Bulgaria: Internal Combustion Engines Market Overview 2021

Internal Combustion Engines Market Size in Bulgaria

The Bulgarian internal combustion engines market soared to $X in 2020, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Over the period under review, the market attained the peak level at $X in 2008; however, from 2009 to 2020, consumption failed to regain the momentum.

Internal Combustion Engines Exports

Exports from Bulgaria

In 2020, shipments abroad of motor vehicles compression-ignition internal combustion piston engines decreased by -X% to X units, falling for the second consecutive year after three years of growth. In general, exports, however, saw prominent growth. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Exports peaked at X units in 2018; however, from 2019 to 2020, exports remained at a lower figure.

In value terms, internal combustion engines exports surged to $X in 2020. Over the period under review, exports, however, recorded slight growth. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Exports peaked at $X in 2017; however, from 2018 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X units) was the main destination for internal combustion engines exports from Bulgaria, accounting for a X% share of total exports. Moreover, internal combustion engines exports to Nigeria exceeded the volume sent to the second major destination, Turkey (X units), twofold. Iraq (X units) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Nigeria totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+X% per year) and Iraq (+X% per year).

In value terms, Turkey ($X), Nigeria ($X) and Germany ($X) were the largest markets for internal combustion engines exported from Bulgaria worldwide, with a combined X% share of total exports.

Among the main countries of destination, Nigeria (+X% per year) saw the highest growth rate of 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

In 2020, the average internal combustion engines export price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt setback. Over the period under review, average export prices attained the maximum at $X per unit in 2007; however, from 2008 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Germany ($X per unit), while the average price for exports to Iraq ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria, while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Bulgaria

In 2020, internal combustion engines imports into Bulgaria surged to X units, jumping by X% compared with 2019. In general, imports, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2011 when imports increased by X% against the previous year. Imports peaked at X units in 2008; however, from 2009 to 2020, imports remained at a lower figure.

In value terms, internal combustion engines imports skyrocketed to $X in 2020. Overall, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, imports hit record highs in 2020 and are likely to see gradual growth in the near future.

Imports by Country

In 2020, the U.S. (X units) constituted the largest supplier of internal combustion engines to Bulgaria, accounting for a X% share of total imports. Moreover, internal combustion engines imports from the U.S. exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was occupied by France (X units), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from the U.S. totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and France (-X% per year).

In value terms, the U.S. ($X), Germany ($X) and Serbia ($X) were the largest internal combustion engines suppliers to Bulgaria, with a combined X% share of total imports.

Among the main suppliers, the U.S. (+X% per year) 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 2020, the average internal combustion engines import price amounted to $X per unit, jumping by X% against the previous year. In general, the import price enjoyed a prominent expansion. The pace of growth was the most pronounced in 2008 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2020 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Serbia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for motor vehicles compression-ignition internal combustion piston engines in the world?

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The countries with the highest volumes of internal combustion engines consumption in 2020 were China (9.3M units), the U.S. (5.3M units) and India (3.8M units), together comprising 56% of global consumption. Germany, the UK, Mexico, Turkey, France, South Korea, Thailand, Spain and Austria lagged somewhat behind, together comprising a further 26%.

What are the largest producers of motor vehicles compression-ignition internal combustion piston engines in the world?

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The countries with the highest volumes of internal combustion engines production in 2020 were China (9.4M units), the U.S. (5.5M units) and India (3.9M units), with a combined 56% share of global production. Germany, the UK, Mexico, France, South Korea, Turkey, Thailand, Austria, Poland and Spain lagged somewhat behind, together comprising a further 28%.

What are the leading suppliers of motor vehicles compression-ignition internal combustion piston engines to Bulgaria?

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In value terms, the U.S. ($2.3M), Germany ($1.1M) and Serbia ($468K) constituted the largest internal combustion engines suppliers to Bulgaria, together comprising 72% of total imports.

What are the leading importers of motor vehicles compression-ignition internal combustion piston engines from Bulgaria?

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In value terms, Turkey ($227K), Nigeria ($143K) and Germany ($79K) constituted the largest markets for internal combustion engines exported from Bulgaria worldwide, with a combined 72% share of total exports.

What is the average export price for motor vehicles compression-ignition internal combustion piston engines in Bulgaria?

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In 2020, the average internal combustion engines export price amounted to $3,488 per unit, jumping by 36% against the previous year.

What is the average import price for motor vehicles compression-ignition internal combustion piston engines in Bulgaria?

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In 2020, the average internal combustion engines import price amounted to $9,127 per unit, increasing by 17% against the previous year.