Bulgaria: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2024

Market Size for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in Bulgaria

In 2022, after three years of growth, there was significant decline in the Bulgarian market for fork-lift trucks and other industrial works trucks and tractors, when its value decreased by X% to $X. Overall, consumption, however, enjoyed a remarkable increase. As a result, consumption reached the peak level of $X, and then dropped significantly in the following year.

Production of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in Bulgaria

In value terms, production of fork-lift trucks and other industrial works trucks and tractors stood at $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. Over the period under review, production of reached the maximum level in 2022 and is expected to retain growth in the near future.

Exports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Exports from Bulgaria

In 2022, after two years of growth, there was significant decline in overseas shipments of fork-lift trucks and other industrial works trucks and tractors, when their volume decreased by X% to X units. Over the period under review, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then contracted markedly in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors contracted dramatically to $X in 2022. Overall, total exports indicated a temperate 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 2016 indices. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

Romania (X units) was the main destination for exports of fork-lift trucks and other industrial works trucks and tractors from Bulgaria, with a X% share of total exports. Moreover, exports of fork-lift trucks and other industrial works trucks and tractors to Romania exceeded the volume sent to the second major destination, Croatia (X units), fourfold. The third position in this ranking was held by Greece (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Romania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Greece (X% per year).

In value terms, Romania ($X) remains the key foreign market for fork-lift trucks and other industrial works trucks and tractors exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Serbia ($X), with a X% share of total exports. It was followed by Greece, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Romania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (X% per year) and Greece (X% per year).

Export Prices by Country

The average export price for fork-lift trucks and other industrial works trucks and tractors stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the export price, however, showed a deep downturn. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Croatia ($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 Serbia (X%), while the prices for the other major destinations experienced a decline.

Imports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Imports into Bulgaria

In 2022, after two years of growth, there was significant decline in supplies from abroad of fork-lift trucks and other industrial works trucks and tractors, when their volume decreased by X% to X units. In general, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors soared to $X in 2022. Over the period under review, imports, however, saw a prominent increase. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of imports of fork-lift trucks and other industrial works trucks and tractors to Bulgaria, together accounting for X% of total imports. Italy, Hungary, Belgium, Turkey, the UK, Vietnam, Japan, France, Iran and Sweden lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest forklift truck and industrial works truck suppliers to Bulgaria were China ($X), France ($X) and Germany ($X), together comprising X% of total imports. The UK, Italy, the Netherlands, Vietnam, Belgium, Sweden, Japan, Turkey, Hungary and Iran lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, recorded 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 import price for fork-lift trucks and other industrial works trucks and tractors amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per unit in 2018; however, from 2019 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 France ($X per unit), while the price for Iran ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :