Bulgaria: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Bulgaria

In 2022, the Bulgarian electric heating equipment market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, showed a slight decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Electric Heating Equipment Production in Bulgaria

In value terms, electric heating equipment production dropped notably to $X in 2022 estimated in export price. In general, production recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Electric heating equipment production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Electric Heating Equipment Exports

Exports from Bulgaria

In 2022, electric heating equipment exports from Bulgaria amounted to X units, increasing by X% against 2021. In general, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, electric heating equipment exports expanded rapidly to $X in 2022. Overall, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Romania (X units), Ukraine (X units) and Croatia (X units) were the main destinations of electric heating equipment exports from Bulgaria, together accounting for X% of total exports.

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

In value terms, Romania ($X), Ukraine ($X) and Serbia ($X) appeared to be the largest markets for electric heating equipment exported from Bulgaria worldwide, with a combined X% share of total exports. Croatia, Greece, the Netherlands, Hungary, Germany, Bosnia and Herzegovina, Moldova, Montenegro, Lithuania and Poland lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the average electric heating equipment export price amounted to $X per unit, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Montenegro ($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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into Bulgaria

In 2022, overseas purchases of electric space heating apparatus and soil heating apparatus increased by X% to X units, rising for the third year in a row after two years of decline. Overall, imports, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, electric heating equipment imports rose remarkably to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest electric heating equipment supplier to Bulgaria, accounting for a X% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fivefold. Germany (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of electric space heating apparatus and soil heating apparatus to Bulgaria, comprising X% of total imports. The second position in the ranking was held by Lithuania ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and France (X% per year).

Import Prices by Country

The average electric heating equipment import price stood at $X per unit in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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