Bulgaria: Market for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps 2022

Market Size for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in Bulgaria

The Bulgarian market for hydraulic pumps (gear or vane) and other rotary positive displacement pumps soared to $X in 2021, rising by 547% against the previous year. In general, consumption showed significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in Bulgaria

In value terms, production of hydraulic pumps (gear or vane) and other rotary positive displacement pumps soared to $X in 2021 estimated in export price. Overall, production enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 200% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production of growth failed to regain momentum.

Exports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Exports from Bulgaria

In 2021, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from Bulgaria rose significantly to X units, surging by 7.1% on 2020 figures. Over the period under review, exports, however, recorded a slight decline. The pace of growth was the most pronounced in 2016 when exports increased by 36% against the previous year. Over the period under review, the exports of hit record highs at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps expanded modestly to $X in 2021. Overall, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.7% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 23%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from Bulgaria, with a 53% share of total exports. Moreover, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps to Germany exceeded the volume sent to the second major destination, France (X units), fivefold. Italy (X units) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+45.4% per year) and Italy (-10.6% per year).

In value terms, Germany ($X) remains the key foreign market for hydraulic pump (gear or vane) and other rotary positive displacement pump exports from Bulgaria, comprising 64% of total exports. The second position in the ranking was taken by Italy ($X), with a 7% share of total exports. It was followed by Romania, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+3.1% per year) and Romania (+54.1% per year).

Export Prices by Country

The average export price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps stood at $X per unit in 2021, falling by -2.5% against the previous year. In general, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 155%. As a result, the export price reached the peak level of $X per unit, and then dropped slightly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Romania ($X per unit), while the average price for exports to Spain ($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 Italy (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Imports into Bulgaria

In 2021, approx. X units of hydraulic pumps (gear or vane) and other rotary positive displacement pumps were imported into Bulgaria; growing by 17% compared with 2020. In general, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 128%. Over the period under review, imports of attained the maximum at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps rose markedly to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +96.1% against 2015 indices. The pace of growth was the most pronounced in 2013 when imports increased by 30%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of hydraulic pump (gear or vane) and other rotary positive displacement pump to Bulgaria, with a 50% share of total imports. Moreover, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from China exceeded the figures recorded by the second-largest supplier, Romania (X units), threefold. The third position in this ranking was taken by Germany (X units), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +53.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+4.3% per year) and Germany (+12.2% per year).

In value terms, Romania ($X), China ($X) and Germany ($X) constituted the largest hydraulic pump (gear or vane) and other rotary positive displacement pump suppliers to Bulgaria, together comprising 65% of total imports. Italy, Switzerland, Turkey, the Czech Republic and Ukraine lagged somewhat behind, together accounting for a further 21%.

Among the main suppliers, Switzerland, with a CAGR of +64.1%, 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 import price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps amounted to $X per unit, declining by -3.1% against the previous year. Over the period under review, the import price recorded a noticeable shrinkage. The growth pace was the most rapid in 2020 an increase of 66%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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