Bulgaria: Market for Motorcycles and Cycles With an Auxiliary Motor 2022

Market Size for Motorcycles and Cycles With an Auxiliary Motor in Bulgaria

The Bulgarian market for motorcycles and cycles with an auxiliary motor dropped to $X in 2021, reducing by -1.6% against the previous year. In general, consumption saw a drastic downturn. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Motorcycles and Cycles With an Auxiliary Motor in Bulgaria

In value terms, production of motorcycles and cycles with an auxiliary motor declined to $X in 2021 estimated in export price. Over the period under review, production showed a deep setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 47%. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports from Bulgaria

In 2021, exports of motorcycles and cycles with an auxiliary motor from Bulgaria rose notably to X units, increasing by 12% on the year before. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 10,875%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, exports of motorcycles and cycles with an auxiliary motor soared to $X in 2021. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 5,224% against the previous year. Over the period under review, the exports of attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The Netherlands (X units) was the main destination for exports of motorcycles and cycles with an auxiliary motor from Bulgaria, with a 73% share of total exports. Moreover, exports of motorcycles and cycles with an auxiliary motor to the Netherlands exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was taken by North Macedonia (X units), with a 2.1% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands amounted to -10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+25.0% per year) and North Macedonia (+46.3% per year).

In value terms, the Netherlands ($X) remains the key foreign market for motorcycles and cycles with an auxiliary motor exports from Bulgaria, comprising 73% of total exports. The second position in the ranking was taken by Germany ($X), with a 23% share of total exports. It was followed by Georgia, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands amounted to +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+22.8% per year) and Georgia (+5.0% per year).

Export Prices by Country

The average export price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2021, picking up by 28% against the previous year. Overall, the export price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by 154%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per unit), while the average price for exports to North Macedonia ($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 the Netherlands (+27.0%), while the prices for the other major destinations experienced a decline.

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports into Bulgaria

Imports of motorcycles and cycles with an auxiliary motor into Bulgaria soared to X units in 2021, rising by 140% compared with the previous year's figure. In general, imports continue to indicate a strong increase. Imports peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, imports of motorcycles and cycles with an auxiliary motor surged to $X in 2021. Overall, imports showed pronounced growth. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest motorcycles and cycles with an auxiliary motor supplier to Bulgaria, accounting for a 53% share of total imports. Moreover, imports of motorcycles and cycles with an auxiliary motor from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was taken by Hong Kong SAR (X units), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+30.7% per year) and Hong Kong SAR (0.0% per year).

In value terms, the largest motorcycles and cycles with an auxiliary motor suppliers to Bulgaria were Italy ($X), China ($X) and Austria ($X), with a combined 93% share of total imports. These countries were followed by Hong Kong SAR, Switzerland, Greece and the UK, which together accounted for a further 5.8%.

The UK, with a CAGR of +330.5%, recorded the highest growth rate of the value of imports, among the main suppliers 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 motorcycles and cycles with an auxiliary motor amounted to $X per unit, which is down by -15.1% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 71%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 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 ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+88.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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