinking by -10.4% against the previous month. Over the period under review, export price indicated a perceptible expansion from May 2022 to May 2023: its price increased at an average monthly rate of +3.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on May 2023 figures, speed changer export price increased by +44.4% against January 2023 indices. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 58% against the previous month. As a result, the export price reached the peak level of $19,776 per ton. From January 2023 to May 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In May 2023, the country with the highest price was Turkey ($32,052 per ton), while the average price for exports to Italy ($6,598 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Speed Changer Imports in Bulgaria

In 2022, approx. 2.4K tons of speed changers, industrial high-speed drives and gear were imported into Bulgaria; jumping by 30% on the previous year's figure. Over the period under review, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +13.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +104.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 58% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, speed changer imports skyrocketed to $38M in 2022. Overall, imports recorded buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Top Suppliers of Speed Changer to Bulgaria in 2022:

1. Germany (825.2 tons)
2. China (417.6 tons)
3. Italy (398.2 tons)
4. Turkey (270.7 tons)
5. Denmark (65.6 tons)
6. Romania (51.8 tons)
7. Czech Republic (49.1 tons)
8. North Macedonia (40.7 tons)
9. Austria (23.5 tons)
10. United Kingdom (5.4 tons)
11. Russia (5.0 tons)

Speed Changer Exports in Bulgaria

In 2022, after two years of decline, there was significant growth in overseas shipments of speed changers, industrial high-speed drives and gear, when their volume increased by 17% to 1.1K tons. In general, exports, however, continue to indicate a mild downturn.

In value terms, speed changer exports soared to $15M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +10.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 31% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Speed Changer from Bulgaria in 2022:

1. Germany (411.4 tons)
2. Italy (277.8 tons)
3. Turkey (126.3 tons)
4. Russia (43.8 tons)
5. United States (38.2 tons)
6. France (29.5 tons)
7. Iran (28.2 tons)
8. Finland (19.1 tons)
9. Greece (17.7 tons)
10. Belgium (17.5 tons)

Source: IndexBox Market Intelligence Platform