Bulgaria: Truck Crane Market 2022

Truck Crane Market Size in Bulgaria

In 2021, the Bulgarian truck crane market increased by 18% to $X, rising for the fifth year in a row after four years of decline. Overall, consumption recorded a strong expansion. Truck crane consumption peaked in 2021 and is expected to retain growth in the immediate term.

Truck Crane Production in Bulgaria

In value terms, truck crane production contracted notably to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 2,363% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Truck Crane Exports

Exports from Bulgaria

In 2021, truck crane exports from Bulgaria dropped markedly to X units, shrinking by -34.4% on 2020 figures. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 636% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, truck crane exports contracted markedly to $X in 2021. Over the period under review, exports faced a drastic downturn. The pace of growth appeared the most rapid in 2020 with an increase of 337% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Serbia (X units) was the main destination for truck crane exports from Bulgaria, accounting for a 47% share of total exports. Moreover, truck crane exports to Serbia exceeded the volume sent to the second major destination, Ghana (X units), threefold. Germany (X units) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to Serbia stood at +44.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (0.0% per year) and Germany (+6.7% per year).

In value terms, Germany ($X), Serbia ($X) and Paraguay ($X) constituted the largest markets for truck crane exported from Bulgaria worldwide, with a combined 95% share of total exports. Jordan and Ghana lagged somewhat behind, together comprising a further 5.1%.

In terms of the main countries of destination, Jordan, with a CAGR of +129.4%, 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

The average truck crane export price stood at $X per unit in 2021, shrinking by -29.2% against the previous year. Over the period under review, the export price showed a dramatic decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 100%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Ghana ($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 Jordan (+53.7%), while the prices for the other major destinations experienced mixed trend patterns.

Truck Crane Imports

Imports into Bulgaria

In 2021, the amount of truck cranes imported into Bulgaria soared to X units, growing by 26% on the previous year. Overall, imports posted a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by 161% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, truck crane imports surged to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 92%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Austria (X units), Romania (X units) and Belgium (X units) were the main suppliers of truck crane imports to Bulgaria, with a combined 72% share of total imports.

From 2012 to 2021, the biggest increases were in Austria (with a CAGR of +60.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Austria ($X) and Romania ($X) were the largest truck crane suppliers to Bulgaria, together comprising 69% of total imports.

Among the main suppliers, Austria, with a CAGR of +69.5%, 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 2021, the average truck crane import price amounted to $X per unit, rising by 6.1% against the previous year. In general, the import price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2017 an increase of 108% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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